How is the russian economy ?

The number of companies in Russia that have gone bankrupt has soared in the first two months of 2024, Russian business daily Kommersant reported on Thursday.

In January, 571 companies in Russia declared bankruptcy — a rise of 57% from 364 a year ago, Kommersant reported, citing data from the federal register for bankruptcy.

The Spectator reports :

As Putin prepares for his fifth term, the truth is that Putin is a hollow tsar.

He invaded Ukraine to assert Russia’s greatness in its backyard as well as on the international stage. Instead, the war showed that Putin’s much-vaunted army is incapable of defeating a far smaller Ukrainian force. Instead of halting Nato expansion, he has massively extended it to formerly neutral Sweden and Finland.

The invasion has erased key sectors of the Russian economy (notably gas exports and automotives), brought foreign investment to an abrupt halt and made Russia an economic vassal of China.

The war has forced up to a million of the country’s best educated and brightest into exile and broken the Kremlin’s implicit contract with Russia’s elites that they would be able to enrich themselves and enjoy their earnings unhindered in exchange for political submission. Most fatefully, war has allowed Putin and the elderly securocrats who surround him to fulfill a dream that many old men may aspire to but very few achieve – to create a future that reflects an idealised version of their country’s past.

Spectator Article

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