"'Sanctions' hit as hard back home as they do in Russia."
Source on this, please? At least in the US, they're experiencing economic problems due to the pandemic and its effects rippling through all social and business strata, not sanctions.
Source on this, please? At least in the US, they're experiencing economic problems due to the pandemic and its effects rippling through all social and business strata, not sanctions.
It's certainly not all due to this war, but to pretend it's not had any impact is ridiculous. We're feeling it, and just look at the search trends in the West for Ukraine War related terms and you can see we have clearly lost our interest (or appetite).
McDonald's is losing hundreds of restaurants, Volskagen is losing one of their most rapidly growing markets.
It's being replaced by a Russian chain and it's unlikely Russians will care that-that much in the end.
Russian import revenues have skyrocketed.
Tourism is going to be down in Europe, the financial services profits for all those Russian zillions will move from London to Dubai.
Where sanctions can hurt is for strategic things, like obviously aircraft, and Russia doesn't make great autos and parts will be hard to come by so they will have to adjust. But they probably will.
Russian economy will probably downgrade 10% this year but it's not something that will crash the economy.
Putin can blame NATO and that's that.
FYI the US is not very tied to Russia economically, it's mostly the EU.
The Oil Price shock is triggered by the war, even though it's not directly a supply chain issue, it obviously affects every American.
Oil Producers around the world - including the USA will do well from that.
EU doesn't produce a lot of Oil.