Connect with us

World

Putin is preparing a new phase of the war economy

Published

on

Putin is preparing a new phase of the war economy
  1. Homepage
  2. a job

He presses

Putin wants to prepare Russia for a decades-long war economy, but this carries risks. Because the consequences of the sanctions haunt him.

MOSCOW – For the first time, more money is allocated to the army and security than to social spending: Kremlin President Vladimir Putin pledges to expand Russia’s war economy more than two years after his aggressive war on Ukraine. The country is preparing for a decades-long war economy, it was said at the 27th Saint Petersburg International Economic Forum (SPIEF).

Russian economist Pyotr Fradkov said: “Today the military-industrial complex is the locomotive of the economy.” Clearly, what many in Russia do not want to acknowledge is that it is precisely this economic dependence on war that will be avenged.

Billions for the army: Putin sends the Russian economy into ruin

Putin wants to prepare Russia for a decades-long war economy, but this carries risks. © Sergey Bobylev / Imago

Since the Ukraine war, Putin has boosted military spending to increase production in the defense sector. First Deputy Prime Minister Denis Manturov said at the SPIEF, which has been in operation since Wednesday (June 5, 2024), that Putin signed a complete list of instructions to develop the defense sector in order to produce more weapons and ammunition. It ends on Saturday.

The Kremlin is spending the equivalent of about 110 billion euros on defense alone this year. There is also an additional €34 billion for national security and security services. In total, this represents 38.6% of total Russian budget spending or 8% of GDP.

Given Western arms shipments to Ukraine, which also wants to use them to bomb Russian territory, Putin threatened an „asymmetric response” at the forum. In the future, Moscow could supply Russian weapons to those countries that are in conflict with the United States and other NATO members.

READ  NATO membership for Ukraine? Schulz expresses himself cautiously

Is the Russian economy really as strong as Putin portrays? Oil and gas collapse

Putin also explained that Russia, contrary to many expectations, has performed well so far in the face of punitive measures imposed by the West. Western experts confirm that the Russian economy is relatively strong despite the pressures resulting from the sanctions. But at the same time there are growing fears that the Russian economy may collapse as a result of war-related growth. Professor Hans said that the investments Russia is currently making „are not likely to have a long-term positive impact on the economy.” doctor. Michael Rochlitz, University of Oxford ZDF On June 5, 2024.

Russia currently relies heavily on oil and gas prices. The Russian economy has already suffered devastating declines in gas exports due to the Ukrainian war, as seen in Gazprom’s latest example: the Russian energy giant exported more than 174 billion cubic meters of natural gas to European countries in 2021. But in 2023, Gazprom’s shipments of natural gas to Europe amounted to only 28.3 billion cubic meters, according to the news agency’s calculations. Reuters Offer (as of January 2024). For the first time since 1999, the company did not make any profits. Because of Western sanctions, Putin is finding it increasingly difficult to find buyers for Russian gas. An important gas pipeline project with China is at risk of failure.

Sanctions imposed on the Russian economy affect the financial sector

The sanctions also have similar effects on Russia’s business in the financial sector. Especially since the United States threatened to take tougher measures against institutions providing financial support to Russia, many banks turned their backs on Russia. Chinese banks have suspended payments and stopped accepting yuan payments from Russia. Banks from Türkiye and the United Arab Emirates also retracted their decision. “Blood clots formed in all major vessels,” said former Russian Finance Minister Mikhail Zadornov.

READ  Mali - The United States imposes sanctions on politicians for helping Wagner - Politics

In addition, according to Vladislav Inozemtsev, director of the Moscow Center for the Study of Post-Industrial Societies, Western sanctions generally make transactions more difficult. He said in an interview with the British newspaper The Guardian, that the flow of capital abroad almost no longer occurs because the European Union has closed its accounts to the Russians. world. Oleg Vyugin, former deputy head of the Russian Central Bank, said the Russian economy resembles a “closed steam boiler full of money.” world. (With materials from EPA)

Continue Reading
Click to comment

Leave a Reply

Twój adres e-mail nie zostanie opublikowany. Wymagane pola są oznaczone *

World

The AfD wants to prevent expulsion from the Identity Party

Published

on

The AfD wants to prevent expulsion from the Identity Party


Exclusive

As of: June 24, 2024 at 10:17 AM

Disagreements over Europe’s leading candidate have already cost the AfD his membership in the EU Parliament’s identity faction. Now the Alternative for Germany party wants to separate completely from the European party.

The Federal Executive Council of the AfD unanimously decided this morning that the party’s congress at the end of next week will recommend leaving the European Identity and Democracy party. This I learned ARD Capital Studio From the council departments. The AfD is also said to want to prevent the impending expulsion.

The European Parliament’s Identity-linked faction had already broken away from the AfD delegation weeks ago. The reason for this was the inane statements made by the AfD candidate for the European elections, Maximilian Krah, about the National Socialist SS.

no rapprochement After the European elections

The AfD joined the Identity Party only a year ago. It was seen as “a suitable platform to strengthen communication with the AfD’s European sister parties,” according to the party’s board of directors’ decision today. The goal now is to move independently and shape the course in Europe in order to advance our own interests. “This requires partners who respect and share our interests.”

In the days following the election, the AfD had vainly hoped for a rapprochement with the ID faction in the European Parliament, thus excluding Krahe from its EU delegation. But the right-wing camp rejected the Alternative for Germany party’s appeal.

Since then, there has been significant dissatisfaction within the party that these former European partners were allowed to interfere too much in internal affairs. In Brussels, the AfD is currently trying to form a new faction with other right-wing parties.

READ  Netzagentur CEO Klaus Müller expects a harsh winter in Germany

Many potential new partners

Last week, the news portal Euractiv reported that members of such a group could come primarily from signatories of the so-called Sophia Declaration. Bulgaria’s Vazrajdhani party initiated this manifesto in April 2024 to demand, among other things, peace negotiations on Russia’s war against Ukraine and an end to the EU’s alleged „rampant bureaucracy.”

Hence, potential new AfD partners include: Se Acabó La Fiesta (SALF, “The Party is Over”) from Spain, SOS Romania, Slovakia’s Hnutie Republika (Republican Movement), NIKH from Greece, and Mi Hazank Mozgalom (Our Homeland). From Hungary. and the Polish Konfederacja or its more extreme sister, the Ruch Narodowy. According to Spiegel, the new faction can be called the “Sovereigns.”

Continue Reading

World

Hajj: More than 1,300 killed due to the heat in Mecca

Published

on

Hajj: More than 1,300 killed due to the heat in Mecca

More than 1,300 pilgrims died due to extreme heat while performing Hajj in Saudi Arabia this year. This was announced by Saudi Health Minister Fahd bin Abdul Rahman Al-Jaladzil on state television. Temperatures in
Makkah It reached 49 degrees Celsius.

More than four-fifths of those killed were pilgrims without official permission, and therefore had no hotel rooms available to protect themselves from heat To protect. It is said that more than 660 of the dead came from Egypt.

Many of the infected Egyptians were initially treated at the medical center in the Al-Muaisem district in Mecca. An Egyptian diplomat confirmed the number of dead and said that most of them were present Saudi Arabia He was buried.

Investigations against tour operators

According to the Egyptian government, many of them have done so Tour guides Allowing pilgrims to travel to Saudi Arabia without a permit illegally. Employees of 16 tourism companies are being investigated. The Saudi authorities expelled tens of thousands of pilgrims without a permit. But many, especially Egyptians, are still able to access the holy sites in and around Mecca. Some of them were entirely on foot.

According to a previous count by the Associated Press news agency, among the dead were 165 pilgrims from Indonesia, 98 from India, and dozens more from Jordan, Tunisia, Morocco, Algeria and Malaysia. Two pilgrims from the United States are also said to have died.

READ  Mali - The United States imposes sanctions on politicians for helping Wagner - Politics
Continue Reading

World

Crimea: Three people on the beach appear to have been killed by debris

Published

on

Crimea: Three people on the beach appear to have been killed by debris
outside Crimea

Three people on the beach were apparently killed by the wreckage

Russian terrorism with guided bombs – “a tremendous destructive force”

According to Ukrainian President Zelensky, Russia has attacked Ukraine with more than 2,400 guided bombs in recent weeks. Russia correspondent Christoph Wanner says they are converted aerial bombs.

Three people were killed and at least 124 others injured in a Ukrainian ATACMS missile attack on Crimea. The victims are said to have died due to debris falling on the beach. There are said to be 27 children among the wounded.

IOfficial information reported that at least three people, including two children, were killed in a missile attack on the coastal city of Sevastopol in the Crimean peninsula, which was annexed by Russia. They are said to have been killed by falling debris when Ukrainian missiles were intercepted over the city of Sevastopol in Crimea, said the city’s Moscow-appointed governor, Mikhail Razvochayev.

On Sunday, the Russian Ministry of Health announced that the number of infected people had risen to 124, according to the Interfax news agency. Russian child rights representative Maria Loa-Belova wrote on the Telegram application: “According to preliminary information, there are 27 children among the injured, 5 of whom are in critical condition – doctors are fighting for their lives.”

Here you will find content from third parties

In order to view embedded content, it is necessary to obtain your revocable consent to the transfer and processing of personal data, as providers of embedded content require this consent as third-party service providers. [In diesem Zusammenhang können auch Nutzungsprofile (u.a. auf Basis von Cookie-IDs) gebildet und angereichert werden, auch außerhalb des EWR]. By setting the switch to „On”, you agree to this (revocable at any time). This also includes your consent to the transfer of certain personal data to third countries, including the USA, in accordance with Article 49(1)(a) of the GDPR. You can find more information about this. You can revoke your consent at any time using the key and privacy at the bottom of the page.

According to the Ministry of Defense in Moscow, Ukraine launched five ATACMS missiles. Four of them were intercepted. He added, „Another missile deviated from its course as a result of air defense operations and exploded over the city area.”

Many of the victims were said to be sunbathing on a beach in the city of Ushkuyivka in northern Sevastopol when the missile debris fell. There are also photos of a burned private house in the area. Sevastopol Governor Mikhail Razvoschayev wrote that all medical facilities had been mobilized to care for the wounded.

Read also

The Russian Investigative Committee opened criminal proceedings on charges of terrorism after the missile fell. Forensic investigators were on the scene, authorities said.

Sevastopol is the main port of the Russian Black Sea Fleet. Belbek Military Airport is also located in the city area. Russia uses both the fleet and the airport extensively in its war against Ukraine. Therefore, Ukraine regularly attacks both objects.

Meanwhile, one person was killed and ten others were injured, according to the governor of the region of the same name, in Russian attacks on the city of Kharkiv in eastern Ukraine. There have been attacks on civilian infrastructure, Ole Sinehubo wrote on the short messaging service Telegram. It appears that slide bombs were used. Among the victims were teenagers.

READ  Mali - The United States imposes sanctions on politicians for helping Wagner - Politics
Continue Reading

Trending