While the multinationals were leaving, thousands of Russians who had the economic means to do so were also fleeing, frightened by harsh new government moves connected to the war that they saw as a …
When Vladimir Putin announced the invasion of Ukraine, war seemed far away from Russian territory. Yet within days the conflict came home — not with cruise missiles and mortars but in the form of unprecedented and unexpectedly extensive volleys of sanctions by Western governments and economic punishment by corporations.
Major industrial players including oil giants BP and Shell and automaker Renault walked away, despite their huge investments in Russia. Shell has estimated it will lose about $5 billion by trying to unload its Russian assets. Even vicarious travel via the Internet and social media has narrowed for Russians. Russia in March banned Facebook and Instagram — although that can be circumvented by using VPNs — and shut access to foreign media websites, including the BBC, the U.S. government-funded Voice of America and Radio Free Europe/Radio Liberty and the German broadcaster Deutsche Welle.
Andrei Kolesnikov of the Carnegie Moscow Center wrote in a commentary that Russian society right now is gripped by an “aggressive submission” and that the degradation of social ties could accelerate. But in terms of economic activity, “that’s a completely different story,” said Chris Weafer, a veteran Russia economy analyst at Macro-Advisory.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: Russia publishes list of Americans banned from countryLATEST: Ukrainian Pres. Zelenskyy speaks at World Economic Forum in Davos, Switzerland, calling on the West to recognize as a mistake the refusal to impose preventive sanctions on Russia and take decisive steps in that direction.
Read more »
Struggling in Ukraine, Russia moves to allow over-40s to enlistIn a sign of Russia’s urgent need to bolster its war effort in Ukraine, parliament said on Friday it would consider a bill to allow Russians older than 40 and…
Read more »
Russia says 963 Americans are banned from entering, adds 26 new CanadiansLONDON (Reuters) -Russia said on Saturday it had so far banned 963 Americans from entering the country - including previously announced moves against President Joe Biden and other top officials - and would continue to retaliate against what it called hostile U.S. actions. The largely symbolic travel bans form part of a downward spiral in Russia's relations with the West since its Feb. 24 invasion of Ukraine, which prompted Washington and its allies to impose drastic sanctions on Moscow and step up arms supplies to Ukraine. Separately, the Foreign Ministry said it had added 26 new names to a list of Canadians it has barred from travelling to Russia, including defence chiefs, defence industry executives and Sophie Gregoire Trudeau, the wife of Prime Minister Justin Trudeau.
Read more »
Russia Weighs Scrapping Age Limit for Military EnlistmentRussia is considering scrapping the age limit for enlisting in the military amid reports of heavy casualties in Ukraine.
Read more »
Ukraine Rules Out Ceasefire and Ceding Territory; Moscow Names 963 Americans Banned From RussiaZelenskyy has said that only diplomacy will end the war with Russia, as his top officials rule out a ceasefire or ceding any territory.
Read more »
Trump reacts to testimony that Clinton spread Russia allegations: 'Where do I get my reputation back?'Former President Donald Trump reacted to the bombshell testimony out of the trial of Michael Sussmann that Hillary Clinton approved the dissemination of false information tying Trump to Russia
Read more »