Are Russian sanctions working? | Money Works

When Russia invaded Ukraine, several Western states imposed sanctions as punishment. Western brands also closed shop. The aim was to put the squeeze on Russia’s economy. But two years on, are the sanctions working?

#Russia #RussiaSanctions #RussiaEconomy #UkraineWar #RussiaUkraineWar #EconomicSanctions #Sanctions #Ukraine #VladimirPutin #AlexeyNavalny #Navalny #AlJazeeraEnglish

[mahirshahriarhussain]

Well, Russia has friends in countries that despise the West, and the number of these friends are increasing every year due to their own wrongdoings. I'm not saying Russia is in the right. But the Nato countries aren't innocent either, to many of us. Such as, the old Soviet Union backed us against a genocide when the USA brought Pakistan weapons back in 1971.

[gfhbkln]

Such small mind investigation. You seriously talk about luxury brands? Like how can’t buy some overpriced bags from western countries gonna significantly cripple Russia economy and people’s morality? Seriously, we are talking about oil trade, natural resources. And you investigate whether people can buy some bags and Apple Watch. If AJ have some extra money for this piece, they should just donate to GAZA.

[AaronKaewprapai-qvbc]

Is sanction working? Of course it is. The US intention is not to penalized Russia but to make the european pay more to buy Russia oil and gas. Countries such as India taking its cue from the americans is buying, refining and reselling these oils and gas back to europe at a larger profit.

[meanlife]

The Western propaganda is no longer working for them 😅😅😅😅

[luckyea]

Impact of sanctions on the Russian economy:

In May, Russia's GDP growth accelerated from 4.4% to 4.5% in annual terms, according to data from the Ministry of Economy. In January-May, the Russian economy grew by 5% compared to the same period last year.

According to the department, the main growth drivers are the manufacturing industry and construction. Thus, the production of computers, electronics and optics in January-May 2024 increased by almost 40% compared to the same period last year. There is also positive dynamics in the chemical and food industries.

Electricity production increased by 3% in May. Production for 12 months set a historical record.

Industrial production (about 30% of GDP) increased by 5.3% in May.

The Moscow Exchange index in June amounted to 3, 140 points (+14% per annum). The index has been growing since April last year (15 months).

The real total return index increased compared to June last year (+10% per annum). It has also been growing since April 2023 (15 months).

Based on the results of the first four months, the growth of real wages in Russia amounted to 10.5% compared to the same period last year, according to Rosstat data.

The World Bank (WB) has recognized Russia as a high-income country. The financial institution published a document with this content on Monday, July 1.



Data for countries around the world whose economies grew at double-digit (almost double-digit) rates for more than 20 years in the 20th century are given below:

1. 13.8% - Russia - average annual growth for 22 years (1929–1955).
2. 11.5% - Taiwan - average annual growth for 27 years (1947-1973).
3. 10.4% - China - average annual growth for 25 years (1983-2007).
4. 10.2% - South Korea - average annual growth for 23 years (1966–1988).
5. 9.7% - Japan - average annual growth for 23 years (1948-1970).
6. 9.2% - Singapore - average annual growth for 24 years (1966-1989).

Thus, in the twentieth century, the world's largest national economic growth for more than 20 years was achieved in Russia in 1929–1955 (minus four war years). During this period, real wages grew 4 times, citizens’ deposits in savings banks grew 5 times, and the economy grew 14 times.

And:
- First place in the world in terms of the share of mechanical engineering in the total volume of industrial production.
- Complete technical and economic independence of the state has been ensured.
- First place in the world in terms of agricultural mechanization.
- First place in Europe and second in the world in terms of absolute industry size.
- First place in Europe and second in the world in terms of labor productivity in industry.
- The latest industries and advanced technologies: nuclear, space, rocketry, aircraft manufacturing, instrument making, radio engineering, electronics, electrical engineering and others. From the point of view of the saturation of economic sectors with new equipment and technologies, the Russian economy and industry had the youngest production and technical apparatus in the world.

And sanctions did not prevent such economic growth in Russia.

[daviddebilov]

It's not just about Apple watches and perfume. It's about spare parts and supply chains and the structure of the Russian economy. This report just touched the surface.

[dirwanedy]

Funny why al jazzera never dare do this video to israel 😂😂😂

[Zingalamadumi]

Al Jazeera is Middle Eastern version of CNN.

[kalewintermute]

Is this journalism? Really? It seems to be trying to pass off the idea that burning through currency reserves to build weapons is the EXACT same thing as having a healthy economy.

[winstonskafte]

I am surprise they let Victoria Nuland say her piece considering she was the main act in starting the chaos .

[MusehanaH]

I am sure the west cared dearly for Navalny...like a care dearly for the gum stuck under my left shoe 🙄

[johnvl]

And then I watched till tbe end
🤣🤣🤣🤣🤣
Omg it's funny

[mont]

Who is actually buying the products, though?

[felipearbustopotd]

Simple answer is NO.
There are NO morals where money is concerned, after all, it is simply business.

[arieskibet]

Aljazeera dabbling in propaganda on the side😂😂

[Dxeus]

Russia's loaded with resources and has some super smart people, just as good as those in the US and EU. When you hit Russia with sanctions, it's like you're just sanctioning yourself.

[tedsonkabiru]

Alexie and putin were in a bitter battle with both their lives at stake. putin made the first strike and unfortunately navalny died.
Rest in peace navalny

[petergreen]

😂This sanctions strategy has FAILED. IT'S embarrassing

[AlternativeBrew]

This sound like a Western alliance paid piece. Add in that ridiculous informatial type voice. Well done AJ for selling the slot.

What was he really saying though, "don't worry, even though we promised Russia will hurt and their war machine will be stopped, do not lose hope we are going to try another thing. We can still steal the 300 Billion it will make a difference. If it doesn't, we'll, we are dreaming up another scheme. "

[VoiceoftheMummy]

This is really horrible. The only thing you can do is see obvious thing is sanction the next step in the line of country supporting it.