Russia's economy has entered a recession as gross domestic output fell by 4% in the third quarter, according to first estimates published Wednesday by the national statistics agency, Rosstat.  The drop in GDP follows a similar 4% contraction in the second quarter, as Western sanctions pummel Russia's economy following Moscow's offensive in Ukraine.  The 4% drop in economic output between July and September was less than the 4.5% contraction analysts had expected.
  • ☆ Yσɠƚԋσʂ ☆@lemmy.ml
    43·
    2 years ago

    Recession is to be expected in a situation like this but unfortunately this will not break Putin’s regime alone. Sustained support of Ukraine will be needed for a long time.

    I guess you missed the part that the recession in US and Europe is at least as bad as in Russia, with Europe now having mass protests and strikes happening in many countries. You have to be utterly deluded to think that the west will be able to keep funnelling billions into Ukraine while domestic economies continue to crumble.

    It’s also worth remembering that Russia has already gone through far worse economic disasters in the 90s and 2014 without collapsing. On the other hand, the west has never seen a comparable decline in standards of living.

    Good thing is that Europe and West can easily do that, and as we proceed to isolate Russia completely, the economic hit will start to diminish.

    What the west actually manage is to isolate itself. All major non-western countries are continuing to work and trade with Russia, including China and India which are two major rising powers. All the attempts by the west to isolate Russia geopolitically have failed miserably.