A person shops at a supermarket in Moscow in April. War-related sanctions have caused inflation to soar – 2% per week in the first three weeks of the war and 1% per week thereafter, equivalent to 68% per year.
While the country’s Central Bank may have managed to offset some of the tougher sanctions, the West’s economic broadside has caused long-term damage to “Fortress Russia”.
A Nigerian delegation inspects a Russian military helicopter near Moscow in July 2021.
Photo by DIMITAR DILKOFF/AFP via Getty Images
The sanctions are likely to last beyond the current conflict. This may end up bringing about a solution to Africa’s desire to produce its own military hardware for its own use.
‘No roubles, no gas.’
Pictorial Press Ltd/Alamy
It will take more than Europe’s gas requirement to topple the greenback.
As the world becomes more divided by this war, the Chinese yuan may become the safe haven for Russia and other liked-minded countries.
People in the Russian city of St. Petersburg stand in line to withdraw U.S. dollars and euros from an ATM. Ordinary Russians faced the prospect of higher prices as western sanctions over the invasion of Ukraine sent the ruble plummeting.
(AP Photo/Dmitri Lovetsky)
Over-reliance on sanctions and economic warfare measures have led to strategic complacency and the avoidance of negotiations on the part of the western governments.
Dylan Garcia ARPS
Here are the threats being faced by banks, companies and investment funds.
Loading packed fertilisers at Russia’s PhosAgro Group in the town of Pochep.
Photo by Vladimir Gorovykh\TASS via Getty Images
The ultimate crop yields that farmers harvest depends on the use of fertilisers.
The Russians know a thing or two about long winters.
The president’s regime has been planning for a trip to the international deep freeze for many years.
The source of much confusion.
Most media coverage has tended to focus on the Swift payments messaging system as the crux of Russia sanctions, but it’s actually peripheral.
Russians flocked to banks and ATMs shortly after Russia attacked Ukraine and western countries announced sanctions.
(AP Photo/Dmitri Lovetsky)
Western countries are trying to fight Russia with sanctions, but Putin has taken steps to protect the Russian economy.
Denying Russia’s central bank access to its offshore reserves threatens hyperinflation, a recession and massive unemployment.
Russians in Moscow and elsewhere flocked to ATMs to withdraw cash, fearful that the ruble will plunge further due to Western sanctions.
AP Photo/Victor Berzkin
By working with allies, the Biden administration has been able to place severe sanctions on Russia – including targeting Putin’s inner circle and banning banks from SWIFT.
A pair of nesting house martin chicks.
Swifts, house martins and greenfinches are the newest arrivals to the UK red list.
No more fakes.
PayPal CEO Dan Schulman sees much more potential in blockchain ID than payments at present. He’s absolutely right.
The high seas are getting lower.
Blockchains and cryptocurrencies are being co-opted by the very system they were designed to overthrow.
Apple-developed lessons help students learn to code on the same device the code will be used on.
If you’re creating an app for an iPad, then why not create it on an iPad too. Is Apple’s Swift move to do this just another step towards the end of the personal computer?
If the banks can’t trust each other’s messages, can you trust the banks?
Developers will, according to Apple, be able to code faster and more efficiently than ever before, thanks to Swift.
As Apple’s Worldwide Developers Conference (WWDC) winds up in San Francisco today, 1,000 Apple engineers and 5,000 developers will return to their parts of the world armed with Apple’s own programming…