![]() ![]() Netflix is refusing to show Russian state propaganda. BP and Shell are selling their Russian oil and gas interests. Moreover, this drawn-out conflict is a PR nightmare. And every day, weapons pour into Ukraine, making a swift Russian victory impossible. As the war continues, Ukrainian public opinion shifts ever further towards Europe. Even Switzerland is breaking its famous neutrality. Finland’s majority wants NATO membership and could bring Sweden in with them. Canada is placing an import ban on Russian fossil fuels. Germany has halted approval for Nord Stream 2 and is increasing its military budget by €100 billion. Turkey has decided its EU membership is more valuable than Russian gas and is limiting Russian warships in the Black Sea. China has said the two are ‘partners,’ not allies and will not interfere with US sanctions. The result has been a global outpouring of support, exposing the largest miscalculation of Putin’s career. Russia’s unprovoked invasion is playing out on 21st-century social media, with every smartphone as valuable as a German Stinger missile. A destroyed bridge and widespread civilian resistance. ‘I need ammunition, not a ride.’ The soldiers of Snake Island and Babusya’s sunflower seeds. ![]() And like his predecessor, he has warned the west that interference could result in ‘consequences you have never seen in history.’īut a Molotov cocktail of Ukrainian defence and Western sanctions could see Russia’s economy (USD/RUB) collapse before its President can declare victory. Russia’s Putin officially invaded Ukraine on 24 February like Chechnya, it’s a region he deems unworthy of statehood. But on 17 August 1998, the currency became so devalued that Russia defaulted on its debt, causing economic collapse. The IMF and World Bank lent it $22.6 billion to support financial reforms, and between October 1997 and August 1998, the Russian Central Bank spent $27 billion trying to shore up the Rouble. ![]() However, in 1998 Russia was running out of money. Yeltsin had burned through the country’s economy in the first Chechen war, despite reminding the US that ‘Russia has a full arsenal of nuclear weapons. On 31 December 1999, Russian President Boris Yeltsin ceded the Presidency to a 46-year-old Vladimir Putin. Karl Marx warns ‘history repeats itself, first as tragedy, second as farce.’ Hitler’s Anschluss with Austria is mirroring Russia’s annexation of Crimea, the encroachment in the Donbas with the occupation of the Sudetenland.īut as Putin assaults Kyiv, Russia is starting to resemble its own ghost of prior economic ruin. ![]()
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