Why russia has become like this..!! Situation of Putin..?

The head of Russia's central bank said in an announcement on friday that the country's economy will shrink to around 3 percent in 2022. From the level of growth recorded in 2021, it has recorded a sharp decline in 2022. It has recorded a -3 percent growth in 2022 compared to 2021 growth. The country's economy has slumped to -3 percent due to successive sanctions following Russia's war on ukraine and the withdrawal of international institutions. Elvira Nabiullina, governor of Russia's central bank, told reporters after the bank's executive committee meeting on friday that inflation was taking a more serious toll. Poor trade conditions Similarly, Russia's poor trade conditions with foreign countries are the main reason for this major decline, he explained. Elvira Nabiullina said Russia's annual inflation stood at 12.7 percent, according to data through December. Gross Domestic Product Russia's GDP grew by around 4.8 percent last year. But due to this year's Russia-Ukraine war and its effects, the country's economy is -3 percent in 2022. At the end of February, over the protests of many countries around the world, russia decided to resolve the years-old problem by war and sent its troops to its neighbor Ukraine. Sanctions Protesting Russia's decision, many countries imposed various sanctions on russia, including economic sanctions, trade sanctions, and financial sanctions. As a result, foreign companies operating in russia had to leave russia empty-handed. As crude oil prices hit Russia's trade hard, russia cut off its crude oil and gas supplies as a check to all countries supporting Ukraine. As a result, europe as a whole is now in great trouble. All of the G7 countries have sided with ukraine in this situation, including in particular the G7 which this month imposed a price cap on one of Russia's main exports, Russian crude oil, to further worsen Russia's financial situation.That is, all the countries that support ukraine have announced that they can sell Russian crude oil from russia only at the price of 60 dollars. Similarly, it has announced that insurance and shipping will not be provided when selling to other countries for more than $60. russia will suffer from the loss of revenue from January, while the european union will suffer from a shortage of crude oil as european countries are banned from buying crude oil by ship from Russia.
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Sowmiya Sriram

17/12/2022 10:56 AM