As President Biden prepares to speak tonight to Americans about the future of a troubled United States, some analysts believe Russian President Vladimir Putin is escalating efforts toward his vision of victory in Ukraine while unleashing payback aimed at Western government sanctions and corporate divestitures now crippling Russia’s economy.
Even traditionally neutral Switzerland stood with the West against Russia on Monday, and Shell, which has helped enrich Russia over the years in the energy industry, exited projects there worth $3 billion with the explanation that the company “would not stand by.”
The Associated Press: To keep Russia’s economy afloat, the Kremlin eyes workarounds to mitigate the effects of global sanctions.
The Russia-Ukraine military war, now entering a sixth day, is described as just beginning (The New York Times and The Hill). But in Russia, waves of international sanctions are hitting with full force. The value of Russia’s currency vaporized, despite efforts by Russia’s central bank, its reserves largely frozen, to try to stabilize the ruble (The New York Times and The Hill). Russians raced to pull currency out of ATMs as they watched the value of their assets plunge while costs of consumer goods soared and Putin appeared unrelenting.