Ukrainian National Agency on Corruption Prevention maintains a list called International Sponsors of War that includes companies and individuals still doing business with Russia. The majority of countries which sanctioned Russia following its 2014 annexation of Crimea began imposing additional sanctions to punish Russia for invading all of Ukraine - a move for which Russian President Vladimir Putin had long prepared. Many companies were not impacted by sanctions against Russia but ruled in favor of cutting ties with the country either due to the public pressure or in protest of the Russian government's actions, or both. Ukrainian institutions have stated that the need for these measures is urgent. The response can be broadly divided into a "cultural boycott", aimed at amplifying the international condemnation of the invasion, and an "economic boycott", which is designed to make the war effort less sustainable. As a result of the latter, several commentators have warned of an unprecedented economic collapse in Russia's future, citing a 30% drop in the ruble's value, a 20% rise in interest rates and a 1% GDP expansion down from 1.7%. Analyses by multiple firms project year end GDP contraction of at least 5% and inflation of 15%.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |