Brief version of the news
- Russia is losing its main sources of income, gas and oil, which is already leading to the formation of a “queue of sufferers.”
- Unprofitable enterprises such as Rusal are becoming too dependent on government support due to sanctions.
- The Russian coal industry is also beginning to experience problems with exports and transportation due to restrictions and increased tariffs.
In the near future, Russia will lose its main sources of income – gas and oil. Vladimir Putin is in no hurry to lead the country out of the crisis. But he is preparing a law that will once again take away the last of the money from poor and rich Russians.
This assumption was made in a conversation with 24 Channelshared Doctor of Economic Sciences Igor Lipsits, noting that in the aggressor country a “queue of sufferers” is forming, awaiting support and payments from the state.
There are more and more unprofitable enterprises
The Doctor of Economic Sciences said that in the “queue of the suffering” there are already coal miners, oil and gas workers, airlines and the like. Everyone needs funds, because the damage is colossal. The work takes place in an unpleasant situation. They officially demonstrate optimism, but at the same time intensively ask for money.
Russian aluminum giantRusal fears that up to 36% of its sales could be at risk as a result of sanctions imposed by the US and UK. The company may be forced to cut production. Therefore, she invited the Russian authorities to independently buy aluminum from her. That is, to create an aluminum reserve in Russia, and not a gold-currency reserve. “may turn out to be an unprofitable company. The same problem is with airlines that ask for funds so that they can fly around Russia and transport citizens. Gazprom has already received 400 billion rubles from the National Welfare Fund, because there is no money, but it is necessary to build a plant for liquefied gas,” emphasized Igor Lipsits.
Now the problems begin in the Russian coal industry. Companies can only export products to China, but the capacity does not allow much to be exported. Russia is trying to expand its rail service, but it is costly and slow. Because of this, it is not possible to increase supplies. The Kremlin has further created problems by increasing tariffs on coal transportation.
Lipsitz said that an increasing number of sectors of the Russian economy are becoming unprofitable and cannot exist without government support. Next year, Gazprom will be added to the “queue of sufferers.” Losses of about a trillion rubles are expected. In order for the company to continue operating, it will need to pay subsidies. It turns out that those industries that should feed the budget, on the contrary, are beginning to demand help from it. This is starting to resemble the 1980s, when in the last years of its existence the USSR became a bankrupt country.
Sanctions against Russia
- The United States and Great Britain have taken measures aimed at expanding the ban on imports of metals from Russia. They ban the import of Russian-origin aluminum, copper and nickel into the United States. The sanctions also restrict the use of relevant metals on world exchanges and in over-the-counter trading in accordance with measures previously adopted by both countries.
- The day before, the Japanese government expanded the ban on exports to Russia. It included 164 additional manufactured goods in the list. This includes lithium-ion batteries, gas turbines and motor lubricants. The list also includes thermostats, nitrocellulose products and woodworking machines.
- In addition, from May 10 A ban on the import of Russian diamonds for non-industrial use, announced after a virtual meeting between Japan and other G7 countries with Ukrainian President Volodymyr Zelensky in December, will come into effect.
