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Can Russia鈥檚 economy survive?

Sanctions designed to punish Russia for its invasion of Ukraine are beginning to bite.

Just two weeks after Russia鈥檚 full-scale invasion of Ukraine the conflict has already begun reshaping the world. The bombardment of Ukrainian cities has led to the deaths of thousands of civilians and forced millions to flee the country. But the war has also completely upended the global economy. Russia is paying the heaviest economic price, as it grapples with Western-led sanctions on its banks, major industries and individuals associated with President Vladimir Putin. There are growing fears in Moscow that basic supplies of essentials like food and medicines may be disrupted. But attempts to cut Russia off from the global economy are impacting nations and industries across the planet. Oil and gas prices are up, as are the cost of key commodities such as wheat. Global supply chains have already been disrupted by the pandemic and now the war in Ukraine - and the inflation it鈥檚 causing - is adding to the woes of some of the poorest people on Earth. So how long can the Kremlin hold out? As the threat of Russia defaulting on its debts increases, what does the future hold for the country鈥檚 economy and its workforce? And how high a price will we all pay as a result of the conflict now playing out in Eastern Europe?

Ritula Shah is joined by a panel of experts.
Producers: Junaid Ahmed and Paul Schuster.

Available now

49 minutes

Last on

Sat 12 Mar 2022 15:06GMT

Contributors

Jacob Kirkegaard - Senior Fellow at the German Marshall Fund of the United States

Torbj枚rn Becker - Director of Stockholm Institute of Transition Economics

Rebecca Harding - CEO of Coriolis Technologies

Featuring

Yvonne Mhango - Africa Economist, Renaissance Capital

Picture

The Kremlin towers reflected in a McDonald's display in Moscow, Russia. Credit: Oleg Nikishin/Getty Images

Broadcasts

  • Fri 11 Mar 2022 10:06GMT
  • Sat 12 Mar 2022 04:06GMT
  • Sat 12 Mar 2022 15:06GMT

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