catcha
Full Member
That is also unsustainable as they are selling energy off at cost/loss to India/China etc while Ukraine is attacking their energy infrastructure and they are dependent on western tech and parts.
Imagine losing wealthy Europe as a customer for your only major export?
Also helping the huge pivot to renewables.
<great BRICS vibe on>they were selling to India
but paid in INR and could not use the money, and India's concerns got ultimatum and stopped using russian tankers, edit: and cancelled ALL contracts with russia including military ones<great BRICS vibe off>
<great BRICS vibe on>they were increasing trade with China
but China does not want their oil, is not interested in building infrastructure to transfer it and russian market has been colonized by Chinese companies<great BRICS vibe off>
"fun fact": France is the largest importer of russian LNG... still
edit:
another thing is that the economy of size of Italy which was shrinking last two years and the growth got calculated on fixed and unrealistic FX bounces up 10%, it is still nothing comparing to Italian size economy which was growing 2% last two years. And russian economy is not a major economy in the world - it is a petrol and crude materials depot.
Data quality grade definitions:
A: As good as it gets
B: Good
C: Use with caution
D: Poor
E: Extremely poor quality
Last edited: