Andrey Moffchan, who lives in the United Kingdom and specializes in the Russian economy, responded to an interview with NHK about the impact of severe economic sanctions on Russia from Western countries.
In this, Mr. Moffchan said that "Russia is no longer separated from the world market" about the US and others imposing severe economic sanctions to keep certain Russian banks out of the international payment network called SWIFT. Said.
After the collapse of the Soviet Union, he said, "The supply chain will collapse at once as in the early 90's, resulting in a large-scale corporate bankruptcy. This is a very serious change." He said he could return to such a confused era.
In addition, he said that the deterioration of the economy would reduce the income of the people and that the country would provide a large amount of subsidies for housing and public works projects. It's a return to the socialist system. Russia is now shut down from the world and becoming a holistic dictatorship open only to China. "
And as the ruble fell sharply, President Putin signed a presidential decree that temporarily allowed foreign debt to be repaid in his own currency, the ruble, instead of foreign currency. That's what the decision to pay in the ruble means, "he said, pointing out that there are already serious concerns about Russia's ability to pay debt.
"It's easy. It's just a ceasefire, withdrawal of troops, and some sort of agreement with Ukraine," Moffchan said of measures to mitigate the impact on the Russian economy. I showed the view.