Comment by rksbank
14 days ago
As a European, I can say that the sanctions did harm European economies, which is reflected in various political Eu government crises.
It is hard to know how much Russia has been harmed, because both sides probably exaggerate the figures.
I wonder whether "more harm" is the right question. The question should be whether the sanctions have any impact on Russia's war economy, which they do not. If anything, they make Russia more independent and strengthen Russian ties with China and India.
This is all to the detriment of the EU, the only one here who profits is the U.S. by making the EU more dependent.
> It is hard to know how much Russia has been harmed, because both sides probably exaggerate the figures.
> The question should be whether the sanctions have any impact on Russia's war economy, which they do not
Ruble is below a single penny.
Interest rates are at 21%, highest since 2003.
Inflation is out of control.
> they make Russia more independent and strengthen Russian ties with China and India.
ah, so that's why Putin went to North Korea to beg for troops and ammunition?
According to the IWF, 2024 inflation is 7.9% and GDP growth 3.6%:
https://www.imf.org/en/Countries/RUS
Germany has 2.4% inflation and 0% growth:
https://www.imf.org/en/Countries/DEU
I do not believe the German inflation numbers. Health care got 30% more expensive with more hikes coming, rents are exploding, groceries are 20% higher since 2022.
My healthcare has not gotten up 30%.
From my recent visits to Lidl, groceries have massively fallen in price. Last year my shopping bill was ~70 EUR, yesterday and the weeks before it is around ~50 EUR. I'd even say groceries are cheaper than before (eggs, oatmeal, apples,...).
Energy prices in Germany with my provider have dropped two times in a row and I got a letter this week announcing a new drop in prices on the 1st of January 2025.
The only thing that is too expensive is Döner. And here, several shops have closed to be replaced by new ones with lower prices, now that groceries (also frying oil) and energy are cheaper again.
I don't know about the Russian GDP, one would assume the growth is mostly from increasing weapon production and from replacing Western imports with in-country production. I don't think Russia is spontanously more productive. Both do not make life easier for people.
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