Moscow to lose 200,000 jobs as Russian economy falters, mayor says
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Moscow is set to lose 200,000 jobs as the Russian economy falters in the face of Western sanctions over Russian President Vladimir Putin’s invasion of Ukraine, the city’s mayor said on Tuesday.
The potential job loss comes as Putin tries to play down the impact of sanctions, indicating monday that “NATO’s economic blitzkrieg strategy did not work. Moreover, the initiators themselves could not get away with the sanctions”.
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Sanctions against the Russian economy have only intensified in recent weeks amid revelations of alleged war crimes committed by the Russian military in Ukraine.
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Despite Putin’s confidence, the mayor of Moscow, Sergei Sobyanin, sounded the alarm bell for the Russian capital on Tuesday.
President Joe Biden and other NATO leaders have pointed to evidence of Russia’s weak economy since sanctions began. The Russian ruble had lost nearly half its value in the second week of March, less than a month after the Russian invasion.
Nevertheless, some Western experts say the sanctions campaign is not having the desired effect on the Russian economy despite the weakened state of its economy.
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“We drove up the price of oil with half measures that didn’t achieve our goals,” Rich Goldberg, a member of the Vandenberg coalition’s advisory board and a member of the White House National Security Council, told AFP. Fox News Digital in March. “Sanctions must be tailored to the appropriate situation to have the desired impact, achieve a certain outcome. Not all punishments are created equal. Not all punishments are created equal and not all situations deserve the same type of punishment. .”