Sergei Guri, a former economic adviser to the Russian government who fled to France in 2013, said the Russian economy could go back twenty to thirty years as Russian President Vladimir Putin threatened his own regime by attacking Ukraine.
Putin was able to wipe out the Russian economy in a matter of weeks
Said the former chief economist of the European Bank for Reconstruction and Development (EBRD), who is currently a lecturer at the University of Political Science in Paris. He said that Russia would face a major recession and bankruptcy due to Western sanctions.
The Russian economy has stagnated for the past eight years, but now what he is facing is twenty to thirty years backwards, says Sergei Kuriev. Russian economy In terms of household income and the structure of the economy.
He said sanctions should not be delayed, but that if their goal was to contain Putin’s war, Europe would have no choice but to buy more of Russia’s oil.
If all Western nations join in this effort, China may also encourage them to pursue an oil embargo and lose his resources to continue Vladimir Putin’s brutal war.
Said the Russian economist.