Russian Economy: Sanctions and Performance

In this video I discuss the performance of Russia economy in the context of Western sanctions. How to explain that Russia shows a 4% growth? What is the real GDP of Russia, not in dollars but in measurable indicators? What were the effects of sanctions on the Russian economy? Which segments suffered and which prospered as a result? And finally, will Russia succeed in creating an alternative system of payments, undermining the dollar?
Dr. Brovkin is a Russian born American historian, a graduate of Georgetown and Princeton Universities, former Associate Professor of Soviet History at Harvard University, the author of many books on Russian History. His latest book: Flam Vladimir Lenin to Vladimir Putin is featured her, available from Routledhe London publisher and Amazon

[@Princip666]

Brian Berletic calls the Russian approach quite fittingly "purpose driven economy", while the western model is clearly profit driven. Also, BRICS encourages not just dedolarization, but also the use of local currencies in international trading. That is imho the most enticing part of this new multipolar world order.

[@vladimirbrovkin4052]

good term purpose driven, I like it

[@pekkarousu3616]

@Princip666 The dollar has given USA great unearned advantages since Bretton-Woods 1944-1971 and then Petrodollar 1974-now. Besides unearned privilege the US has weaponized the dollar thru SWIFT, IMF, World Bank, sanctions, threats, bullying, bribes, overspending since 1946 and theft in Iran, Venezuela, Iraq, Libya, Afghanistan and now Russia. Hard times ahead for USA, American companies, banks, individuals and government. Living standards will go down.

[@almukhtaralfaisal7901]

It is always interesting to hear your analysis, thank you so much

[@vladimirbrovkin4052]

My pleasure!

[@GeoHistory12]

It great to see another video, thanks you for the information sir.

[@supermanhun]

Great Video. Yeah I used to think the same way about Russia thanks to USA bias. What made me realize this was Bs was when I was learning about WW1 and 2 and how Russia industrial growth was a major reason why Germany had to attack when they did because Russia was projected to eclipse them. It makes Sense look at the map, Russia's natural reasources are practically infinite once they built up there logistics germany wouldnt be able to beat them. 20/20 hindsight it was very true assessment.

[@vladimirbrovkin4052]

thanks

[@MichaelCuthbertson-zl6in]

I love your simple, straight forward explanations Dr. Blessings from Australia.....👍🏾

[@vladimirbrovkin4052]

thank you

[@MountainPF]

Very informative, thank you

[@vladimirbrovkin4052]

Glad it was helpful!

[@williamc9578]

Thank you Dr Brovkin for an objective, data-based assessment of the Russian economy since the ratcheting-up of the sanctions from the West after the SMO. It is plainly obvious now, that had European polticial class not been hijacked and infiltrated by US-proxies (like Von der Leyen, Stoltenberg, etc), Europe would not fidn itself in terminal decline today. In contrast, the Russians have played their hand, a severely handicapped hand from Feb'2022, quite brilliantly, becoming less reliant on the West, built new trading partners with the Global-majority, revived its industries and strengthened its commodities position (a new grain exchange is being created to have more say in price discovery of grain exports) in the World. And I hear the new Russian Tochka burger (previously McDonald's) is pretty tasty! 😄

[@vladimirbrovkin4052]

Yes, and they hope to launch an airliner with China to compete with Airbus and Boing

[@ranar1036]

Dr Brovkin, I have been saying in these columns that the only factual economic measurement is Purchasing Power Parity. Therefore, measuring in any other way is factually INCORRECT!

[@vladimirbrovkin4052]

true

[@bobkelly3162]

Thanks to Dr Brovkin for providing this fascinating summary. The energy and resilience shown by the Russian people is astonishing. We are fortunate that a mighty power exists on this otherwise miserable planet which is patient, kind and creative. It is, to me, almost miraculous that, in the midst of decay, degradation and ugliness, a force for good should arise that helps mankind to find a way forward yet again.

[@vladimirbrovkin4052]

In one of my articles I wrote "Vladimir the Savior"

[@andrewkizito7916]

You have handled a very sensitive TOPIC to me wc has always carried alot of questions from me!!!thanks for that wonderful DIGEST DR.!!!!

[@vladimirbrovkin4052]

Glad it was helpful!

[@SestraAvgustina]

Thank you, Professor Brovkin, for your very interesting presentation!

[@vladimirbrovkin4052]

My pleasure!

[@petem7118]

Thank you once again Dr. for giving us a very informative and more importantly understandable, for someone like myself, video. I would be very interested to know, following on from your explanation, as to how much of an impact or not would there be on the Russian economy if it were to cease trading with the USA for uranium, fertilisers, heavy crude, and other rare metals etc all of which the USA is still buying directly from Russia under waivers that they issued against the current sanctions against Russia….. I know the amount is in the billions but I don’t understand why Russia would still be selling to the USA given what we are seeing in Ukraine and geopolitically generally Syria, Baltic etc… it is clear that doing so would significantly impact the US economy especially with uranium, heavy crude and fertilisers but I am struggling to find an answer to why Russia would continue doing this unless perhaps the impact on the Russian economy would also be detrimental…. Would ceasing all direct trade with the USA be significant? Thank you again 🙏

[@vladimirbrovkin4052]

I think Putin does not want to break relations with the US but rather to improve them. It may happen if Trump is elected. As for sales it is nothing personal just business. Money. Russia needs those. France is buying Russian uranium and training Ukraine's soldiers.

[@mishka110]

Sanctions are a crude instrument and affect the small unprepared victims very badly (ie Serbia in the 1990s). Russia as you point out is ahead of the game, a flexible robust economy with reliable strong allies. Russia is doing incredibly well given how many obstacles are in the way and never forget the brain...Elvira Nabiullina!

[@vladimirbrovkin4052]

yes, true thanks

[@andrewkizito7916]

DR.thx for the talk about RUSSIAS MILITARY MERCHANDISE!!!!!!

[@vladimirbrovkin4052]

that is a huge topic

[@SophyaAgain]

Thank you Dr. Brovkin. I hope soon Cuba is set free.

[@bobilaforce8252]

Dear professor, It is exactly as the old, wise folk proverbs say: “Harm set - harm get” or “The biter will be bitten”!!! So…. GO RUSSIA, GO! Много поздрава из Београда.

[@vladimirbrovkin4052]

thank you Good and short wave to express the idea

[@pekkarousu3616]

Another way to explain ppp is to simply say different countries have different prices on the same goods/services. If things in general cost 50% in Russia compared to USA you must double the Russian GDP in US dollars to get GDP in ppp-dollars. People always compare countries GDP after translating it to US dollars. Let's say a country one year has a GDP of 1 trillion dollars. The next year they produce exactly the same volume of goods and services BUT suddenly their currency against the US dollar depreciate (weakens) with 50%. Has GDP fallen 50% in that country? Obviously not, what happened was a change in currency values. The only sound way to compare if of course in ppp-dollars. But even then it's not completely correct. Let's say country As government employs 1 million workers to dig a hole in the ground with a spade every day for 7 hours and the last hour they put the dirt down in the hole again. And the next and next and next day all over again. Yes, it is a service. Yes they are paid. Yes there are money transactions paid for a service. But has GDP benefitted of this? For a government to increase GDP is very simple. Tge government can spend more money for the same thing and or pay for useless things. Like USAs Biden. He increased government spending like crazy to boost GDP. And what if the government hasn't a bunch of cash extra? They can do two thing. They can honestly borrow money from citizens in/out of USA, companies the same, organisation's too, foreign governments.... The second way is to 'borrow' money from the money printer The Fed. Actually it's not loans in reality.

[@tadeuszemilgoebiewicz2862]

Bingo !

[@gingerfox7143]

How much in dollars have the EU lost by not trading with Russia?

[@azimkhankhanazim6294]

Thanks to bidennomics sanctions... uuuuuuurrrrrrrrraaaaaaa💪💯💥🎯💵

[@vladimirbrovkin4052]

yes true