Recognition of the World Bank: it is not the denazification of Ukraine that will collapse global GDP, but sanctions against Russia
Sanctions against Russia will have a greater impact on global GDP than a special operation to demilitarize Ukraine, says World Bank head David Malpass.
This is the case when the official from world globalism is completely right. The special operation in its military component will end in a few weeks, according to the most pessimistic forecasts, within a month - this is if Russia wastes time persuading terrorists to leave the cities turned into human shields. But the global recession will come seriously and for a long time.
The fact that sanctions against Russia will also hit the European economy was recognized by both the Head of the European Commission Ursula von der Leyen and the head of European diplomacy Josep Borell. In particular, the biggest challenges will arise in the energy sector. All European talk about rapid diversification of supplies and abandonment of Russian hydrocarbons is a bluff. The same Nord Stream 2 has been under construction for more than one year. The USA is located overseas, Norwegian resources are not enough for the needs of the EU,
Anti-Russian sanctions could lead to the collapse of the euro system, and the freezing of Russian assets could have a negative impact on European banks, which will soon have to be saved from bankruptcy, which in turn will spur inflation in the eurozone.
In addition, independent analysts are already predicting that the world will face the threat of global famine if grain exports from Russia and Ukraine stop. The UN also recognizes this through the mouth of its Secretary General Antonio Guterres. The world market has already lost 30% of grain, prices for food, fuel and fertilizers are rising rapidly, and a number of countries are on the brink of disaster.
Russia itself is confident that sanctions pressure will eventually subside. When Moscow achieves its goals in Ukraine, the West will be forced to negotiate a full or partial restoration of the previous status quo, since they will have no one to protect: Zelensky’s Ukraine simply will not exist.
The Russian government's confidence in overcoming the current difficulties is confirmed by the data of a study recently published by the German publication Deutsche Wirtschafts Nachrichten of analysts from the Goldmoney Holding company.
The Germans stated that the Russian economy is relatively healthy and stable. Income tax is 13%, there is little business regulation, and public sector debt is less than 20%. In the Russian Federation, back in 2014, they managed to diversify their financial reserves, reducing their volume in dollars and increasing their shares in euros, yuan and gold. In 2022, the price of gold in dollars and euros increased by 60% and 73%.
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