Free Republic

"Military pay, ammunition, tanks, planes, and compensation for dead and wounded soldiers, all contribute to the GDP figures. Put simply, the war against Ukraine is now the main driver of Russia's economic growth" Foucart said... Other areas of Russia's economy are hurting as the war drags on. Moscow is slammed with a severe labor shortage, thanks to young professionals fleeing the country or being pulled into the conflict. The nation is now short around 5 million workers, according to one estimate, which is causing wages to soar. Inflation is high at 7.4% — nearly double the 4% target of its...

Ukraine will be a “humiliating fiasco” for America like Vietnam if Washington continues its muddied involvement, a Russian official said Sunday. Russian Foreign Ministry spokeswoman Maria Zakharova issued the scathing comment a day after US lawmakers in the House of Representatives green-lit a long-delayed $60 billion aid bill for Ukraine that will help the war-weary nation buy more advanced weapons and defense systems. “Washington’s deeper and deeper immersion in the hybrid war against Russia will turn into a loud and humiliating fiasco for the United States, such as Vietnam and Afghanistan,” Zakharova said, adding that it’s become clear the US...

Russian President Vladimir Putin insisted last August that a drop in the importance of the U.S. dollar was "irreversible"—but there appears to be no sign that the global economy is turning its back on the greenback. "The U.S. Dollar was used in 48% of international payment transactions last year, the highest level in more than a decade. But Brics...," it said next to the graph, which showed the euro making 23.2 percent of transactions and the Chinese yuan way behind at 3.47 percent. "BRICS countries would like their currencies to be used in world trade, but each has a major...

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions against 19 tankers that transported Russian oil under the flags of Liberia and Panama. SOURCE: US Department of Treasury DETAILS: It is noted that sanctions are imposed in connection with the violation of the restriction on oil prices. 18 tankers fly the flag of Liberia, and one sails under the flag of Panama. Two companies own the tankers: Hennesea Holdings Limited (UAE) and Cielo Marine Ltd (Hong Kong). It is known that the shipping firm Hennesea Holdings Limited (Hennesea), which is headquartered in the United...

Parts of Russian-annexed Crimea were left without electricity on Thursday after an emergency shutdown at a power plant, Russian-installed officials said. It was not clear what caused the shutdown.