kathimerini.gr
Russia's War Economy Slowdown Causes Tensions Among Elite
Russia's war economy is slowing, impacting businesses and causing tensions among the economic elite as the war in Ukraine nears its fourth year; this slowdown is partly attributed to Western sanctions, while the Central Bank faces criticism for its high-interest-rate policies.
- What is the immediate impact of Russia's slowing war economy on its economic elite and businesses?
- Russia's war economy is slowing, causing tensions among the economic elite as the war in Ukraine nears its fourth year. Many non-war-related sectors stagnated or shrank in October, official data shows. The ruble recently hit a two-year low, and businesses report difficulty securing loans or payments.
- How are Western sanctions contributing to the economic difficulties faced by Russian businesses and the Central Bank?
- The slowdown comes despite record government spending on the war effort. Western sanctions, economists argue, are contributing to the slowing growth and rising inflation. For example, Russian Railways, the country's largest employer, reported a nearly 9% drop in freight volume in October.
- What are the potential long-term consequences of the conflict between Russian industrialists and the Central Bank, and how might this affect Putin's war goals?
- The Central Bank of Russia, the last relatively independent state entity, could become a scapegoat for the slowdown. Tensions are rising between Russian industrialists and the bank over borrowing costs, with the blame for the economic slump being subtly deflected from the war, which could anger Putin. This is leading to accusations against Central Bank Governor Elvira Nabiullina for her high-interest-rate policies.
Cognitive Concepts
Framing Bias
The framing emphasizes the negative consequences of the economic slowdown within Russia, highlighting the difficulties faced by businesses and the tension between industrialists and the central bank. The headline and introduction set a tone of economic hardship, potentially overshadowing other aspects of the war's impact or potential Russian responses.
Language Bias
The language used is relatively neutral, though terms like "economic hardship" and "crushing the economy" might be considered slightly loaded. The use of the word "crushing" could be replaced with a more neutral term like "affecting" or "impacting".
Bias by Omission
The article focuses primarily on the economic slowdown and internal tensions within Russia's elite, but omits potential perspectives from the Ukrainian government or international organizations regarding the impact of the war and sanctions. The lack of diverse perspectives might limit the reader's ability to fully assess the situation.
False Dichotomy
The article doesn't explicitly present a false dichotomy, but it subtly implies a correlation between sanctions and economic hardship without fully exploring alternative factors contributing to Russia's economic challenges.
Sustainable Development Goals
The article highlights a slowdown in the Russian economy, impacting various sectors and leading to job losses and reduced investment. The sanctions imposed by Western countries further exacerbate the situation, affecting employment and economic growth. The conflict in Ukraine is a major driver of this economic decline.