Russian economy is worse than you think | Putin is destroying Russia

Video Summary

The Russian economy is not doing as well as President Putin claims. Despite Putin’s assertion that sanctions don’t have an effect, the numbers tell a different story. In 2022, Russia’s income decreased by 20%, with oil and gas income falling by 45%. Taxes have also fallen by 21%, and expenses have risen by 34%, resulting in a budget deficit. Additionally, many educated and skilled Russians have fled the country, including 700,000 men who left after the war started, which will have long-term effects on the country’s future.

Despite these challenges, Russia is still receiving large sums of money from its fossil fuel exports, with 154 billion USD coming from the European Union in 2022 alone. However, the EU’s sanctions on Russian oil products are having an effect, with prices decreasing and Russia’s income from fossil fuels falling.

Meanwhile, Western Europe is grappling with an energy crisis, and companies like mcf Energy are capitalizing on the situation. mcf Energy is a natural gas exploration company that is leading the charge in Western Europe, with plans to start drilling in Germany and Austria in 2023. With natural gas deposits available in Europe, companies like mcf Energy can reduce dependence on imports and ensure energy security. The EU is investing heavily in LNG infrastructure, but this will take time and is a short-term solution. Instead, companies like mcf Energy are providing a sustainable and local solution to the energy crisis.