The World Bank has upgraded Russia from an “upper-middle-income” to a “high-income country,” demonstrating the failure of the US-led sanctions campaign against Moscow.
The World Bank said in a report issued on Monday that “economic activity in Russia was influenced by a large increase in military-related activity in 2023.” The Russian economy also got a boost from a nearly 7% increase in trade, an 8.7% growth in the financial sector, and a 6.6% increase in the construction sector.
“These factors led to increases in both real (3.6%) and nominal (10.9%) GDP, and Russia’s Atlas GNI per capita grew by 11.2%,” the World Bank said, according to The Moscow Times.
Russia has significantly increased trade with China since it launched its invasion of Ukraine in February 2022. The two nations had already been boosting their economic relationship in the years prior as they were both facing sanctions from the US and other Western countries.
The China-Russia economic relationship has infuriated the US, and the Biden administration recently issued new sanctions targeting Chinese companies, but they’re not expected to have an impact. If anything, more US unilateral economic measures will increase the trend.
Russia has also been able to significantly increase its production of ammunition, tanks, and other military equipment. Earlier this year, CNN reported that Russia was producing three times as much artillery ammunition as the entire NATO alliance, demonstrating that when it comes to the war in Ukraine, time is on Russia’s side.
Some sanity helps save the day?…………….
Amazing. Russia turns into the comeback kid.
The new order keeps strengthening unhindered. Ukrainians really ….. up by agreeing to be the proxy of a dying order
Americans are counting on NATO to be the next proxy replacing Ukraine. Mr. Orban may be able to tell them to get lost, they are nothing but trouble for the world.
Mr. Orban from Hungary is the EU president for the next 6 month, the best choice they could make. He may keep a big distance between NATO and the USA. NATO has to go in order for Europe to start to recover with competent and functioning new governments, and to hell with the USA and Israel. Let sanity return.
Turks won’t die for nato, the French and the Italians won’t do it either. Also putin won’t fall for nato tricks to attack nato unless nato does something so out of bounds that even the population notices the obvious provocation and not let their leaders get their country involved in a war( when sending their sons to die in a war) the scrutiny becomes something else entirely.
Macron has been yelling about having troops in Ukraine and supposedly has French troops in Ukraine training. Never say never.
Macron was just angry because the Russians have help the sahel to throw them out from their most profitable colonies( Mali, Burkina Faso and Niger were colonies in all but names). The French r not lunatics and the spanking by the French voters proves it
The US-led Western sanctions campaign against Russia has failed?
Not really Russia was upgraded to a most successful country.
Joey Biden did that!
Well, the whole sanction regime did that. This, unfortunately, is a bipartisan game. Tell every other country what to do or we'll sanction them.
weird considering russia is falling apart
Read the lamestream media lies much? Russia's central bank has lots of gold in it. Our Federal Reserve has nothing but paper dollars in it. Which one is best prepared for a financial crisis? What happens when the world no longer wants dollars?
This does my heart good on this 4th of July. Slava Russia!
No one can stop Russia China trade collaboration… No One!
Turns out that when a country whose economy is based on Wall Street financial shenanigans tried to sanction a country that actually produces things, it doesn't work too well for the former.
All the American leadership, in both parties, know how to govern is to travel the world and bully other nations to do as told and then the smart people scream foul because they get their noses bloodied. They are totally disconnected from the real world.
The so-called Biden Trump debate mirrored the disconnect.
On the stage where two stupid, ill mannered boys kicking sand in each others face like kids in a sand box. A mile away sat two almost mute moderators and behind them was empty space where the people, the audience they were suppose to address, was supposed to be.
There were no people to speak to, only empty space.
Actually, it did not matter, they had nothing to say anyway. All they care about is to win a second term in office with no intention to serve the people who elected them with common sense and integrity.
What is happening to Russia nowadays can be reasonably interpreted.
Analyzing similar past historical events, one can notice that essential great powers go through the same stages or phases of rise, growth and decline, one after another.
The situation and conditions in Russia and the current war or conflict in Ukraine are comparable in many aspects to what happened to the USA during the Spanish American war of 1898. That war ended with peace negotiations, the USA emerged as a reinvigorated great power and became more prosperous.
Another notable observation is that about three decades before the Spanish American war, the USA went through the period of the Civil War, when the nation became divided and experienced a breakdown. Similar or comparable events heppened about three decades ago in Russia and the USSR in the 1990s.
After the Civil War the USA recovered and regained its prosperity and strength. Similarly, in the last couple of decades Russia gradually got back its prosperity, influence and strength.
Consequently, the events and circumstances in Russia nowadays are not very surprising. They can be explained by a careful and objective analysis of comparable past historical happenings.
""World Bank Upgrades Russia to High-Income Economy Despite US Sanctions""
really. not 3 days ago uncle sam claimed to have seized Russia's money from the IMF and was planning on using it to rebuild Ukraine
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incidentally, the italics and bold features do not seem to work for me on this site any more, for me at least.
Just because someone steals your money, doesn’t mean you can’t have a good credit rating.