Russia in the context of the military operation in Ukraine seems to be winning a no less relentless economic war.
The unprecedented waves of sanctions were aimed at crippling Russia’s economy and eroding its military capability by shutting it out of the international banking and banking system (SWIFT).
Russia, for its part, used this attack as an opportunity to achieve the reorientation of its foreign trade with the countries of the Global South, with the vehicle mainly energy products, strengthening the BRICS alliance (of which it is the presiding country) and de-dollarizing its economy using the Chinese currency and local currencies in general in its bilateral transactions.
In late January, the International Monetary Fund more than doubled its forecast for Russia’s economic growth rate this year (2024), raising it to 2.6% from 1.1% in October.
These undisputed figures drew the ire of Western propagandists who accused the IMF of “playing Putin’s game”, even though the figures spoke of huge defense spending approaching 40% of GDP in 2024 and reports that the consumption standards in the country have similarities with those of the “defiant” Soviet Union, according to the statements of the head of the Fund Kristalina Georgieva.
Nearly two years after Russia’s all-out invasion of Ukraine, the Pentagon has conceded defeat by unveiling new figures on the cost of the war in Moscow.
The elements of the Pentagon
Military operations in Ukraine have cost Russia up to $211 billion, and the country has lost $10 billion in canceled or “frozen” arms sales.
At least 20 medium to large Russian naval vessels have been sunk in the Black Sea and 315,000 Russian servicemen have been either killed or injured, according to US Defense Department figures.
These figures are in part an attempt by the Pentagon to show its work on the effects of aid to Ukraine. US support for Ukraine – supposedly – helps a democratic partner defend itself, while at the same time undermining America’s second-ranking adversary, Russia.
Pentagon estimates show just how deep that cost has been. And yet, the current state of war as precarious for Ukraine, not Russia.
The battle in the House of Representatives
A version of that deal passed the Senate with a bipartisan consensus, but has little chance of success in the House, where Republican Speaker Mike Johnson has said he won’t bring it up for a vote.
Meanwhile, Ukrainian forces are running out of ammunition and air defense systems, which help protect the country’s critical infrastructure from Russian attacks. The US is not the only country sending military support to Ukraine.
This week marked the 19th meeting of the Contact Group on the Defense of Ukraine, a group of countries that have helped bolster Kiev’s self-defense over the past two years.
Canada pledged $60 million to support Ukraine’s air force, and Germany announced a $1.2 billion aid package for air defense and artillery systems. But it was notably the second straight meeting in which the US did not provide aid, a streak that will continue if the supplemental funding bill does not pass Congress.
Conclusion: Instead of draining Russia of the financial resources to wage the war, this is happening for Ukraine and it is self-evidently determining the developments on the front as well.
