The cost of war: how Russia’s economy will struggle to pay the price of invading Ukraine

March 12, 2022March 12, 2022 Mohammed Abbasi

Renaud Foucart, Lancaster University The invasion of Ukraine has placed Russia on the verge of bankruptcy. Interest rates have doubled, the stock market has closed, and the rouble has fallen to its lowest level ever. The military costs of war have been exacerbated by an unprecedented level of international sanctions, sustained by a large coalition of countries. Russian citizens, now unable to spend at IKEA, McDonald’s or Starbucks, are not allowed to convert any of the money they do have into foreign currency. Generous estimates suggest the Russian economy could shrink by 7% next year, instead of the 2% growth … Continue reading The cost of war: how Russia’s economy will struggle to pay the price of invading Ukraine

Russian sanctions as war and farce

March 22, 2014March 22, 2014 Mohammed Abbasi

If we come to a minefield, our infantry attacks exactly as if it was not there – Marshal Georgy Zhukov Let’s start with the serious stuff. As Russia’s Federation Council ratifies a treaty with Crimea, concluding the formal annexation, Ukraine signs the political chapters of an association agreement with the European Union (EU). The signing of the full EU agreement will only happen later in 2014. These are the facts on the ground. Now let’s turn to comedy hour – also known as the sanctions war. The oh-so democratic EU has punished the democratic Crimea referendum by sanctioning 33 Russians and Crimeans … Continue reading Russian sanctions as war and farce

US sanctions bleed Iran’s health system

October 26, 2013 Mohammed Abbasi

By Kaveh L Afrasiabi Slowly but surely, in a scenario reminiscent of pre-invasion Iraq, unilateral Western sanctions on Iran are having devastating effects on Iran’s healthcare sector, adversely affecting the well-being of millions of ordinary Iranians – cancer patients first and foremost. [1] According to the latest reports from Iran, despite a recent US easing of sanctions for the export of food and medicine to Iran, the current financial restrictions continue to prove a formidable obstacle for the delivery of medicine and medical equipment to Iran. Not only that, the US and its allies have blocked an offer by the oil … Continue reading US sanctions bleed Iran’s health system