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Cake day: April 4th, 2024

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  • Quotes from the article (emphasis mine):

    “A relatively good period for the Russian economy, which was based on previously accumulated resources, is over,” said Oleg Vyugin, an economist and former top central bank official. “High inflation eats away at all that seemingly short-lived success.”

    “If we talk about the middle class, it feels fine now,” said Sergey Dmitrieyev, an IT specialist from Moscow. “Less well-off people are feeling more stressed.”

    The agriculture sector is also feeling the squeeze. “The risk of bankruptcies is rising along with the key rate,” said Eduard Zernin, who served as the head of the Russian Union of Grain Exporters. “When farmers need to fund the sowing in the spring, we will see if those risks materialized.”

    It will be “a year of belt tightening,” said Sofya Donets, an economist at T-Investments. “Creditors win, and borrowers can hardly imagine how they will live.” […] “In some quarters, growth may be negative next year. For now, our main forecast is still growth by the end of next year, slightly below 1%.”

    “The main risks for Russia are problems with payments,” said Alexey Vedev, a former deputy economy minister.

    State-controlled pipeline operator Transneft PJSC and Russian Railways JSC sharply cut investment programs partly due to borrowing costs.

    Private businesses […] are also trimming expenditures, while United Co. Rusal International PJSC, a top aluminum producer, is considering cutting output by more than 10%, citing the economic situation as one of the reasons.









  • What would be the alternative? One consequence of the so-called ‘multi-polar world’ will be a limited flow of capital between different blocs, limited cross-border investments across multiple industries, which might lead to market fragmentation and a divergence of technical standards. We could see degrees of globalization we had back in the 1990s.

    Countries like Russia don’t seem to care about international law (or they care only if it is in their favor). This summer, some officials also discussed the seizure of China-owned infrastructure in Europe regarding Beijing’s support for Russia in its war against Ukraine. Russia and its allies will remain a threat to democracy which is their only real enemy. Russia won’t stop with Ukraine if they get what they want.

    So, what’s the alternative?



  • How Russia prepares children in occupied Ukraine to fight against their own country

    Russia is using a militaristic youth organization, Yunarmia, to foster the loyalty of teenagers in occupied parts of Ukraine and prepare them to fight in Moscow’s war against their native country […]

    Russia opened the first Yunarmia branch in the occupied territories of Ukraine in Crimea months after the organisation’s official formation. By September 2016, Yunarmia had spread across the Black Sea peninsula, according to Oleh Okhredko, an analyst at the Almenda Center Of Civic Education, a Ukrainian group whose activities include documenting violations of the rights of children in wartime […]

    In 2014, Russia occupied Crimea and fomented war in the Donetsk and Luhansk regions in eastern Ukraine – the Donbas […]

    Yunarmia “was created with the specific idea of the militarised reeducation of not only Russian [children] but also Ukrainian children from the occupied territories,” said Kateryna Rashevska, a lawyer at the Regional Center for Human Rights, which was forced to move from Crimea to Kyiv after the Russian occupation.

    By January 2022, a month before Russia’s full-scale invasion of Ukraine, Yunarmia had 29,000 members in Crimea alone, according to the Russian Defence Ministry […]