Russia’s Looming Economic Collapse
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The war in Ukraine is being fought on two battlefields. The first battlefield is geographic. It is the land Russia is tearing up with tank treads and pounding with missiles.
The second battlefield is made up not of physical particles, but rather of relationships—contracts and promises between nations, banks, companies, and individuals. This is the economic arena.
While Russia holds the military advantage over Ukraine on Battlefield One, it is getting destroyed by a Western alliance on Battlefield Two. In the past few days, the United States and several major European countries have declared a series of against Russia that are without modern precedent for a major economy. These policies are triggering a financial catastrophe in Russia.
