Russia is on the brink of collapse due to an unstable economy, the Ukrainian war, and severe international sanctions. What would the economic COLLAPSE of a global superpower like Russia mean for the world
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Russia’s economy is like a rollercoaster, heavily reliant on energy exports, especially oil and gas. And this dependence is much like a double-edged sword. While it brings in a lot of revenue, it also makes the economy very vulnerable to fluctuations in global energy prices. Oil and gas sales make up roughly about 40% of the government’s revenue and 60% of Russia’s total exports.
Since the annexation of Crimea in 2014 and the invasion of Ukraine in 2022, Russia has faced severe international sanctions. These sanctions have targeted key sectors of the Russian economy, including finance, energy, and defence.
Sanctions, especially, have hammered Russia’s economy in unexpected ways. After Russia’s invasion of Ukraine in 2022, the West imposed some of the most severe economic punishments seen in modern history. According to BBC News, since Russia’s invasion of Ukraine in February 2022, “the US, UK and EU, along with countries including Australia, Canada and Japan, have imposed more than 16,500 sanctions on Russia.”
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