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Re: Russia's economy

By: Zimbler0 in 6TH POPE | Recommend this post (0)
Tue, 23 May 23 5:30 AM | 449 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 42803 of 60008
(This msg. is a reply to 42781 by Zimbler0)
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Russia resorts to gray-market imports to ease sanctions pain

http://www.msn.com/en-us/news/world/russia-resorts-to-gray-market-imports-to-ease-sanctions-pain/ar-AA10Nsna

Aug 18, 2022
A deeper dive into the gray market has meant that Russians continue to have access to goods like iPhones and Zara dresses even months after their Western makers left Russia. But are these parallel imports even legal?Russia has been importing goods without the consent of their Western manufacturers for months. It's part of a scheme aimed at helping the country bypass supply restrictions put in place by Western countries and companies in response to its invasion of Ukraine.

Parallel imports, or gray-market purchases, into Russia totaled $6 billion (E5.9 billion) between May and July, Denis Manturov, Russia's deputy prime minister and minister of industry and trade, told reporters this week.

Russia launched the parallel imports scheme, covering goods ranging from auto spare parts to gaming consoles, in May as imports slumped due to Western sanctions and scores of foreign companies left its shores in protest against the war in Ukraine and to avoid any potential reputational damage.
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Russia's economy
By: Zimbler0 in 6TH POPE
Mon, 22 May 23 11:02 PM 		Msg. 42781 of 60008

Russia's economy is facing a record worker shortage amid losses in Ukraine and mass exodus

http://markets.businessinsider.com/news/currencies/russian-economy-record-worker-shortage-sanction-ukraine-war-labor-exodus-2023-4?op=1

The Russian economy is struggling through a record worker shortage as the war in Ukraine adds pressure on the labor force.

According a Russian central bank survey, worker availability has fallen to a reading of -18, the lowest since data collection initially began in 1998, Kommersant reported.

The most impacted sectors are manufacturing, water supply, mining, storage and transportation. Meanwhile, car sales, wholesale and services saw the least impact.

Several factors may be contributing to the situation.

Russia's population has been shrinking for years, and its so-called gray economy has expanded to surpass other major industries.

But Russia's war on Ukraine has delivered a major shock to the workforce. The military mobilized 300,000 troops last year and plans to mobilize hundreds of thousands more this year.

And about 200,000 Russian troops have been killed or wounded while fighting in Ukraine, with some estimates putting losses at 500 troops a day.

Meanwhile, nearly a million Russians may have left the country for various reasons, whether to escape the military mobilization or flee Western sanctions that have caused economic distress within the nation, according to the Washington Post.
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