link : Has The War Destroyed Russia's Business Model?
Has The War Destroyed Russia's Business Model?
Even Russia's Druzhba oil pipeline highlights the 'friendship' between Moscow and Europe. Image: Patrick Pleul/dpa-Zentralbild/dpa/picture alliance
DW:
As a result of the war in Ukraine, Russia has lost Europe — its largest foreign investor and main buyer of its energy exports. DW unpacks how Moscow's economic fortunes unraveled in 2022.
Russia's state-owned energy giants Gazprom and Rosneft had a very promising start to 2022. German Chancellor Olaf Scholz's new coalition government announced several new gas-fired power plants to offset the phaseout of nuclear and coal-powered plants. The two largest contributors to the Russian state budget were set to benefit.
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WNU Editor: Business is no longer usual between Europe and the Russia, and it will not be for the next decade or two. What we are now seeing is a massive global economic realignment, where the world's resource superpower is now shifting its focus away from Europe to Asia.
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