After a year of big surprises, led by Russia’s invasion of Ukraine, the global spike in inflation rates, and the collapse of cryptocurrency ventures, what kind of year will 2023 prove to be? This kind of short-run question is hard to answer because repercussions of global events can spread so quickly and unpredictably. But the last 12 months highlighted one major trend that will shape what happens next, in 2023 and beyond: the decline of Russia.
Russian aggression is nothing new. Moscow has been invading other countries since the mid-1990s and has occupied parts of Ukrainian territory since 2014.
Demand for Russian fossil fuels is way down. Before its 2022 invasion of Ukraine, Russia produced about 10.8 million barrels of oil per day, of which aroundeither as crude or refined products. The sharp decline in Russian economic activity means that more oil is available for export, but the European Union, the United States, and their allies are now buying crude from other suppliers — and the same will be true for refined products from February 2023.
Purchases by India, China, and a few others can still result in a lot of free cash flow and tax revenue for Russia. Whoever leads Russia will put much of these proceeds into building and buying weapons — including missiles with which it can hit a wide range of countries from long distance.
During the Cold War, the Soviet Union was careful not to attack Western Europe and the U.S. too directly . Instead, both sides used proxy wars and other forms of pressure. This time, however, we should expect much more direct confrontation. The Russian elite have boxed themselves into a corner, with a bizarre set of beliefs — right-wing nationalism on steroids — and long-range weapons.
opinion Does a dream
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia launches more than 80 Iranian drones at Ukraine to start 2023The Russian military launched more than 80 Iranian-made Shahed drones at Ukrainian targets since the new year commenced, Ukrainian President Volodymyr Zelensky said late Monday, and he warned that this could be a 'prolonged attack.' Ooh 3 buzzwords in one headline. Still can’t convince me it’s worth the money.
Source: dcexaminer - 🏆 6. / 94 Read more »
Source: azcentral - 🏆 585. / 51 Read more »
Source: azcentral - 🏆 585. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: latimes - 🏆 11. / 82 Read more »
Source: BTCTN - 🏆 531. / 51 Read more »