Economist: The Kremlin Faces Global Financial Isolation

Russia has no economic future.

Russia is heading towards total financial isolation. This opinion was expressed today, December 6, on the air of the FREEДОМ TV channel by economist Ilya Neskhodovsky.

He commented on the information about the closure of the only subsidiary in Africa by the Russian state bank VTB due to the fact that the bank was disconnected from the SWIFT system.

“This means that a specific area of financial transactions will be limited. We remember that in mid-2022, sanctions were imposed against Sberbank in the European Union. It also had to close its subsidiaries, its branches. And I would like to point out that this is already the next wave. This is no longer the closure of branches in those countries that are economically developed. You are already closing those areas that you wanted to rely on as an alternative to trade with developed countries,” the economist emphasized.

Neskhodovsky recalled that previously Russia had limited various settlements with China, and branches of Russian banks are closing in countries such as Kazakhstan, Uzbekistan, and Turkmenistan.

“In other words, today Russia is facing global financial isolation. Even if you somehow manage to offer your goods, because, indeed, your goods are primitive — they are raw materials, and the world needs raw materials. The question remains open, and how will you get money from there? If Western banks do not want to work with you, and your own banks are simply not there, that is, you will not make these expenses. Therefore, this is another such call that Russia is heading for complete, total financial isolation, and, accordingly, no matter how they draw their GDP indicators, Russia simply has no economic future. No one in the world will buy your goods,” he said.

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