Re:A CIA hacker’s revenge
by yardie on Monday June 06, 2022 @02:43PM
(#31644123)
Sugar isn't a good indicator of much. Russia basically got their sugar from the country they just invaded. And Ukraine is just in a shitty strategic location. No one really cared about them until it became blindingly obvious they have a strategic location important to Russia. The sugar problem will resolve itself in a few months. The oil-based energy problem (where Russia holds the advantage) is going to take years to untangle.
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I agree, sugar perhaps is not a good indicator. There wasn't an actual shortage of sugar, it was a short-lived market panic. But, still, many other sectors of the Russian economy are already suffering - automakers, air travel & cargo are good examples. Some big tech companies like Cisco have entirely left the market, which is neither good for Russians nor Cisco. They already come $200M short in their quarterly. The layoffs didn't follow only because Cisco already slashed thousands of jobs last year due to the pandemic.
Yes, there will be a lot of money in hard currency from oil and gas, but without access to high-tech & parts (which not many countries would sell to Russia), it's gonna pull the entire country into stagnation.