{"id":13344,"date":"2025-04-12T09:12:08","date_gmt":"2025-04-12T09:12:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/13344\/"},"modified":"2025-04-12T09:12:08","modified_gmt":"2025-04-12T09:12:08","slug":"russia-economy-meltdown-as-nation-bleeding-cash-world-news","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/13344\/","title":{"rendered":"Russia economy meltdown as nation ‘bleeding cash’ | World | News"},"content":{"rendered":"

The Russian<\/a> economy is “bleeding cash” as capital flight sees \u00a3214billion sapped out of the country. Moscow has also been impacted by a downturn in exports of oil, gas & cars to China<\/a>, says Chief of the National Bank of Ukraine<\/a> Kyrylo Shevchenko.<\/p>\n

Posting on X<\/a>, he said: “Russia<\/a>‘s bleeding cash\u2014$281B (\u00a3214bn) in capital fled since 2022! $138B (\u00a3105bn) in year one, $80B (\u00a361bn) in ’23, $63B (\u00a348bn) last year. Even China<\/a> says ‘nyet’ to oil, gas & car plants. #RussiaEconomy #CapitalFlight.” Russia<\/a>‘s economy is feeling the impact of Western sanctions imposed after Vladimir Putin<\/a> ordered the invasion of Ukraine<\/a> in February 2022. While Moscow’s economy surprised many with its resilience under sanctions, inflation and capital flight are among the key challenges facing the Kremlin.<\/p>\n

To bypass sanctions, Russian companies transferred capital out of Russia<\/a> and into third countries.<\/p>\n

Sanctions have also caused China to curb its imports from Russia<\/a>. In March, Reuters reported<\/a> that Chinese state oil companies were “shying away” from Russian oil.<\/p>\n

Beijing has also instructed local companies not to invest in Russia<\/a>‘s oil and gas sector and refused to invest in the Power of Siberia 2 project. The Moscow Times<\/a> reports that the automotive industry has also been warned not to build factories in Russia<\/a>.<\/a><\/p>\n

The export of oil to China and India fell sharply after former US President Joe Biden<\/a>‘s last round of sanctions before leaving the White House in January.<\/p>\n

Reuters also cited sources who said China’s state-run Sinopec and Zhenhua Oil paused purchases of Russian oil due to concerns over doing business with sanctioned companies.<\/p>\n

In March, Russia<\/a>‘s oil and gas sales fell 17% year-on-year. As a result, the Kremlin lost \u00a32bn in revenue, accounting for a third of its total revenue.<\/p>\n

In the first quarter of 2025, Russia<\/a> saw a huge \u00a324bn drop in its total oil and gas revenues.<\/p>\n

Russia<\/a>‘s economic downturn will also have ramifications for its war effort in Ukraine<\/a>, experts warn.<\/p>\n

The Financial Times<\/a> reports that a third of Russia<\/a>‘s total budget is derived from oil and gas sales.<\/p>\n

Kremlin spokesman Dmitry Peskov admitted earlier this week: \u201cThis indicator is very important for us in terms of budget revenues … The situation is extremely volatile, tense and emotionally charged.”<\/p>\n","protected":false},"excerpt":{"rendered":"The Russian economy is “bleeding cash” as capital flight sees \u00a3214billion sapped out of the country. Moscow has…\n","protected":false},"author":2,"featured_media":13345,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1395,1700,332,9022,2044,16,657,15,333],"class_list":{"0":"post-13344","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-china","10":"tag-economy","11":"tag-russia","12":"tag-russia-ukraine","13":"tag-russian-economy","14":"tag-uk","15":"tag-ukraine","16":"tag-united-kingdom","17":"tag-vladimir-putin"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114324226046577022","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/13344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=13344"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/13344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/13345"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=13344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=13344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=13344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}