Mayor says Moscow will lose 200,000 jobs as Russian economy slows

The city’s mayor said, on Tuesday, that Moscow is preparing to lose 200,000 jobs as the Russian economy recovers in the face of Western sanctions over Russian President Vladimir Putin’s invasion of Ukraine.

The potential job loss comes as Putin tries to play down the impact of sanctions, Indicating on Monday That “NATO’s economic blitzkrieg strategy did not work. Moreover, the initiators themselves could not escape sanctions.”

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Sanctions on the Russian economy have only increased in recent weeks amid revelations of alleged war crimes committed by the Russian military in Ukraine.

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Despite Putin’s confidence, Moscow Mayor Sergei Sobyanin sounded the alarm for the Russian capital on Tuesday.

“According to our estimates, about 200,000 people are at risk of losing their jobs,” Sobyanin wrote in a newspaper. Official blog postaccording to a translation from interested in trade.

President Joe Biden and other NATO leaders have cited evidence of the weakness of the Russian economy since the sanctions began. The Russian ruble had lost nearly half of its value by the second week of March, less than a month after the Russian invasion.

however, some western experts He says the sanctions campaign does not have the desired effect on the Russian economy despite its weak state of the economy.

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“We raised oil prices with half-measures that didn’t achieve our goals,” Rich Goldberg, a member of the Vandenberg Alliance’s advisory board and a member of the White House National Security Council, told Fox News Digital in March. “Penalties must be tailored to the appropriate situation in order to have the desired effect, and achieve a certain result. Not all penalties are the same. Not all penalties are equal, and not all cases deserve the same type of response to penalties.”