I feel compelled to add: Russian economy relies heavily on technological imports. Not just the electronics in the cars that had been mentioned. Everything from machines used in production and resource exploitation, their spare parts to the control and design software, comes from countries that just told it to go sit on a ****.
? I've even seen claims their own local manufacturers got forced out or bypassed, so they don't threaten the existing power structure. ? If that's true, they can't even manufacture the **** they should have been capable of, "just because."
*And I've definitely seen claims of their import substitution schemes being either failures, scams or both, before the invasion.
Add the acute brain drain that the war and sanctions induced, and their land is utterly unexploitable without outside actors, which will do their level best to leave as little as humanly possible for the locals.
“There was an emerging middle class [in Russia] that is now going to be knocked back,” said Christopher Smart, chief global strategist and head of the Barings Investment Institute. “It’s going to be isolated. It’s going to have a currency that doesn’t really hold any value outside the country.”
Foreign policy experts also believe that Russia will default on its sovereign debt when more than $100 million in bond payments come due on Wednesday (today).
Interesting article about the economic situation of Russia and prediction for the following years.