Russia's economy can not survive sanctions, in May the world may recognize the country’s default -
NSDCRussia failed to pay its foreign currency debts on April 4. Were it not for the sanctions, Russia could still find foreign currency to settle with creditors within a month.
For this reason, on May 4, the world may recognize Russia's default. The next step may be to collect debt from the state, which will also have detrimental consequences.
According to analysts,
a prolonged war with Ukraine could cost Russia more than $20 billion a day. These are direct and indirect costs, including a reduction in manufacturing volume due to sanctions, which in turn would lead to unemployment.
More than 400 global companies have boycotted Russia and left its market. As a result, the country is experiencing a shortage of goods, increase of prices, and layoffs.
