December 03, 2023

Occupation Is Expensive


Occupation Is Expensive
Rubles. The Russian Life files

The Bell, an independent Russian news outlet that focuses on economics, has released a study reporting that Russia's actions in Ukraine since the Maidan protests have created an economic "lost decade."

According to the report, since anti-Russian protests erupted in Kyiv in November 2013 (which would lead to Russia's annexation of Crimea, support for separatists, and eventual invasion), Russia has made policy decisions that have led to stunted economic growth.

These include a loan of R15 billion ($166 million) to the now-ousted Russia-friendly Ukrainian president, that is unlikely to be paid back; another $3 billion loan in Eurobond loans; and as much as R200 billion ($2.2 billion) in annual subsidies for occupied territories like Crimea. And this doesn't include an estimated R483 billion ($5.3 billion) annually for territories occupied since the most recent invasion began in February 2022.

And there is no indication these subsidies will end anytime soon.

Then there are the Western sanctions imposed in the wake of Russia's 2014 annexation of Crimea, followed by Russia's "counter-sanctions" – leading to a ban on Western food imports that nearly doubled food prices between 2014 and 2016, even as domestic production rose. Large Russian companies suffered as well, as they were unable to attract foreign investment, which slowed growth throughout the economy.

The combined economic effects of all of this are widespread. For instance, while other countries in Eurasia saw strong GDP growth over the period, ten years of slow growth in Russia has created a gap between Russia and the West five times larger than it was ten years ago, on top of higher prices for consumers.

The end result? Sluggish isolation for Russia.

You Might Also Like

We'll Swim After Victory
  • October 15, 2022

We'll Swim After Victory

Our correspondent was offered a business trip to Odesa, Ukraine. He took it and brought this back.
Trekking In Partisan Footsteps
  • May 01, 2011

Trekking In Partisan Footsteps

Eastern Crimea was a center for partisan activity during the Great Patriotic War. In honor of the May Day holiday, we trek through this wild realm along the Black Sea.
600 Days of War
  • October 16, 2023

600 Days of War

Russia's War on Ukraine has been going on for 600 days. Some Facts & Figures.
A Wall of Resistance
  • February 27, 2023

A Wall of Resistance

A Russian shopkeeper's picture went viral after using the walls of his shop to express opposition to the invasion of Ukraine.
Like this post? Get a weekly email digest + member-only deals

Some of Our Books

Moscow and Muscovites

Moscow and Muscovites

Vladimir Gilyarovsky's classic portrait of the Russian capital is one of Russians’ most beloved books. Yet it has never before been translated into English. Until now! It is a spectactular verbal pastiche: conversation, from gutter gibberish to the drawing room; oratory, from illiterates to aristocrats; prose, from boilerplate to Tolstoy; poetry, from earthy humor to Pushkin. 
Murder at the Dacha

Murder at the Dacha

Senior Lieutenant Pavel Matyushkin has a problem. Several, actually. Not the least of them is the fact that a powerful Soviet boss has been murdered, and Matyushkin's surly commander has given him an unreasonably short time frame to close the case.
Stargorod: A Novel in Many Voices

Stargorod: A Novel in Many Voices

Stargorod is a mid-sized provincial city that exists only in Russian metaphorical space. It has its roots in Gogol, and Ilf and Petrov, and is a place far from Moscow, but close to Russian hearts. It is a place of mystery and normality, of provincial innocence and Black Earth wisdom. Strange, inexplicable things happen in Stargorod. So do good things. And bad things. A lot like life everywhere, one might say. Only with a heavy dose of vodka, longing and mystery.
Life Stories: Original Fiction By Russian Authors

Life Stories: Original Fiction By Russian Authors

The Life Stories collection is a nice introduction to contemporary Russian fiction: many of the 19 authors featured here have won major Russian literary prizes and/or become bestsellers. These are life-affirming stories of love, family, hope, rebirth, mystery and imagination, masterfully translated by some of the best Russian-English translators working today. The selections reassert the power of Russian literature to affect readers of all cultures in profound and lasting ways. Best of all, 100% of the profits from the sale of this book are going to benefit Russian hospice—not-for-profit care for fellow human beings who are nearing the end of their own life stories.
The Moscow Eccentric

The Moscow Eccentric

Advance reviewers are calling this new translation "a coup" and "a remarkable achievement." This rediscovered gem of a novel by one of Russia's finest writers explores some of the thorniest issues of the early twentieth century.
Bears in the Caviar

Bears in the Caviar

Bears in the Caviar is a hilarious and insightful memoir by a diplomat who was “present at the creation” of US-Soviet relations. Charles Thayer headed off to Russia in 1933, calculating that if he could just learn Russian and be on the spot when the US and USSR established relations, he could make himself indispensable and start a career in the foreign service. Remarkably, he pulled it of.
Fearful Majesty

Fearful Majesty

This acclaimed biography of one of Russia’s most important and tyrannical rulers is not only a rich, readable biography, it is also surprisingly timely, revealing how many of the issues Russia faces today have their roots in Ivan’s reign.
Russian Rules

Russian Rules

From the shores of the White Sea to Moscow and the Northern Caucasus, Russian Rules is a high-speed thriller based on actual events, terrifying possibilities, and some really stupid decisions.
The Frogs Who Begged for a Tsar

The Frogs Who Begged for a Tsar

The fables of Ivan Krylov are rich fonts of Russian cultural wisdom and experience – reading and understanding them is vital to grasping the Russian worldview. This new edition of 62 of Krylov’s tales presents them side-by-side in English and Russian. The wonderfully lyrical translations by Lydia Razran Stone are accompanied by original, whimsical color illustrations by Katya Korobkina.
Woe From Wit (bilingual)

Woe From Wit (bilingual)

One of the most famous works of Russian literature, the four-act comedy in verse Woe from Wit skewers staid, nineteenth century Russian society, and it positively teems with “winged phrases” that are essential colloquialisms for students of Russian and Russian culture.

About Us

Russian Life is a publication of a 30-year-young, award-winning publishing house that creates a bimonthly magazine, books, maps, and other products for Russophiles the world over.

Latest Posts

Our Contacts

Russian Life
73 Main Street, Suite 402
Montpelier VT 05602

802-223-4955