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

Life Stories
September 01, 2009

Life Stories

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.

Little Golden Calf
February 01, 2010

Little Golden Calf

Our edition of The Little Golden Calf, one of the greatest Russian satires ever, is the first new translation of this classic novel in nearly fifty years. It is also the first unabridged, uncensored English translation ever, and is 100% true to the original 1931 serial publication in the Russian journal 30 Dnei. Anne O. Fisher’s translation is copiously annotated, and includes an introduction by Alexandra Ilf, the daughter of one of the book’s two co-authors.

The Little Humpbacked Horse
November 03, 2014

The Little Humpbacked Horse

A beloved Russian classic about a resourceful Russian peasant, Vanya, and his miracle-working horse, who together undergo various trials, exploits and adventures at the whim of a laughable tsar, told in rich, narrative poetry.

At the Circus
January 01, 2013

At the Circus

This wonderful novella by Alexander Kuprin tells the story of the wrestler Arbuzov and his battle against a renowned American wrestler. Rich in detail and characterization, At the Circus brims with excitement and life. You can smell the sawdust in the big top, see the vivid and colorful characters, sense the tension build as Arbuzov readies to face off against the American.

Murder at the Dacha
July 01, 2013

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.

Russian Rules
November 16, 2011

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 Moscow Eccentric
December 01, 2016

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.

Driving Down Russia's Spine
June 01, 2016

Driving Down Russia's Spine

The story of the epic Spine of Russia trip, intertwining fascinating subject profiles with digressions into historical and cultural themes relevant to understanding modern Russia. 

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