Swedish Finance Minister revealed how the Swedish Government is analyzing the real impact of the war on the Russian economy.
It is a frequent topic in many countries since the war in Ukraine began: the Russia’s economy.
From the first months, Vladimir Putin ensured that his country would escape hundreds of sanctions from the rest of the world. He even suggested that internal companies would thank him and improve their numbers.
And it’s not just internal companies operating in Russia, in practice: there are large ones contributing to Kremlin taxes and Russian stores continue to sell various products, for example.
But external data, and even local reports, show that Russia’s economy is: inflation puts essential goods such as milk, potatoes and butter at record prices, while the real estate market is experiencing greater difficulties due to rising mortgage interest rates.
A few days ago, the UK Ministry of Defense highlighted that very high inflation is indeed the biggest problem in the Russian figures, while the ruble (currency) depreciates, lacks labor and much of the Government’s funds are going to war.
With contradictory data, and without trusting the numbers coming from the Kremlin, the Swedish government began analyzing Russia’s economy through other means.
One of them is to look at images… from NASA.
Swedish Finance Minister Elisabeth Svantesson revealed that her ministry has started looking at satellite photos showing Moscow at night.
They verified that in 2021 the Russian capital was brighter, more illuminated, than in 2023. Which indicates that the city and the country are in trouble: either in savings, or with a , or with more closed spaces.
The went to check public images of Moscow. Both through NASA satellites.
March 2021:
November 2023:
Of course, it is difficult to make a 100% reliable comparison. But one notices darkest city in 2023.
Therefore, “it is very clear that the Russian economy is not as strong as Putin wants us to believe”, assures the Swedish minister.
With so many people leaving Russia, spending less electricity ea economy also gives waycontinued the minister.
Elisabeth Svantesson also focused on inflation: according to Russia, it is 9.5% – but Sweden remembers that interest rates will be around 21%.
“We don’t know the real state of Russia’s economy. But we know that Putin’s narrative and truth are not real”, added the Swedish Finance Minister.