News » Politics 1 August, 2017, 16:38
Putin no longer rain-maker for Russia’s tycoons

If Pres Trump signs the new bill on sanctions on Russia, the economic impact on the Putin regime will be significant, Russia-based economist Stepan Demura told ZIK Aug. 1.

The new sanctions will cut the Russian economy from credits and transfers of technology, he said.

The ruble will be hit heavily, and no one will be able to invest in the Russian securities, Demura said, predicting the Russian currency downfall.

Russia will have problems with oil/gas extraction as about 80% of servicing depends on western technologies, the expert said.

Under the bill, US special services and financial monitoring are to provide reports to the Congress and president on the sources and amount of wealth by the Putin clan and businessmen.

This turns Putin from the rain-maker for his corrupt entourage he used to be into a leper, Demura stressed.

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2020-04-10 09:26 :40