Russian Economy is now Permanently Destroyed! Ukraine vs Russia

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The war is raging on in Ukraine.But the destruction is caused in Russia too.
The common Russians are in a bad condition.The Russian currency, Ruble, has crashed in the last few days,now, there are long lines outside the ATMs in Russia.
The Banks are out of cash to give to people.People have started hoarding phones and electronic itemsthey are buying as many as they can,because they are the only things whose value wouldn't depreciate.
The hard-earned money of the people has started losing its value.Thousands of Russians that deal with foreign countries aren't getting their salaries.
There's so much inflationpeople are worried that Russia might end up like Venezuela. 

Why is it happening in Russia?

When a country goes to war,how does it affect the economy of the country?

How are the citizens affected?




These are seldom discussed topics.This will shock you.Because you can't even imagine that in today's day and age,what a Superpower Country has to go through,when that country goes to war.Even though the war isn't fought in the country.Come, let's take a look."Sanctions from the west are already having a major impact on Russia's economy.
A 30% loss in value is seen in Ruble.Many people are worried about their income.Microsoft, Apple, Samsung, HP, Intel,all stopping new sales.
At McDonald's, final orders, it's suspending business in Russia.All western businesses are shutting down.
Everyone who can is leaving.We'll be left isolated.Netflix has pulled out.TikTok, won't allow posts by Russian users.The Ruble: worth less than a penny!"A study conducted by the Centre for Economic Recovery,claims that in the first four days Russia had toincur expenses to the amount of $7 billion for starting this war.Approximately more than ₹500 billion.
This was only for the first four days.With the continuation of the war,the same study has estimated thatt his cost can eventually cross $20 billion per day for Russia.

It means that each day Russia has to spend $20 billion to fight this war.This is only the direct expense borne by the Russian government.The Russian taxpayers' money is used for fighting this war.But this is only the tip of the iceberg.Let me list out the impact of the responses from the rest of the world.33 countries have closed off their airspace for Russian airplanes.
It means that Russian aircraft aren't allowed entry into the airspace of those countries.It includes the USA, Canada and numerous European countries.
The result?According to the estimates, about 150,000 Russian tourists in these countriesthey were there for a visit,it is now extremely difficult for them to return.Airbus and Boeing are two major companies in the world building aircraft.They've said that they would stop sending their spare parts to Russiato the Russian airlines,and would suspend their operations in Russia.
In the near future, it would be very difficult for anyone to fly into Russiaor to fly out from Russia.Moving on, the major clothing companies and shoe brands,like H&M, Puma,they have suspended their operations in Russia.BMW, Volkswagen, Mercedes, Jaguar, Toyota, and Honda,the major car companies,they have said that they would stop exporting their cars to Russia,and their operations in Russia,the car production, for example,were also stopped.Ikea, a major furniture company from Sweden,has closed down all its stores in Russia.
Airbnb, quite useful for travellers,have now stopped their operations.Netflix has made it impossible for Russians to sign up for new accounts.
They've withdrawn the option.The big tech companies,Apple and Microsoft have said thatthey would stop selling their products in Russia.Samsung, a South Korean company,Samsung has said that it wouldn't ship its products to Russia.Imagine that these major multinational companies,we use their products and services in our daily lives,for the Russians, suddenly they can't access them anymore.

The oil giants, like BP and Exxon Mobil,they had similar responses too.BP has said that it would dump the 19% stake in the Russian state-owned energy company.It shows that the foreign companiesare pulling out their investments from Russia.And the other foreign companies that were thinking about investing some money in Russia,have since dropped the idea.
These affect the economy of a country and the funds that are available to it.Apart from this, the two most powerful bodies of football,FIFA and UEFA,they have decided to suspend the Russian teamfrom all international soccer events.

Meaning that the Russian team wouldn't participate in the FIFA World Cup.Formula 1 racing,the Grand Prix was supposed to be held in Russia,it stands cancelled now.Visa and Mastercard,two of the biggest payment processing networks in the world, millions of their credit cards are used worldwide,the two companies have decided to block Russian banks.74% payment transactions in Russia,were processed through Visa and Mastercard.They wouldn't work now.
The international payment transfer companiesRemitly and Wise,the two have also suspended their Russian operations.Apple Pay, Google Pay and Samsung Pay.The Russian banks against whom sanctions have been issued,cannot use these platforms either.Making normal payments for their daily lives have become difficult for people.


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