Russia’s military-industrial complex has grown by 30-40% over the past two years – Kommersant
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The European Commission has published updated data on the impact of EU sanctions on the Russian economy. According to the EC release (.pdf), in 2023 Russia saw an increase of 30–40% compared to 2021 in industries related to the military-industrial complex. In particular, we are talking about the production of transport equipment, electronic and optical devices.
The EC release notes that the growth of the Russian economy is primarily due to the growth of military spending, which accounts for 6% of GDP (10.8 trillion rubles). “Russia has turned into a war economy. Inflation remains above the 7.4% target in January 2024 due to high government spending, strong wage growth in a contracting labor market and a currency depreciation of more than 20% against the dollar in 2023. commissions.
Earlier, the Council of the European Union approved the 13th package of sanctions against Russia. Subject to restrictions hit 194 individuals and legal entities. In particular, sanctions were imposed on enterprises of the military-industrial complex involved in the production and transit of weapons. Since the beginning of 2022, more than 2 thousand individuals and legal entities have been subject to EU sanctions.
Read more about the new package of sanctions in the Kommersant article. “Europe is adjusting sanctions”.
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