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In the weeks and months ahead, Russia faces both bad news and good news. After initially reporting low infection rates within its borders, the coronavirus pandemic is quickly spreading in the country with Moscow reporting a spike in cases over the weekend. The negative economic impact of workers staying home will follow closely behind. Combined with leftover effects from the oil price war with Saudi Arabia, Russia will be facing mounting economic pressure.
The good news is that they have a recovery tool that few other countries have at their disposal. Russia has been under intense American and international economic sanctions for years, and relief from those sanctions could provide an economic boon at a critical time. Essentially it is a built-in stimulus option. And the best part is it’s free. All Russia needs to do is act like a responsible member of the international community.
The above excerpt was originally published in The National Interest. Click here to view the full article.
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