Part 8/16:
The Western narrative of Russia teetering on the brink of economic collapse is partly accurate. Samo observed that Russia's economy was temporarily buoyed by stored reserves accumulated over decades of energy exports, particularly to Europe. However, those reserves are now depleted, and sanctions are finally biting. Spending exceeds income, and Russia’s budget deficit has soared to historic levels.
He outlined that Russia’s reliance on oil and gas revenues—particularly from Europe—has dwindled as Western countries diversify and impose secondary sanctions against major energy consumers like India. Shortages and rationing are spreading beyond the east into regions like Crimea, where shortages are visible and rationing tickets are being reintroduced.