Economic Turmoil in Russia: Oil, Inflation, and Consumer Trends

This chapter explores the pivotal role of oil in Russia's economy compared to gas, emphasizing the impact of current inflation rates and high-interest rates on living costs. It highlights the rising prices of essential food items and contrasts them with stabilized utility costs while examining consumer behavior amidst economic challenges. The discussion also sheds light on the tensions between the business sector and central banking policies, as well as the long-term implications of losing Western expertise.