FT News Briefing Russian banks hobbled by sanctions
Mar 14, 2022
Moscow has reportedly sought military support from Beijing for its Ukraine invasion, raising tensions. Meanwhile, Turkish drones are proving to be game-changers for Ukraine, as Ankara balances diplomatic ties with both sides. Russia's economy is facing dire consequences from sanctions, with banks pivoting towards survival amid collapsing currency and looming debt payments. The podcast delves into the impact these financial strains might have on Putin's strategies, signaling tough times ahead for both the Russian populace and its banking sector.
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Russia's Invasion Blunders
- Russia's initial invasion of Ukraine was marked by significant missteps.
- These included poor planning, weak intelligence, and substantial casualties, including the loss of numerous tanks and armored vehicles.
Ukraine's Use of Drones
- Ukrainian forces effectively used Turkish-made Bayraktar TB2 drones against Russian forces.
- These drones, celebrated in Ukrainian pop culture, disrupted Russian supply lines and slowed their advance.
Turkey's Diplomatic Tightrope
- Ukraine's use of Turkish drones creates a diplomatic challenge for Turkey.
- Turkey must balance its relationships with Ukraine and NATO against its desire to avoid antagonizing Russia.