Trump's trade policies backfire, intensifying Russia's economic woes
Donald Trump's trade policy is causing Russia significant economic problems instead of aiding it. The decline in oil prices and the ruble depreciation threaten Russia's financial stability. The Kremlin attempts to minimize these effects, but the situation remains challenging.
The trade policy of U.S. President Donald Trump, initially seen as an opportunity for Russia, is now bringing unexpected economic troubles, reports "The Moscow Times".
The decline in Brent crude oil prices to $63 per barrel and Urals, Russia's key export blend, dropping to nearly $50 per barrel, could seriously harm the Russian economy.
The Russian newspaper "RBK Daily" warns that this situation could lead to serious issues for Russia's GDP and state budget.
According to "The Moscow Times," Trump's trade war with the entire world is a harsh and unintended punishment for Moscow.
It should be noted that although the new American tariffs apply to almost every country worldwide, Russia was not on the list. The White House claimed that the sanctions have effectively reduced trade between the U.S. and Russia to nearly "zero".
The Kremlin concerned
The Kremlin, worried about the drop in oil prices, is trying to counteract the economic impacts, but the situation is difficult. Russia, whose budget heavily relies on oil and gas revenue, faces a significant challenge.
With falling oil prices and ongoing sanctions, Russia is experiencing increasing economic isolation.
