LyrArc Article Gist
One of the Russia's goals was to form a rival economic bloc of former soviet republics. Instead the Ukraine invasion has led to disastrous results for the economies of this region which are interconnected. Research from the World Bank shows the Russian economy declining by 11% and with further economic impact upto 25%, Ukraine's economy by 45%, former soviet republics like Tajikistan, Uzbekistan, Kyrgyz Republic, by 30% because of loss of remittances and the fallout from the economic effects on Russia. Belarus would see its economy shrink by 30%, Moldova by 30%, according to the World Bank. 

The miscalculations of all sides from leadership in Russia to that of Merkel in Germany, and the invasion itself, is putting severe economic losses on this part of Europe. Many of these economies will have to take loans from the IMF and the World Bank to remain solvent. 

 

LyrArc Article Gist
Austrian chancellor Karl Nehammer meets Russian leader Putin for 90 minutes and tells him that he has "lost the war morally" and that "in war both sides are losers." As shown by the World Bank today the Russian economy could be impacted by somewhere between 11% to 25% loss for its economy, for Ukraine the loss would be 45%. For Belarus, Moldova and former soviet republics of Uzbekistan, Tajikistan, Krygyz, the loss to their economies about 30% because the region is interconnected with remittances and other trade impacted. These would be devastating economic losses. The entire region in this part of Europe would be suffering losses. Many of the countries would have to turn to the IMF or the World Bank to remain solvent. One of Russian leader Putin's goals was to build a rival economic bloc from former Soviet republics and regions. Instead the invasion has done just the opposite. The economic losses will have impoverished the whole region.   ...