Oil is now a delicacy: on the third year of war, Russia's economy has suffered a serious crack.
Russia's economy is facing problems after three years of war with Ukraine
According to The Telegraph, the Russian economy is facing serious issues due to the prolonged war and external sanctions.
'Cracks have started to appear,' noted expert William Jackson.
One of the signs of trouble is the extraordinarily low unemployment rate in Russia, which stood at only 2.3% in October. This is bad for a developing economy, even though it may seem like a positive indicator to the ordinary person.
Additionally, the lack of workforce leads to the inability to increase the production of goods and services in the country. This forces employers to raise salaries, which leads to inflation. The official inflation rate is 8.5%, but the real level may be much higher - from 15% to 30%.
Experts also foresee worsening conditions due to the decline in world oil prices expected next year.
Widespread reports of labor shortages also confirm the economic troubles of Russia.
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