By Richard Moorhead March 4, 2022 at 4:09pm
One Russian financial expert is reacting to the crushing blow of sanctions against his country’s economy with gallows humor.
Alexander Butmanov gave his assessment of economic prospects in Russia during a Thursday television segment on Russia’s RBC channel.
The economist mourned the figurative death of the Russian stock market with a drink live on air.
A snapshot of the Russian economy: an investment expert goes live on air and says his current career trajectory is to work as “Santa Claus” and then drinks to the death of the stock market. With subtitles. pic.twitter.com/XiPVTSUuks
— Peter Liakhov (@peterliakhov) March 3, 2022
“Excluding jokes, let’s do this quickly,” Butmanov said in a blunt assessment. “I send regards to Sergei Usychenko, who drank 12, 13 years ago to the death of the stock market.”
“Today, I’m drinking carbonated water,” said Butmanov. “Dear stock market, you were close to us, you were interesting, rest in peace dear comrade.”
Describing the state of the Russian economy as a worst-case scenario, Butmanov even suggested he’d return to “work as Santa Claus, as I did 25 years ago.”
A stunned RBC host stared on in disbelief before responding.
“I’m not going to comment on that stunt, because I don’t want to believe it.”
The Moscow Exchange has been closed for five days in the aftermath of Russia’s invasion of Ukraine.
The Moscow Stock Exchange will remain closed through at LEAST next Wednesday, March 9th. It has been closed since Monday Feb 28th, making it the nation’s longest shutdown. Obviously this is just postponing the inevitable 🧨
— Bianna Golodryga (@biannagolodryga) March 4, 2022
It’s thought the extended closure of the exchange is only warding off the inevitable tanking the market is expected to undergo as soon as it reopens.
Western sanctions have already devastated the Russian economy, with the value of the ruble cratering to all-time lows, according to Reuters.
More than 141 countries have voted to condemn Russia’s invasion in a United Nations resolution.
Putin found Russia as a member of the G8 and will leave her with four pariah dictators as the only allies.
The results of his foreign policy in one photo. pic.twitter.com/gIKn6Nw8yb
— Vladimir Kara-Murza (@vkaramurza) March 3, 2022
The largest economies in the western world have announced that they intend to boot “selected banks” from the Society for Worldwide Interbank Financial Telecommunication network, known as SWIFT.
Putin’s actions now jeopardize the livelihood of everyday Russian citizens, in addition to the lives of Ukrainian victims of his imperialist war.