Gary   Wolfstone
 
T h e    R u s s i a n    E c o n o m y
 

 
THE HARVARD GAZETTE
By Alvin Powell
Harvard Staff Writer
DATE
March 10, 2022

The Russia-Ukraine conflict has led to an unprecedented experiment in unplugging one of the world’s biggest nations from the global economy, a development that will have broad consequences for the foreseeable future, an expert said Wednesday. “We’ve never seen anything like it,” said Alexandra Vacroux, executive director of Harvard’s Davis Center for Russian and Eurasian Studies, in a panel discussion at Tsai Auditorium. “Russia is the 11th-largest economy in the world. The other countries that have been sanctioned like this — and no one has been sanctioned to this extent — have been tiny compared to Russia.” Vacroux said that Russia could see a Great Depression-level decline in gross domestic product. Globally, effects will include disruptions not just to energy and stock markets, but to food supply and agriculture because Russia and Ukraine are major wheat and fertilizer exporters. Vacroux said removing Russian banks from the SWIFT financial communication system was thought to be the “nuclear option” because the system handles transfer requests and payment instructions across the international banking system. But then Western nations went further and sanctioned the Russian central bank itself, cutting the nation off from international accounts that held roughly half the reserves President Vladimir Putin had built up for a crisis. The sanctions mean that Russians had no way to pay for imports of everything from auto parts to aircraft avionics to computer parts and consumer goods. Corporate action has been another economic blow, as some 200 companies — including McDonald’s and Starbucks — have announced they were suspending or cutting ties with Russia. Russia’s stock market has been closed for more than a week and the ruble’s value has fallen 40 percent. The country has avoided a run on banks because the central bank had plenty of reserves on hand, ensuring that citizens have been able to withdraw cash. A key date looms, however, as a payment on Russia’s sovereign debt is due Wednesday and default appears a possibility. The U.S. has ended purchases of Russia oil, a step that is likely to drive energy prices up, but European dependence means Russian oil and gas have continued to flow despite sanctions. On March 3, for example, Russia received a $720 million payment from Europe. While the sanctions may serve to punish Russia for its invasion of Ukraine, Vacroux said she doubts they will act as a deterrent because Russians don’t believe that the sanctions will be lifted if they change course. Mariana Budjeryn, a research associate at Harvard Kennedy School’s Project on Managing the Atom, noted that Putin has been quick to issue nuclear threats. That warning has had an effect, making the U.S. and European nations reluctant to take steps that might put them in direct conflict with Russia, such as implementing a no-fly zone or sending major weapons systems, like fighter jets, to Ukraine. Oxana Shevel, an associate professor of political science at Tufts University and a Harvard Ukrainian Research Institute associate, said she believes Putin’s goal is eliminating Ukraine as a sovereign state, and that his actions are helping forge the Ukraine he hoped to avoid. Ordinary Ukrainians’ sense that this fight is an existential one has spurred them on against steep odds, she noted, sustaining an underdog story that has inspired people around the world. “People are determined to fight and die because they don’t want to live as slaves, it is as simple as that,” Shevel said. “Putin is nation-building in Ukraine like no nationalist ever could. He is bringing his own fears to reality.” Gary Wolfstone Gary Face Policy Limits Many Thanks, clients and friends Consulting Officer Tulips Gary & Jackie Begin-next pc-lawyer book Bench Waterfront statue Gary-Keskus Default Eagle NEW DEFAULT DILIGENCE JOHN HARVARD STATUE GIRLS SO SILLY Gary Alki Gary with Santa Doll Holiday Home-Red-Logo Scroll_Testify 2020-900 Home-Sydam-Home Just-Us-733 Home-SUV3-Home Fees on Referral More Fees on Referral Repeat Business Laid Off Tech Samoin Again Kulta Louise, Chuck, Gary Louise, Charles, Gary Big Van, Gary, Alice Van, Gary, Chuck Ron and Alice, Iowa, Wedding Honor Alycia was May Day Queen Homeless Bogart Admissability-Opinions Hortensia Honor 1 - Sabbatical Leave 2 - Life in Fast Lane Bridge 3 - Selena's Devoted Fan Cat Alley Condo, Seattle Suzy loon Bear Face Jeff Burns at Work Beach Hse Painting 3 Beach Hse Painting 2 Beach Hse Painting 1 Ships Colliding Gary and Kulta Submit Your Resume Gary Only Smiling Blue Angels Gary Ask for More Old Kulta Red Tulips Protest Moving-Be Safe-Be Well Jeff Burns at Work Beach Hse Painting 3 Beach Hse Painting 2 Beach Hse Painting 1 Ships Colliding Gary and Kulta Submit Your Resume Gary Only Smiling Blue Angels Gary Ask for More Old Kulta Red Tulips Protest Flag, Gavel, Home Remember WTCr Small mars rover snow new SR71 Country Codes Telephonic 1991 Rainbow Charters 1991 Pot Shed, Rainbow Charters Thanksgiving Htm Home Mountain More Kinder Yet More Kinder Alot of Kinder Kinder5 Himself More Kinder Yet More Kinder Alot of Kinder Kinder5 Keesler AFB 2 Kinder Just Us Justice s y d a m Resume - A Summary Wallingford House 3932 Water Fall 3 Water Fall 2 Remember World Trade Center Water Fall 2 Remember World Trade Center X Y Z PARDON Yonder Bear Wrongful Death Bear with Swedish Flag Theatrical with kids Downtown Park Tulips Bio_liberty Areas Bridge Default xPeak Winter Wolfstone-again Menu with GLW Photo Gary Wolfstone Ethics Adjuster Eclipse You City Hall KerryPark Gary Kulta Welcome (2014) 2024 Scroll Testify Scroll Repeat Talvi Eight NEW TESTIFY transom Cat-Mouse-Game Jenna large scroll 2 scroll Jenna narrow We Watch Over Our Clients One of A Kind weekend Whitman-1969-Memories 2025 Sign default wet sand default wonderful Cease fire Got You Covered White Rose Wolfstone-new default blue pc-lawyer Satisfied Customers Wolfstone Cares Deeply About Ethics Ethical Lawyer Running Zebra Menu Menu of Other Stations Various Positions St. Patrick's Day Diversity Fubar Commit No Fusion ZigZag Judge Wake.html monica.html xyz.html 50.html 60.html tiger.html resume-2.html greencard.html January2024 Feb2024 March2024 Agents Literary Yonder Bear Home-Page 50 Year Letter xmas 2003 Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Seattle personal injury lawyer-repeatr Seattle injury lawyer Life Fast Lane Menu of Other Stations Various Positions St. Patrick's Day Diversity Fubar Commit No Fusion ZigZag Judge Wake.html monica.html xyz.html 50.html 60.html tiger.html resume-2.html greencard.html January2024 Feb2024 March2024 Agents Literary Yonder Bear Home-Page 50 Year Letter xmas 2003 Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Seattle personal injury lawyer-repeatr Seattle injury lawyer Life Fast Lane Road Kill Alakoske Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Seattle View Post Surgery Define IS Kulta More ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Seattle View Post Surgery Agents Literary Tower Post Surgery Agents Literary Tower Default Ships More Moon Shine Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Patriot Seattle View Post Surgery Agents Literary Tower Home-Page Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Seattle personal injury lawyer-repeatr Seattle injury lawyer Profile Avvowatch Profile Britton's Blood Libel Pot Shed, Rainbow Charters ABAB Broken Arrow Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Alycia & Daisy at Shilshoe Mark Extra Mark Legacy Road Kill ABAB Broken Arrow Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Road Kill ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Seattle View Post Surgery Agents Literary Tower Road Kill ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page world800class ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Patriot Seattle View Post Surgery Agents Literary Tower Home-Page Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Seattle personal injury lawyer-repeatr Seattle injury lawyer Profile Avvowatch Profile Britton's Blood Libel Tiger ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Seattle View Post Surgery Define IS ABAB Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Glory Top Hat One Glory Top Hat Two Glory Top Hat Three Glory Original Blond One Glory Original Blond Two Glory Original Blond Three Lightning-to-Mark-Britton Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Seattle View Post Surgery Agents Literary Tower Post Surgery Agents Literary Tower Default Ships More Moon Shine Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Red Patriot Seattle View Post Surgery Agents Literary Tower Home-Page Agents Literary Tower Default Ships More Moon Shine More Moon Shine Seattle personal injury lawyer Seattle injury lawyer Seattle personal injury lawyer-repeatr Seattle injury lawyer Profile Avvowatch Profile Britton's Blood Libel Keesler Broken Arrow Bio-old Blow Kiss Making Rules Moonshine Mtn Shadows US Flag Wonderful Life Waterfall Ships ISMAP Flag and Gavel Think Incorporation Panda3 Panda2 The Deposition Natasha More Natasha Lorena First Blog Black Box Black Box 3 Black Box 5 Folklife Gary to Mark Gary Office Big Winter Helsinki-December-scene Mark Britton Editorial Mark Britton Libel US Supreme Court Docket Meet Mr. Britton Index Salmon Laid Off Tech Rosie zebra2 Titanic zebra_2 Home-Page Alycia & Daisy at Shilshoe Mark Extra Mark Legacy Gary Wolfstone Seattle trial lawyer Seattle personal injury lawyer

Gary Wolfstone
Seattle trial lawyer
Seattle personal injury lawyer