In a blog post published on Monday, Moscow Mayor Sergey Sobyanin stated that “according to our estimations, over 200,000 people are at risk of losing their employment” in the Russian city. Following Putin’s invasion of Ukraine in February, hundreds of mostly Western corporations announced their suspension of operations or exit from Russia. Mr. Sobyanin stated that they are working on a strategy to “enhance the capital’s economic sustainability.” Namely, addressing “employees of foreign companies that have temporarily suspended their activities or decided to leave Russia.” He stated that a recently authorised initiative will assist more than 58,000 people who have lost their employment due to foreign companies. However, many experts believe that the entire impact on Russia’s economy will not be known for some time.
Putin energy hammerblow as Italy signs huge gas deal
With a new gas contract, Italy might embarrass Vladimir Putin by dethroning Russia’s energy dominance.
Prime Minister Mario Draghi has signed a deal with Algeria to strengthen energy connections in an effort to lessen Italy’s reliance on Russia.
In the last year, Rome purchased 40 percent of its natural gas from Russia, totaling 29 billion cubic metres (bcm).
If the new agreement is enforced, Algeria would surpass Russia as Italy’s top natural gas supplier.
Countries all around Europe have been looking for measures to ensure their energy security and wean themselves from Russian imports.
