Russia Is Experiencing An Economic Iron Curtain As Companies Like McDonald’s Cut Ties

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According to data from the Bank of Russia (Russia’s central bank), the country imported goods worth approximately $77 billion in the third quarter of 2021.

Foreign companies have brought with them a lot more technology and expertise. Russian companies are now closely integrated into global supply chains.

Just like the Soviet days, the national industry isn’t well-equipped to compete.

Miller states that Russia’s entire industrial sector will face difficult problems as it tries to find Western products alternatives.

He says that Russia has gained access to foreign consumer products and a lot more technology and expertise from Western companies. “All of that has been put into a very quick reverse.”