Ukraine, the economy is already on its knees: 12.5 billion brought abroad since January (and the oligarchs flee by jet)

Homes for sale, businesses relocated and restaurants closed. Eight years of conflict in the Donbass cost Kiev something like 280 billion dollars

KIEV – Don’t cry for me, Ukraine.

The first were the Dutch from KLM, followed by all the others: from Lufthansa to Austrian, via Air France, airlines are canceling Kiev from their destinations.

Then it was the turn of the hi-tech companies, temporarily relocated to the Israeli Silicon Valley of Herzliya

Then came the turn of the embassies: the American, the English, the German, all on the run, better move to Lviv.

For a few days the black moment of luxury restaurants and clubs loved by the oligarchs: remain open, but a little less, because the rich have been safe in Europe for weeks now, replacing the sanctioned Russian Scroogers who – tweeted (and then deleted) Josep Borrell, the European Foreign Minister – for a while they will be able to shop in Milan or buy diamonds in Antwerp.

Nobody stocks in the kitchen for more than two or three days, says a starred chef, nor can you imagine what the market will be in a month: it means that we will cook for the military.

According to the Center for Economics and Business research, eight years of conflict in the Donbass cost Kiev something like 280 billion dollars. Take the Black Sea: from the port of Odessa, you can see a long line of ships in the roadstead, which for weeks have been waiting to unload non-downloadable containers, because on one side there are the docks occupied by the Ukrainian Navy, on the other there is the viewfinder of the fleet sent by Putin. Many international companies are giving up on this airportthe largest in the area, costing a fortune in storage insurance alone.

Ukraine has always been one of the major container hubs in the world, 12 percent of global traffic, and each month loses market share to the neighboring Turkish Bosphorus. All supplies are now going to the armed forces, the only ones they buy, and the investors have decided to leave Ukraine: the multinationals are leaving, the companies that in recent years profited from low labor costs are turning away.

Average wages of 500 euros and moreover devoured by inflation, the gas pipelines held hostage, the hryvnia that trudges.

We need money from the International Monetary Fund as the human body needs blood, the appeal of Kiev was long ago, but this money has already been given and the IMF now has little trust: no preconditions for the loan have been satisfied, from the reform of the corrupt justice to that of the banking system in the hands of the oligarchs. And the distrust of Ukrainian prospects, of course, grows every time Biden and Putin attack each other.

also for this reason that, in recent weeks, the Ukrainian government has tried to tone down. Having first shouted about the impending invasion, he began to downplay American alarms about the Kremlin’s maneuvers.

Zelensky, in hand the catastrophic data of the flight of investors, is also angry about the bad signal given by the move of the embassies. Too late: the international panic had already eaten the daily bread of the Ukrainians, the invasion of the pro-Russian Donbass is taking away the food.

The Moscow economy will cry for sanctions, if we cry: in Kiev, even the supplies of tears are running out.

Leave a Comment