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After several setbacks, Putin admits that there are weaknesses in the navy. However, he stresses that measures to improve it have already been initiated.
Moscow – The Russian President Wladimir Putin has admitted that the Russian marine vulnerable. The Russian autocrat made this assessment after it reportedly lost a third of its Black Sea fleet during the war in Ukraine. Putin stated that Russia is planning a “comprehensive modernization” of its naval forces, Putin told the Russian news agency CupMoscow is trying to quickly rebuild a fleet that played a key role in the ongoing invasion of Ukraine.
“In order to increase the combat power of the naval forces, it is necessary to strengthen them and pay special attention to the rapid introduction of systems for remote detection of threats, including those of unmanned aerial vehicles,” Putin said..
Putin calls for modernization of fleet after heavy losses in Ukraine war
The Russian President demanded: “It is necessary to protect our fleet from possible attacks on naval bases and areas of operation of our ships even in the most remote areas.” The fleet’s reconnaissance aircraft and the forces and means for electronic reconnaissance and electronic warfare must be expanded.
Putin plans to “comprehensively modernize the Navy, including its ship, aircraft and coastal components, as well as the infrastructure of bases, to strengthen its positions in the strategically crucial areas of the world’s oceans and dramatically improve its combat potential.” He claimed that more than 40 ships and boats would be handed over to the Navy in 2024, compared to the 24 ships in 2023 and 33 in 2024, as Newsweek reported.
One of the challenges Moscow has faced throughout the conflict is financing Putin’s war machine despite a wave of international sanctions. In early June, the US and its allies announced a new round of sanctions targeting Russian financial institutions and individuals associated with them.
Victory or defeat: Russia is probably on the brink of economic collapse
Due to the strong impact of the war Putin would find it difficult to influence the Russian economyto stabilize the country’s economic situation in the event of both defeat and victory over Ukraine. This is what economist Renaud Foucart from the University of Lancaster says.
According to the Russian government, Russian GDP rose by 5.5 percent year-on-year in the third quarter of 2023, as Business Insider reported. Foucart said the country’s enormous military spending is responsible for most of this growth. A record 36.6 trillion rubles (about 370 billion euros) will be spent on defense this year, according to the Kremlin.
Foucart explains in an article for The Conversationhow different factors such as military pay, ammunition, tanks, aircraft and compensation for fallen or wounded soldiers contribute to Russia’s GDP. Foucart put it simply: “The war against Ukraine is now the main engine of Russian economic growth.”
Russia’s economic losses increase in the Ukraine war
Other sectors of Russia’s economy are suffering from the ongoing war. Moscow has a significant shortage of skilled workers as young professionals leave the country or are drawn into the conflict. It is estimated that the country is currently short of about five million workers. This is leading to a rise in wages.
Inflation is 7.4 percent – almost double the central bank’s target of four percent. Direct investment in the country has meanwhile fallen. According to figures from the Russian central bank, it fell by 8.7 billion US dollars – about 8.1 billion euros – in the first three quarters of 2023. All this puts the Kremlin in a difficult position – no matter how the War in Ukraine developed.
Even with a victory in the Ukraine war – Russia cannot stabilize itself
Foucart claims that even if Russia wins the war, it cannot afford to rebuild and secure Ukraine. The country would remain isolated from the rest of the world market because the financial costs are too high. Western countries have cut off trade with Russia and imposed sanctions on the country since Ukraine invaded in 2022. Economists say this could significantly disrupt Russia’s long-term economic growth. Foucart says Russia’s best hope is to “become totally dependent” on China, one of its few remaining strategic allies, as long as the country remains isolated.
He added that the cost of rebuilding Russia was now “enormous.” He also pointed to difficulties such as a destroyed infrastructure and social unrest in Russia. Foucart wrote: “For Russia, a protracted stalemate may be the only solution to avoid a complete economic collapse.”
It remains to be seen whether further naval armament will exacerbate Russia’s economic problems or even contribute to the country’s economy collapsing further.
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