Russia is mobilizing its economy and industries to fuel the war in Ukraine: Report

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Russian President Vladimir Putin is likely mobilizing his country’s economy and industry to support the ongoing war in Ukraine, the Institute for the Study of War has reported. In its latest report, the institute claimed that the Kremlin had proposed special amendments to the country’s law to fuel its war machine. The report came days after Ukraine’s administration branded Russia a “terrorist state” accusing it of deliberately killing innocent civilians.

“The Kremlin proposed to the State Duma on June 30 an amendment to the federal laws on issues of procurement of the Russian armed forces, which would introduce “special measures in the economic sphere” obliging Russian companies (regardless of their ownership ) to provide Russian special military and anti-terrorist services. operations, says the Institute in a statement,ent.

New amendments could modify the contract of employees

Elaborating on the proposed constitutional change, the institute said it would ban Russian companies from refusing to accept state orders for special military operations. In addition, it would also allow the Kremlin to modify employee contracts and working conditions, such as requiring workers to work at night or on federal holidays.

It is pertinent to note that Putin is pulling out all the stops to seize the industrial region of Donbass as the war drags on into its fifth month.

As the Russian Federation diverts funds to support the war in Ukraine, the economic repercussions of the conflict are also being seen in Europe. Triggered by coronavirus shutdowns and soaring fuel prices amid war in Ukraine, eurozone inflation hit a record high last month. In its latest report, EU statistics agency EuroStats said prices for goods and services rose by 8.6% in June. The inflation rate was higher than the 8.1% surge in May, which was itself the biggest rise since 1997 (two years after the launch of the euro).

The prices of consumer goods were particularly affected. According to the agency, the cost of food, alcohol and tobacco rose by almost 9% at an annual rate last month. Prices for non-energy industrial goods posted an inflation rate of 4.3%, 0.1% higher than in May. However, offering consumers some respite, prices for services fell slightly, from 3.5% in May to 3.4% in June.

(Picture: AP)

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