U.S. markets close in 2 hours 58 minutes
  • S&P 500

    3,946.64
    -2.08 (-0.05%)
     
  • Dow 30

    32,097.03
    -8.22 (-0.03%)
     
  • Nasdaq

    11,738.42
    -48.98 (-0.42%)
     
  • Russell 2000

    1,721.41
    +1.12 (+0.07%)
     
  • Crude Oil

    68.97
    -0.99 (-1.42%)
     
  • Gold

    1,988.90
    -7.00 (-0.35%)
     
  • Silver

    23.36
    +0.10 (+0.45%)
     
  • EUR/USD

    1.0760
    -0.0077 (-0.71%)
     
  • 10-Yr Bond

    3.3740
    -0.0320 (-0.94%)
     
  • GBP/USD

    1.2220
    -0.0069 (-0.56%)
     
  • USD/JPY

    130.7330
    -0.0560 (-0.04%)
     
  • Bitcoin USD

    27,880.90
    -630.24 (-2.21%)
     
  • CMC Crypto 200

    608.05
    -10.34 (-1.67%)
     
  • FTSE 100

    7,405.45
    -94.15 (-1.26%)
     
  • Nikkei 225

    27,385.25
    -34.36 (-0.13%)
     

Russia faces revolution and collapse within 10 years after sanctions undermined its economy, many experts tell think-tank

A head-and-shoulders shot of President Vladimir Putin in a black suit, seated at a meeting in Moscow, Russia November 17, 2022
Russian President Vladimir Putin attends a meeting with the Industrial Development Fund director Roman Petrutsa in Moscow, Russia November 17, 2022Sputnik/Gavriil Grigorov/Pool via Reuters
  • Many foreign policy experts believe Russia could become a failed state or break up by 2033, a think-tank survey found.

  • Russia's economy has been hit hard by the West's Ukraine war sanctions, such as oil export controls.

  • China will invade Taiwan within 10 years, most experts forecast in the Atlantic Council survey.

Russia is at risk of becoming a failed state or even breaking up by 2033 as the economy flounders due to the long-term impact of Western sanctions, according to a new survey conducted by the Atlantic Council.

The poll garnered the views of 167 experts on what they think the world will look like in 10 years. While 46% of respondents expect Russia to splinter by 2033, 21% see it as the most likely country to become a doomed state.

"One of the most surprising takeaways was how many respondents pointed to a potential Russian collapse over the next decade — suggesting that the Kremlin's war against Ukraine could precipitate hugely consequential upheaval in a great power with the largest nuclear-weapons arsenal on the planet," the think-tank said.

Moreover, 40% of respondents expect Russia to break up internally by 2033 because of "revolution, civil war, political disintegration."

Russia's economy has been crumbling in the face of Western sanctions imposed on the country following its invasion of Ukraine. In November, it slipped into recession eight months after Moscow launched its attack.

The nation's central bank has warned that a ban on Russian oil and a price cap on its crude announced by the European Union were "new economic shocks" that could choke activity in the coming months. The sanctions, which were imposed late last year, aim to squeeze revenues for Moscow's wartime economy.

Experts told Insider that Moscow's isolation from the West could result in a disaster for its economy. While Russia has been trying to reduce the impact of sanctions by working exclusively with "friendly" nations, experts say it is a "recipe for long-term stagnation."

Meanwhile, NATO Secretary-General Jens Stoltenberg wrote in a new op-ed for Financial Times. that Russian President Vladimir Putin's decision to launch a war against Ukraine has left the country "poorer and more isolated than for decades." 

Other gloomy geopolitical developments are expected to occur over time, according to the think-tank. That includes a potential Chinese military invasion of Taiwan within the next 10 years.

Read the original article on Business Insider