Putin’s War On Ukraine Crushes The Long-Awaited Russian Dream

Business July 23, 2022

If we look back at Russia before Vladimir Putin, Moscow was on its way to becoming a financial hub for international trading. It was the major supplier of gas and fuel to the entire world. Similarly, Moscow was a major player in the global export market. The former president of Russia, Dmitry Medvedev, was widely outspoken about Russian development; in 2010, he hosted a conference of international leaders where he openly talked about Moscow and its progress during his administration. Likewise, the former Russian president also expressed the long-awaited Russian dream of making Moscow a financial hub for international trading.

CBC News / Former Russian president Dmitry Medvedev was proactive about Russian development and making Moscow a financial hub for international trading.

Thus, in the preceding years, Dmitry Medvedev and Russian officials took practical steps to make the Russian dream come true. Throughout these years, Russia became a hot spot for investors. Giant companies and firms like Deloitte, PWC, City Bank, and EY centered their outlets in the country.

Putin Crushes the Long-Awaited Russian Dream

BBC News / Since holding office, Putin has been breaking international laws of peace and harmony despite many warnings from the United Nations.

While Russia was on its way to becoming a global economic power, Putin took over. Since its inception, The Putin administration has been pretty aggressive and violated international laws. One of such grave violations of international laws that Putin has initiated is the war in Ukraine. It is been 5 months now that the Russian aggression continues in Ukraine. Russian troops are ransacking Kyiv and other major cities of Ukraine. While the United Nations and world leaders have urged Putin to a ceasefire and avoid aggression in Ukraine, Putin has been seemingly nonchalant to the entire world. It seems like Putin is an autonomous power that pays no heed to international politics.

Consequently, global leaders have called off their trade with Russia. With the United States leading the initiative, countries like the U.K, Canada, Australia, and New Zealand have ceased their businesses with Russia. Thus, Putin is in a state of global isolation as a political leader of one of the most powerful countries in the world.

Al Jazeera / Due to the Russian aggression in Ukraine, world leaders have called off their operations in Russia.

In the initial stage, the Biden Administration tried all the tactics to counter Russian aggression in Ukraine. But all turned out to be futile. Thus, the United States backed up and ceased its operations in Russia. Following the United States, The United Kingdom, Canada, Australia, and New Zealand also backed off from Russia – thereby ceasing their operations in Moscow.

Putin Needs To Rethink His Strategies

Similarly, major international companies also withdrew from Moscow in the wake of the Russian war in Ukraine. McDonald’s is the latest example that stopped operating in Moscow. If nothing, all these add up to one thing: Crushing the Russian dream of becoming a financial hub. Given these grave circumstances and Russian aggression in Ukraine, it is less likely for Moscow to emerge as a financial hub for international trading. The country suffers from global isolation. No developed country is ready to do business with Russia. Likewise, they are reluctant to develop a bilateral collaboration with an aggressive leader like Putin.

If Russia wants to relive the long-awaited Russian dream, Putin must ponder over the initiatives that have made Russia an isolated country. Only then can Putin attain the Russian dream of becoming a world economic power.