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Economic Impact of EU Sanctions on Russia: A Perspective from Karlovy Vary in the Czech Republic

I gained a different perspective on the effects of the war in Ukraine during my vacation in the west of the Czech Republic: In Karlovy Vary, the sanctions that the EU has imposed on Russia are causing vacancies. This was evident in the Sberbank building in the picturesque old town of the spa town. Dirty windows and cleared out offices testify to the effectiveness of the sanctions.

The numerous advertising boards in front of restaurants and cafés, which obviously date back to pre-war times, also caught my attention, as they say in Czech, sometimes English and rarely German and Russian what is offered to the guest.

In addition, real estate agents apparently had their eye on the wealthy visitors from Putin’s empire, as a number of posters and banners on lavishly restored magnificent buildings from the Austro-Hungarian period are aimed exclusively at small oligarchs. The fact that the recipients are missing is also clear from the pitiful employees who remain alone in the numerous luxury boutiques.

I wonder how long the shop owners want and can endure this. Is there a risk of sadness? Is it possible without Valentino and Sachertorte for nine euros a piece? It is to be hoped that Karlovy Vary’s old town image will be preserved without the ruble rolling.

2023-11-03 23:18:48
#money #small #oligarchs #missing

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