When Russia’s grip on newly occupied areas of Ukraine tightens, it is not just politics at play but the steady encroachment of its state banks into cities like Mariupol that signals a shift in strategy. Amidst ongoing turmoil and Western sanctions, the move by Russia’s biggest state lenders, Sberbank and VTB, to establish a presence in eastern and southern Ukraine speaks volumes about Moscow’s intentions.
- Defiance in the Face of Sanctions:
- Both Sberbank and VTB are expanding their reach into the “new regions” of Ukraine, undeterred by the risk of sanctions.
- President Putin’s call for businesses to operate in these occupied areas highlights the Kremlin’s determination to solidify its control.
- Russification in Progress:
- Reports of abuses and efforts to “Russify” the captured territories raise concerns over human rights violations and erasure of Ukrainian identity.
- The setting up of banks, such as Sberbank’s new branches in Mariupol, reflects a broader strategy of economic integration.
- Repercussions of Occupation:
- While businesses like Sberbank are making inroads into Crimea and other seized territories, concerns over profitability and reputational risks persist.
- The economic landscape in occupied regions remains volatile and subject to the whims of the occupying force, resulting in a chaotic blend of old-world tactics in a modern setting.
As the situation unfolds, it is not just a mere territorial gain for Russia, but a complex web of geopolitical, economic, and humanitarian implications that define the conflict. The occupation of Ukraine’s new regions is a stark reminder of the fragile balance between power, control, and the enduring resilience of those caught in the crossfire. The world watches as the struggle for dominance plays out on the streets of Mariupol and beyond, urging for a resolution that respects the sovereignty and dignity of all involved.
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