04.18.2022 14:06 (Akt. 04.18.2022 14:06)
According to Mayor Sergei Sobyanin, tens of thousands of Muscovites are at risk of unemployment because of Western sanctions against Russia. “According to our estimates, around 200,000 people are at risk of losing their jobs,” Sobyanin said on his website on Monday. To cushion the consequences of unemployment, the authorities last week approved an aid program equivalent to 38 million euros.
The aid program is mainly aimed at employees of foreign companies “who have temporarily suspended their activities or decided to leave Russia”, explained Sobyanin. The program is intended to finance recycling, among other things.
Since the start of Russian military action in Ukraine on February 24, hundreds of Western companies have announced the suspension of their operations in Russia, with some announcing a complete withdrawal from the country. Experts expect the sanctions to have serious consequences for the Russian economy and predict a severe recession.