Posted on

Russia’s Economy Is Threatened by War and Sanctions

Share

KALUGA, Russia— Valery Volodin, a welder at a sprawling Volkswagen plant in western Russia, relaxed for most of the summer at his dacha, or weekend house, planting his garden and looking after his children. Mr. Volodin, 41, had little choice: The car factory closed down in March, joining more than 1,000 multinational companies that had curtailed operations in Russia because of its invasion of Ukraine.Since then, he has been sitting at home while Volkswagen looks for a buyer. He goes into the plant, in Kaluga’s industrial zone, once a month to collect 50,000 rubles, about $800, a payment required by Russian labor law that is the equivalent of two-thirds of his previous salary.“We go into work, but the plant stands empty,” Mr. Volodin said in an interview. He does not mind a temporary break from the physically demanding work, but he is not sure how t …

Read More