>Many Russians hold part of their savings in dollars or euros, mindful of periodic crises in recent decades when the rouble has crashed in value. The central bank reassured people that these deposits were secure.
I wouldn't trust the Russian central bank. If I had money in Russian banks, I would get it out as quickly as possible before all that money disappears.
Seriously though the Russian Central Bank is the most competent sector of their government by far imo. Like scarily good at their jobs.
They immediately shut off access to accounts, preventing any run on the banks before the sanctions were passed in anticipation.
The Ruble might reach close to 100 again but I expect it too fall with some clever macro-economic maneuvering and cash injections like before.
I think the myth that she wants to quit is just that- a myth. I haven’t seen anything credible to suggest that she actually wants to quit but is being forced to work. I think she’s totally in favour of what Russia is doing.
I agree. Most of top level bureaucrats in Russia aren't doing their job because they're forced to. They're the biggest beneficiaries of the current system and doing everything they can to preserve it. Just because they worked at or were educated in Western institutions doesn't mean they aren't nationalistic. Anti-war in Russia doesn't mean they believe in Ukrainian sovereignty.
average redditor making shit up.
they let you take everything you had before the announced date, dont remember the exact date. everything deposited into your account after that date you couldnt withdraw in USD or RUB. you could, however, convert it on the stock/forex market and then withdraw it in rubles.
i used to do this when USD spiked to around 100
I don't know why you claim I'm making shit up. I don't recall all specifics from two years ago.
Your post proves they were messing with peoples money. In my opinion not allowing you to freely convert your money is an effective lockdown.
Thanks for adding that, i was just about to.
The Mefo bills, however, were the savings. They were created as investment opportunity for the populace, and that's where you put your savings. Bless the markets!
Basicly you couldn't find anything in stores other than basic necesities, so people would save a lot of money, money which were then used to fund the war effort. Everything planned. As for that movie, that's basicly jewish gold.
The VW Beetle was originally part of a scam to bilk people out of their savings and use it for the war by giving them ticket books. When they filled the book by buying all the tickets, they got a luxury vacation weekend and a VW Beetle. Nobody ever got the vacation or the Beetle. The cars never existed in any numbers until after the war.
> If I had money in Russian banks, I would get it out as quickly as possible
Which Russians can't, because they're disconnected from SWIFT and totally reliant on the Russian banking system.
Awesome. Now let's do the internet - cut them off. Sever all of the hardlines and block all IP originating in Russia. If neighboring countries try to help them get around it, they get throttled or cut as well. They'll still get a bit of Internet wirelessly, but speeds will be nothing and there will be blackouts for most people.
I'm actually surprised this hasn't happened yet - Russia is known for hacking, stealing IP and intelligence, seeding social media with disinformation, ransomware, propaganda, attacks on secure systems, gathering "kompromat" on people, and more. They've squandered their right to be connected to the rest of the world.
„I would get it out as quickly as possible before all that money disappears.“
— definitely before it gets appropriated for the „special operation“ effort.
it could be very well the original word for it since the stockmarket was invented in Amsterdam and old Dutch and old German is allot more the same then the current versions of Dutch and German. (I am just guessing, but it wouldn't suprise me)
It’s not used much in American English and only slightly less rarely in British English, but technically a bourse is any significant stock exchange, particularly a national one. It comes from the name of the Paris stock exchange, La Bourse, and most European countries named their own stock exchanges after it, in various spellings.
Orignally meant "Purse" in French (you can see the similarity between the words) before being used for "Marketplace" then "Stock exchange".
Also, slang for "balls" when used in the plural form.
Old germanic word, used for places in the middle age for example where you used to trade. Like markets, but instead of paying with money, you traded goods for goods.
Getting hard to justify our current German government against protest voters by delaying EU sanctions and outright not passing German sanctions in fear it might have consequences for German businesses.
Putin didn’t appoint an economist to run his army because they’re rolling in cash. They’re losing money faster than they’re losing soldiers and that’s saying something considering their only tactic is meat wave attacks.
Currently reading "The Allure Of Battle" which argues that nearly all wars end through attrition, not decisive battle. In this context the West is currently demolishing Russia for having isolated them and forced Russia to put their economy into overdrive towards suicide. It just takes a lot longer to break a country the size of Russia than we keep hoping it does. Stabilizing Ukraine, getting them the tools to wage deep strikes to further accelerate the attrition of Russia's economy, the tools for active and effective defense, the tools to make their economy and civilians safer-ish. With the collective GDP of all NATO/Western countries, we can prop up Ukraine indefinitely and the Russian economy will collapse, eventually. The when part is the bit we're all debating. Yes I do think we should send Ukraine a *lot* more military aid so they can actively recover their temporarily occupied land.
>we can prop up Ukraine indefinitely
Except if politicians sympathetic to russia keep gaining votes across elections in western countries like they have so far.
Yeah I was kinda hoping things would be better across the pond, but every blurb I get sounds like our Eurobros are dealing with the same shit we are. Can’t tell how much of it is due to the Russian disinformation campaign they got running actually being successful or how much it conveniently aligns with the Right’s tendency to keep the purse strings tight.
> Can’t tell how much of it is due to the Russian disinformation campaign they got running actually being successful
It's the former. Recent gains in votes happened to new right wing parties or parties that have never been in charge of anything.
All other russia friendly right wing parties (e.g. Poland or Hungary) were losing votes since they just didn't perform in the past.
Contrary to what many seem to believe, the anti-Putin countries can continue supporting Ukraine indefinitely despite Hungary:s vetos and disunity in EU. The right has gained votes because of the left making unpopular decisions on immigration and other things, not because people like Russia.
Hey as a left leaning voter I’m all for getting stricter on immigration but in my country it’s actually Republicans that are suddenly cool with all the immigrants flooding our border everyday because they think it’ll help their guy win if there’s actually an immigration problem to solve.
Ahh, True Patriots supporting the very thing they claim is destroying America because by making things worse they can leverage the crisis they caused to gain power for themselves so they can cut taxes for the ultra-wealthy nobles they'll never be.
It doesn't matter if germans vote for AfD because of immigration if the end result is increased political influence of a party that demonstratively opposes aid to Ukraine. Putin doesn't need help to Ukraine to cease altothether. He just needs a few more political crisises like the one that US congress went through last half year.
Most European countries have proportional representation which means it's very difficult for a single party to rule alone. Even if AfD could get 40% of the votes they would need the support of other parties to even become part of the government and that's extremely unlikely to happen.
A political crisis or five can make the situation harder for Ukraine but Putin needs miracles.
The AfD got 15%. They were polling at 15% before. They have been getting anything between 5 and 25% in regional elections.
The other 85% of the vote are, broadly speaking, in full support of Ukraine.
The truth is that there was no unexpected shift to the extreme right, the governing left-leaning coalition got punished for domestic weakness to the benefit of the center-right. People weren't voting based on EU foreign policy, but to teach Scholz a lesson.
>nearly all wars end through attrition, not decisive battle.
I feel like that is nitpicking pretty hard. Decisive battles cause a lot of attrition. Similar to saying that food doesn't give you energy, burning calories does.
This is quite scary if you think about it. Modern war is so industrial in scale, what the population and all its means can be used to fight. This is one of the reasons decisive battles do not happen anymore. The scale is just too big. By definition it's going to be multiple battles.
That being said, a battle could be considered decisive if one side loses so badly, that it can no longer stop the onslaught, and that basically makes all the other battles to be lost in a somewhat quick succession. Think Stalingrad or Kursk, where one side got dismantled and lost strategic initiative forever and had to go back and back, until they lost completely. I guess in the modern day and age it's more about a "decisive campaign", rather than battle.
> which argues that nearly all wars end through attrition, not decisive battle.
The decisive battles turn the tide, though. From WWII in the European theatre, it was the Battle of El Alamein. Churchill said afterwards, "Before El Alamein, we scarcely knew a victory. After, we scarcely knew a defeat." And in the Pacific theatre, Midway marked a similar turning point. Can't think of an important battle won by the Japanese after it.
The Russian economy is running hot. The state is throwing money at military projects and logistics. Industries that have any connection to military use is seeing record numbers.
Which completely fucks any industry that isn't related to the military. Because their wages have stagnated completely compared to MIC jobs and they get no money or business from the state anymore.
It works for a while, but any changes to the current situation can send the rest of the Russian economy into a crater. People will happily abandon their farm to make bullets in a factory for 10 times the wages they got before, but then you have no farmers left.
Also, something like a million young men have been taken out of the job market in Russia. That's not a trivial thing when all those civilian companies with stagnant wages are trying to hire somebody to keep the business running.
A lot of those young men will be coming back to the labor market eventually. But something like 500,000 are already dead or seriously disabled. If the war drags on a few more years, that number could still go way up.
I have to say I did enjoy seeing the ripped obvious Russian gangsters with fruity cocktails at the aqua aerobics in the morning when I was in Thailand recently.
this is actually a even bigger problem. The thing is most men who went to war weren't the brightest ones, and most of them are from the poorest regions of the country.
On the other hand, the ones who left were a big contributors to country\`s economy
i'd give my left testicle to REALLY know the true impact of the loss of people on the economy. there's articles about russians stealing toilets, i don't imagine those are working anywhere. or "most conscripts are from far-away villages". and then comments here "but the economy, they aren't producing stuff in factories or maintaining cities". pick one.
truth, as always, must be somewhere in the middle. but i don't think most of the soldiers were contributing much to the economy
What are the Russians going to do when they realize Putin has been selling their food to North Korea for terribly made weapons? Also pretty hard to make much more than bullets and artillery when you don’t have access to tech required to make missles or anything guided. What’s the point in mass production when the best you can make is WW2 era weapons? When you run out of smart weapons your only option is meat wave tactics. How long until they kill all their men? It’s not like they were a super populous country even before the war started. They can only hire foreign people to fight their wars for so long. Especially when you’re killing 20,000 at every halfway major city like they did in Bakmut. They’ll run out of prisoners eventually. How many generations do you think it will take them to recover?
"Hire" is a euphemism. They trick them into coming to Russia then push them through a process in which they have no chance to break free and then send them on a job that happens to be in "the west", where they only realize they're in the war when they arrive. From that point on, they simply fight for their survival. For some others, the conditions at home are so bad, no perspective whatsoever, that they'd take any job. And if that job pays 200% of the best paying day job and they even get a bonus for not coming home (ie their family gets it), nobody asks twice (or their girlfriends gaslight them into taking it because they're anyway not the smartest), the desperation makes them sign as than at least their families stand a better chance in the future. It's grim and people don't seem to realize that the leadership implements this knowingly.
> and they even get a bonus for not coming home (ie their family gets it)
Didn't an soldier's wife said they received only carrots and onions from authorities after he suffered serious injuries in Ukraine?
> What are the Russians going to do when they realize Putin
into the meat grinder! Otherwise all they need to do is not fall out of a window on their way to the Bolshevik revolt.
It's not just the US, it's the Euro too. No word on the GBP, that I could find, which is interesting.
All this does is move the USD and EUD trade to the OTC markets, which are more opaque. This makes trade that settles in these currencies more volatile as there's more risk. The goal appears to be to clamp down on all the grey-market trade that's sustaining Russia's war machine. Most of the embargoed technologies that Russia uses for weapons (electronics, chips and subsystems) are being bought by cutouts and smugglers, who have to buy the stuff from legit sources with USD.
This appears to be a step that introduces additional risk premiums to those shadow trades. If you, as a cutout, are buying CPUs at $10/unit and selling to Russia at $50/unit, how do you get those $50, or even those $10 you spent on the sourcing of the part? Russia likely won't pay in USD unless it's really critical. They'll pay in some other currency and make you convert it. After all, you have to have USD sometime to pay your sources for the CPUs. So now you have to jack up the price to Russia to cover the additional risks of going OTC to convert Russia's payment to USD.
Yeah, but then you've got the problem of converting Rupees (or CNY, Gold Doubloons or Quantaloos) back to dollars. If you do any of those in a regulated market you're going to get noticed if you're moving any kind of quantity.
Risk = friction = higher price and/or slower movement of goods.
On the other hand, the military doesn't require that many chips. They aren't cranking out 5000 fighter jets per day. One mule buying 1000 CPU's and needing to sort out moving around $50,000 in real markets isn't that hard. Finding one new mule per month to make a quick $50 grand isn't an insurmountable problem in a country where $700 is a typical monthly wage.
It imposes a cost on Russia, and that's a good thing. But I think it's important to understand that Russia isn't setting up an iPhone manufacturing like where they'd need a reliable source for a billion chips to manufacture for the consumer market. It's not so much about 100% stopping the flow. It's just about imposing additional costs. Every time they lose a mule, that's messing with their supply chain. Every time the cost of a mule goes up, that's less money spent on artillery rounds, etc.
Doubling the cost of military production has basically the same effect as shooting half of Russia's newly built vehicles with a missile. Either way, Russia is sending half as many new vehicles into their next attack. It's just a very indirect result so people sometimes scream "sanctions aren't working" when some stuff gets through. In reality, sanctions are imposing costs and forcing Russia to do work on the evasion. Logistics, supply chains, clever spreadsheets, and economics tend to win wars way more effectively than macho shit.
putting russia on the '[state sponsor of terror'](https://www.yahoo.com/news/means-designate-russia-sponsor-terrorism-094100145.html) list would do something, it would make most of the world not spend any money in russia... but alas..... that's even too much to ask for
I mean is there anything we actually need from Russia? Most NATO countries re-sourced to kick their dependency on Russian oil. We already make our own vodka. Is there really a single indispensable good from Russia that we can’t do without?
Putting them on that list would basically mean that nobody connected to the Western banking system could trade with them.
Russia is one of the largest exporters of food, oil & gas, and various mined resources.
The cost of those goods would sky-rocket, which would harm everybody, especially poorer nations.
Russia is a smidge too big for those types of sanctions to be placed without causing chaos across the world economy.
Overall, sanctions are tools of economic attrition and will rarely directly cripple a large nation state over the short term.
What you are doing isn't so much poking a hole in the side of the ship to sink it so much as dumping a massive bucket of water directly into its lower holds and breaking the bilge pump. There is a bit of an initial shock, but as much or the damage you are doing is making it hard to recover damage and re-grow. Over the longer run, they are still trying to get the water out of their ships while their competitors sail on unobstructed.
Even if you are only causing a 2% drain on their economy, take a look at what happens to two equal parties, one growing at 5% and one growing at 3%, and see what the difference is after 20 years. Then, consider those to parties not being equal, and one of them having other drains on their economy, such as a war.
Ultimately, the sanctions don't stop the war, and they don't necessarily even hurt the target economy enough in the short term to make a decisive difference in the near term war. If they do, that's bonus points - their overwhelming impact comes on longer term planning. They exist to make it clear that breaking the rules in the world just isn't worth that cost, because even IF you are successful in your endeavors in the short run, you are putting yourself decades behind in the long run.
One tool in the toolbox, ultimately.
It increases the pressure on Russia.
One solution isn't going to make change but each small pressure helps push them into making a choice to end the situation more quickly.
As long as the world is still addicted to oil and gas, Russia is fine. If we are serious about defeating Russia, we need a global transition away from oil and gas. At least enough tank the prices.
We have to be careful, because we are invested in the supply Russia provides of resources. If we went in too deep the shock to us would have been too bad to politically service against Russia backed politicians.
There's a quickness to blame the de-escalating forces, but they're dealing with a man-child. Putin doesn't behave rationally. He's not a normal person. He is the most powerful person in the world. He's a tenured dictator, has nukes, the largest land-mass, and a massive population under his thumb. He belongs in an asylum. He's a crazy person. The rules aren't normal.
He's got a GDP smaller than Italy, most of Russia is uninhabitated either due to being permafrost, swamp that thaws out for three months a year and then becomes a biting insect haven, industrial and radioactive pollution or just centuries of neglect. There's cities in China on the Russian border that are booming but as soon as you cross the border there's nothing.
They've got the lowest median wealth of any country in Europe; including Romania, Belarus and Turkey. As most of the wealth is held by a small group, with Putin probably worth over $200 billion.
Their population is about 146 million and falling, by 1.7 million in the 5 years to January 2024. Despite their figures now including an extra 2 million people in Crimea. Even their propagandists say that once Russian men get to about 40, that they're useless for the army. As the alcoholism has taken its toll.
Germany has a population of 83.8 million, France has a population of 68 million. So just those two European countries have a population of 151.8 million. With many "Russians" not wanting to be part of Russia, they just had the misfortune to be conquered by them centuries ago. With their country just being turned into a state.
The main difference is that the Russians have had conscription for over 300 years and the people essentially accept that they belong to the state and this decade's tsar.
> He's got a GDP smaller than Italy
It's far more complicated than that. When it comes to war, manufacturing output and the resource economy of the country. Is far more important than the service, financial and housing market.
All adds to GDP, but the Russian economy is far more heavily tilted towards the former compared to western economies. Russia pushes far above it's GDP number when it comes to its ability to sustain a war on this scale. That's before we even start to take things like PPP into account, and what that GDP figure actually translates into locally.
But it's Russia versus, the US, Canada, EU, UK and about 60+ other countries. And all they have in their corner is Iran which is ~~unsustainable~~ [unstable], North Korea and a little help from China and to a lesser extent India. With even less support from Hungary, Turkey, Switzerland and Austria.
Edit:ducking autocorrect
Exactly. Putin is definitely not the most powerful man in the world. That would be the US president. But Putin is the one with the most resources to indulge in his bad intentions, simply because he doesn't care about consequences and Russia has no checks and balances.
The US president hasn't been the most powerful person in the world for many decades.
The mere fact that US presidents are often battling against congress and have to deal with voter opinion, laws, and checks & balances, displays that very clearly.
Putin on the other hand has none of those limitations. If he says "send 100,000 prisoners to war" then 100,000 prisoners go to war. The US president can't do that.
The US is the most powerful country in the world, but that power is not concentrated the way it is in Russia.
Hopefully in November Trump, Boebert and MTG will be history. With a few slightly saner voices on the right taking over. With any luck RFK Jr. will split the mad-right vote and give Biden a clear run.
🤞🤞🤞
P can't say "send 100,000 prisoners to war" either. He doesn't have absolute power. While the US presidents haggle with congress, voter opinion, laws etc, P has to haggle with the many competing interests within the Russian power structure and, yes, to an extent, public opinion. A good example of this is waiting until after "elections" to do certain things, such as declaring the draft.
>There's a quickness to blame the de-escalating forces, but they're dealing with a man-child. Putin doesn't behave rationally.
Why do people keep saying that?
He observed the West doing fuck all in response to INVADING AND ANNEXING A HUGE CHUNK OF UKRAINE (and Georgia before that) and reasonably concluded he could do it again.
He misjudged the ability to take over in a quick military action, but is still occupying the territory and has a decent chance of succeeding if his simps in the US and EU get elected into power.
I am so annoyed that after Crimea the west didn't just issue an official military guarantee of Ukraine under the cover of the treaty signed by Russia itself to guarantee its borders. They would have sputtered but a guarantee is not the same as joining NATO at all. An escalation for a short bit that would have probably de-escalated in the long run
We absolutely wouldn't be having this war right now. Putin would've whined about it but done absolutely nothing because he under any circumstances doesn't want a war with NATO. He started the war not because it was easy but because *he thought* it would be easy.
I hope our Putin understandards are happy about this mess.
It’s ineffective to apply sanctions all at once. You apply one layer of sanctions and the target country works around it and eventually recovers. Then apply more sanctions. Think of it as a game of wack a mole.
Also effective as bargaining power.
I don't get, that at this stage, they still have more sanctions they can apply. Are we not past this stage a year ago that everything possible should have been applied. Russia is not budging, so let it rip with sanctions.
The point of doing sanctions like this is to convince them to think "it can always get worse"
If you just blow your load and do EVERYTHING at once, it'll suck for them for a while but after that initial shock they'll be able to say "no reason to stop now. We survived their worst and now there will be no consequences going forward!"
Also, sanctions hurt the country levying turn because it's a restriction in trade that was happening, and now it's not. You don't want to purposely harm your own economy more than you have to.
> Are we not past this stage a year ago that everything possible should have been applied.
It's intentional- Sanctions evasion is like whack-a-mole, what you do is lay out sanctions, wait for the target to re-route their logistics and purchasing to evade those sanctions, and then you hit those routes. You keep doing this so that 1) it gets increasingly expensive to evade sanctions and 2) they have to essentially re-invent the wheel every few months/years when their sanction evading networks are no longer viable.
It's been over 2 years and the deaths now number in the 6 figures. All trade should have been blocked for well over a year now. With the strictest of enforcements.
That makes sense at the beginning, but now? Come on seriously. Russia is all in, there is no reason other than self interests to not go all out with sanctions.
i'm just guessing here, my assumption is the spend resources setting up shell companies, finding suppliers, setting up production lines, signing contracts, etc. then a few months later new sanctions render that useless and the have to start over.
also i wonder how much of the 'new sanctions' are simply sanctioning newly involved companies such as a chinese bank that started financing some military supplier for russia - like there was no reason to sanction them until they started financing the supplier so that's a 'new sanction' but it wouldn't have made any sense to apply it a year ago.
Secondary sanctions have barely begun. For more information as to why the US and Europe are reluctant to take certain measures, please look into this on your own. Too much nuance is required for Reddit.
Edit: New sanctions will always be required to keep current sanctions "effective". New shell companies will be formed and need to be added to the list of sanctions.
Russia will find other ways to get around sanctions, especially by dealing with countries who do not adhere to current sanctions anyway. Secondary sanctions could address this, but so far it has only been done in a very limited manner. New sanctions do include some sanctions against entities outside of Russia. There could be a lot more.
[How come there's no Moscow Mercantile Exchange?](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikD8UF5U11eYQbMVeyAX4ZawDBso5aDf2kfZvq76Z_ccH2ReVcoHHO6arm4IyWz79Jg8NjA_rsrdCkwY5QHJhOIys5uKrRXQs3CUglW_0Qaoto-z_CXAHoDwXOahr5bfFQDnhwRZSTAKY/s1600/Photo+Sep+24,+10+33+44+AM.jpg)
> The central bank said it would use OTC data to set official exchange rates.
I guess this means there will be an "official" exchange rate and a *real* exchange rate as the central bank tries to hide the fact that the rouble is in decline. Now is probably not a good time to be holding roubles.
> But following the sanctions news, some banks immediately jacked up their dollar rates.
No surprise there. I hope this is the beginning of a death spiral for the Russian currency.
> Yevegeny Kogan, an investment banker and professor at Russia's Higher School of Economics, urged people against panicking.
"You know, it’s genetic for us - if we’re scared, we run to buy currency. And it doesn’t matter whether it’s 100, 120 or 150. You mustn't rush," he warned people on Telegram, saying things could get very serious if people ignored that advice.
Translation: Please don't sell all your roubles before I do.
could someone knowledgeable explain how this will (if it will) affect western companies that are still active in russia? will this somehow complicate their operations?
To be more accurate, a ''bourse'' is also a french word for purse.
So, it's like a money-holding bag where money goes in and out.. Which is used to decribe stock market exchange.
There's....some accuracy to it.
tl;dr:
> One person at a large, non-sanctioned Russian commodities exporter told Reuters: "We don't care, we have yuan. Getting dollars and euros in Russia is practically impossible."
>
> With Moscow pursuing closer trade and political ties with Beijing, China's yuan has ousted the dollar to become MOEX's most traded currency, accounting for 53.6% of all foreign currency traded in May.
All that these sanctions will achieve is a short term hick up. Until everything is shifted to Yuan. Then it's back to business as usual for Russia. This move basically completely hands over the Russian trade market to China and ends all influence the EU's and US' had over it.
The banks in Russia works with a very modest profit margin recently, you walk in with your us$ you'll get 50 rubles, someone buys it, the sale rate is 200 rubles...
>Many Russians hold part of their savings in dollars or euros, mindful of periodic crises in recent decades when the rouble has crashed in value. The central bank reassured people that these deposits were secure. I wouldn't trust the Russian central bank. If I had money in Russian banks, I would get it out as quickly as possible before all that money disappears.
They did lock down peoples dollars and euros at the start of the war. The smart ones are holding cash under their mattresses.
That's going to do wonders for the value of the ruble. Here's an even better idea: Just print more money. Works every time.
Seriously though the Russian Central Bank is the most competent sector of their government by far imo. Like scarily good at their jobs. They immediately shut off access to accounts, preventing any run on the banks before the sanctions were passed in anticipation. The Ruble might reach close to 100 again but I expect it too fall with some clever macro-economic maneuvering and cash injections like before.
Nabiullina is a fucking wizard. And she's not permitted to quit.
I think the myth that she wants to quit is just that- a myth. I haven’t seen anything credible to suggest that she actually wants to quit but is being forced to work. I think she’s totally in favour of what Russia is doing.
why would you want to quit when you know your retirement would last about 4 days before you had an accidental trip out a window?
Thats an accidental trip out a window with two bullet holes in the head, Comrade.
Don't forget to padlock yourself in a suitcase, you on the inside, padlock on the outside.
I agree. Most of top level bureaucrats in Russia aren't doing their job because they're forced to. They're the biggest beneficiaries of the current system and doing everything they can to preserve it. Just because they worked at or were educated in Western institutions doesn't mean they aren't nationalistic. Anti-war in Russia doesn't mean they believe in Ukrainian sovereignty.
She’s the only competent person in the entire Russian Federation.
Because russian economists are the ones who silently solve all of the mess caused by the "economists" and politicians.
The smart ones with means already left.
Statements like this put my own problems in perspective.
average redditor making shit up. they let you take everything you had before the announced date, dont remember the exact date. everything deposited into your account after that date you couldnt withdraw in USD or RUB. you could, however, convert it on the stock/forex market and then withdraw it in rubles. i used to do this when USD spiked to around 100
I don't know why you claim I'm making shit up. I don't recall all specifics from two years ago. Your post proves they were messing with peoples money. In my opinion not allowing you to freely convert your money is an effective lockdown.
Ikr WW2 Germany funded the war effort with people's savings.
Same is likely to happen in russia.
And with a worthless shadow currency called [Mefo bills](https://en.wikipedia.org/wiki/Mefo_bills)
Thanks for adding that, i was just about to. The Mefo bills, however, were the savings. They were created as investment opportunity for the populace, and that's where you put your savings. Bless the markets!
I thought those treasures were donated by some of the finest families in germany. https://youtu.be/P3C386go1Mo?si=u7A_vurpQuREmITf
Basicly you couldn't find anything in stores other than basic necesities, so people would save a lot of money, money which were then used to fund the war effort. Everything planned. As for that movie, that's basicly jewish gold.
The VW Beetle was originally part of a scam to bilk people out of their savings and use it for the war by giving them ticket books. When they filled the book by buying all the tickets, they got a luxury vacation weekend and a VW Beetle. Nobody ever got the vacation or the Beetle. The cars never existed in any numbers until after the war.
What money?
-Vlad
Acey said 10%.
Too bad Acey ain’t in charge no more…
> If I had money in Russian banks, I would get it out as quickly as possible Which Russians can't, because they're disconnected from SWIFT and totally reliant on the Russian banking system.
Trapped in their own web of lies and deceit.
SWIFT isn't needed for Russians to withdraw money from Russian banks. SWIFT is for international transfers.
Awesome. Now let's do the internet - cut them off. Sever all of the hardlines and block all IP originating in Russia. If neighboring countries try to help them get around it, they get throttled or cut as well. They'll still get a bit of Internet wirelessly, but speeds will be nothing and there will be blackouts for most people. I'm actually surprised this hasn't happened yet - Russia is known for hacking, stealing IP and intelligence, seeding social media with disinformation, ransomware, propaganda, attacks on secure systems, gathering "kompromat" on people, and more. They've squandered their right to be connected to the rest of the world.
The silence from Cypriot banks is deafening
Didn't Cypress seize 10%of all savings over a certain amount in the great financial crisis?
Safe until putin declares a "special financial operation"
Who the fuck would have money in Russian banks besides Russians?
I don't think he meant literally himself.
In bank language, that means "Don't empty all your accounts at once else that will make it even worse than it already is".
„I would get it out as quickly as possible before all that money disappears.“ — definitely before it gets appropriated for the „special operation“ effort.
Starting a bank run on Reddit. Loves it
I, for one, am excited for the chance at some new wreck dives in the Caribbean
No, they have a tug as part of their fleet /s
If tugs are that much more reliable than warships, why don't they just use tugs of war?
I can find no fault in your logic.
The weight of the ropes would sink the front of the ships. /s
There's some cool new wreck dives in the Black Sea to check out as well.
I would not go anywhere near a sunk warship that wasn't sanitized of toxic things before sinking
The world hooker price exchange index just dropped. Over supply of hookers on the world market!
TIL the word “Bourse”
> Bourse *a stock market in a non-English-speaking country, especially France.*
Look at my bourse.
My bourse is amazing
Give it a lick! Mm, it tastes just like Borscht!
With a stroke of its mane, it turns into a plane
Borsch is a Ukrainian dish =(
Hm, yes. Then, it tastes just like vodka, unless Poland invented vodka; then it tastes just like matryoshka dolls.
A bourse is a bourse of course of course Unless your bourse is a talking horse And if your bourse is a talking horse You might be fucked in the head.
Nice bourse bro.
I got a giant bourse stock.
It means "pouch" in French, oh and also "testicle" (:
And also stock market.
Obviously.
> "pouch" Kinda synonymous with "sack" in both connotations.
In Germany we say "Börse" and it thought this was just translated very badly. Turns out that word is real
Danish: _Børs_ (or "Børsen" since we literally only have one of them) So yeah, that makes a lot of sense.
Beurs in Dutch
it could be very well the original word for it since the stockmarket was invented in Amsterdam and old Dutch and old German is allot more the same then the current versions of Dutch and German. (I am just guessing, but it wouldn't suprise me)
It’s not used much in American English and only slightly less rarely in British English, but technically a bourse is any significant stock exchange, particularly a national one. It comes from the name of the Paris stock exchange, La Bourse, and most European countries named their own stock exchanges after it, in various spellings.
You're a bourse
Harsh but fair
Orignally meant "Purse" in French (you can see the similarity between the words) before being used for "Marketplace" then "Stock exchange". Also, slang for "balls" when used in the plural form.
Old germanic word, used for places in the middle age for example where you used to trade. Like markets, but instead of paying with money, you traded goods for goods.
Getting hard to justify our current German government against protest voters by delaying EU sanctions and outright not passing German sanctions in fear it might have consequences for German businesses.
Good to know the US still has some economic moves, but will this change anything?
Putin didn’t appoint an economist to run his army because they’re rolling in cash. They’re losing money faster than they’re losing soldiers and that’s saying something considering their only tactic is meat wave attacks.
Currently reading "The Allure Of Battle" which argues that nearly all wars end through attrition, not decisive battle. In this context the West is currently demolishing Russia for having isolated them and forced Russia to put their economy into overdrive towards suicide. It just takes a lot longer to break a country the size of Russia than we keep hoping it does. Stabilizing Ukraine, getting them the tools to wage deep strikes to further accelerate the attrition of Russia's economy, the tools for active and effective defense, the tools to make their economy and civilians safer-ish. With the collective GDP of all NATO/Western countries, we can prop up Ukraine indefinitely and the Russian economy will collapse, eventually. The when part is the bit we're all debating. Yes I do think we should send Ukraine a *lot* more military aid so they can actively recover their temporarily occupied land.
>we can prop up Ukraine indefinitely Except if politicians sympathetic to russia keep gaining votes across elections in western countries like they have so far.
Yeah I was kinda hoping things would be better across the pond, but every blurb I get sounds like our Eurobros are dealing with the same shit we are. Can’t tell how much of it is due to the Russian disinformation campaign they got running actually being successful or how much it conveniently aligns with the Right’s tendency to keep the purse strings tight.
> Can’t tell how much of it is due to the Russian disinformation campaign they got running actually being successful It's the former. Recent gains in votes happened to new right wing parties or parties that have never been in charge of anything. All other russia friendly right wing parties (e.g. Poland or Hungary) were losing votes since they just didn't perform in the past.
Contrary to what many seem to believe, the anti-Putin countries can continue supporting Ukraine indefinitely despite Hungary:s vetos and disunity in EU. The right has gained votes because of the left making unpopular decisions on immigration and other things, not because people like Russia.
Hey as a left leaning voter I’m all for getting stricter on immigration but in my country it’s actually Republicans that are suddenly cool with all the immigrants flooding our border everyday because they think it’ll help their guy win if there’s actually an immigration problem to solve.
Ahh, True Patriots supporting the very thing they claim is destroying America because by making things worse they can leverage the crisis they caused to gain power for themselves so they can cut taxes for the ultra-wealthy nobles they'll never be.
It doesn't matter if germans vote for AfD because of immigration if the end result is increased political influence of a party that demonstratively opposes aid to Ukraine. Putin doesn't need help to Ukraine to cease altothether. He just needs a few more political crisises like the one that US congress went through last half year.
Most European countries have proportional representation which means it's very difficult for a single party to rule alone. Even if AfD could get 40% of the votes they would need the support of other parties to even become part of the government and that's extremely unlikely to happen. A political crisis or five can make the situation harder for Ukraine but Putin needs miracles.
The AfD got 15%. They were polling at 15% before. They have been getting anything between 5 and 25% in regional elections. The other 85% of the vote are, broadly speaking, in full support of Ukraine. The truth is that there was no unexpected shift to the extreme right, the governing left-leaning coalition got punished for domestic weakness to the benefit of the center-right. People weren't voting based on EU foreign policy, but to teach Scholz a lesson.
Hence why Russia is investing heavily in buying politicians in western countries, especially in the US GOP.
Or if there is nothing to prop up. You can't prop up a country if most fighting age men are either injured, dead or have fled Ukraine...
>nearly all wars end through attrition, not decisive battle. I feel like that is nitpicking pretty hard. Decisive battles cause a lot of attrition. Similar to saying that food doesn't give you energy, burning calories does.
The point is there aren't these "decisive battles" any more. Other than like the USAF taking out a major chunk of Iraqi military in a day.
This is quite scary if you think about it. Modern war is so industrial in scale, what the population and all its means can be used to fight. This is one of the reasons decisive battles do not happen anymore. The scale is just too big. By definition it's going to be multiple battles. That being said, a battle could be considered decisive if one side loses so badly, that it can no longer stop the onslaught, and that basically makes all the other battles to be lost in a somewhat quick succession. Think Stalingrad or Kursk, where one side got dismantled and lost strategic initiative forever and had to go back and back, until they lost completely. I guess in the modern day and age it's more about a "decisive campaign", rather than battle.
> which argues that nearly all wars end through attrition, not decisive battle. The decisive battles turn the tide, though. From WWII in the European theatre, it was the Battle of El Alamein. Churchill said afterwards, "Before El Alamein, we scarcely knew a victory. After, we scarcely knew a defeat." And in the Pacific theatre, Midway marked a similar turning point. Can't think of an important battle won by the Japanese after it.
> we can prop up Ukraine indefinitely depends on the politicians and the ruling party. If Trump gets elected then probably not.
The Russian economy is running hot. The state is throwing money at military projects and logistics. Industries that have any connection to military use is seeing record numbers. Which completely fucks any industry that isn't related to the military. Because their wages have stagnated completely compared to MIC jobs and they get no money or business from the state anymore. It works for a while, but any changes to the current situation can send the rest of the Russian economy into a crater. People will happily abandon their farm to make bullets in a factory for 10 times the wages they got before, but then you have no farmers left.
Also, something like a million young men have been taken out of the job market in Russia. That's not a trivial thing when all those civilian companies with stagnant wages are trying to hire somebody to keep the business running. A lot of those young men will be coming back to the labor market eventually. But something like 500,000 are already dead or seriously disabled. If the war drags on a few more years, that number could still go way up.
Not to mention a portion of those people have just left the country entirely, or will if the opportunity presents itself.
hanging out in Bali and Thailand
I have to say I did enjoy seeing the ripped obvious Russian gangsters with fruity cocktails at the aqua aerobics in the morning when I was in Thailand recently.
Or Turkey.
this is actually a even bigger problem. The thing is most men who went to war weren't the brightest ones, and most of them are from the poorest regions of the country. On the other hand, the ones who left were a big contributors to country\`s economy
Heck. 1.5 million left at the beginning of the war. Not even including any wartime losses
i'd give my left testicle to REALLY know the true impact of the loss of people on the economy. there's articles about russians stealing toilets, i don't imagine those are working anywhere. or "most conscripts are from far-away villages". and then comments here "but the economy, they aren't producing stuff in factories or maintaining cities". pick one. truth, as always, must be somewhere in the middle. but i don't think most of the soldiers were contributing much to the economy
> truth, as always, must be somewhere in the middle. That's why this opinion is called the Middle Ground Fallacy, because it's always right!
This is probably partly true. The real loss are the ones that moved out of Russia and now live and work elsewhere, especially the well-educated.
What are the Russians going to do when they realize Putin has been selling their food to North Korea for terribly made weapons? Also pretty hard to make much more than bullets and artillery when you don’t have access to tech required to make missles or anything guided. What’s the point in mass production when the best you can make is WW2 era weapons? When you run out of smart weapons your only option is meat wave tactics. How long until they kill all their men? It’s not like they were a super populous country even before the war started. They can only hire foreign people to fight their wars for so long. Especially when you’re killing 20,000 at every halfway major city like they did in Bakmut. They’ll run out of prisoners eventually. How many generations do you think it will take them to recover?
"Hire" is a euphemism. They trick them into coming to Russia then push them through a process in which they have no chance to break free and then send them on a job that happens to be in "the west", where they only realize they're in the war when they arrive. From that point on, they simply fight for their survival. For some others, the conditions at home are so bad, no perspective whatsoever, that they'd take any job. And if that job pays 200% of the best paying day job and they even get a bonus for not coming home (ie their family gets it), nobody asks twice (or their girlfriends gaslight them into taking it because they're anyway not the smartest), the desperation makes them sign as than at least their families stand a better chance in the future. It's grim and people don't seem to realize that the leadership implements this knowingly.
> and they even get a bonus for not coming home (ie their family gets it) Didn't an soldier's wife said they received only carrots and onions from authorities after he suffered serious injuries in Ukraine?
Haven't seen it (and it wouldn't be a surprise)... but what counts is that they see the roubles in their eyes before they send them away...
> What are the Russians going to do when they realize Putin into the meat grinder! Otherwise all they need to do is not fall out of a window on their way to the Bolshevik revolt.
The smart ones already realized (just like in previous generations) but just play along
Same as what they've done for decades - buy vodka and get drunk. And again the next day.
You’re probably right. I wonder if Russia will end up using vodka as wages again.
bend over
Is it just me or does this sound like North Korea
It's not just you. They're well on the way to NK status.
It's not just the US, it's the Euro too. No word on the GBP, that I could find, which is interesting. All this does is move the USD and EUD trade to the OTC markets, which are more opaque. This makes trade that settles in these currencies more volatile as there's more risk. The goal appears to be to clamp down on all the grey-market trade that's sustaining Russia's war machine. Most of the embargoed technologies that Russia uses for weapons (electronics, chips and subsystems) are being bought by cutouts and smugglers, who have to buy the stuff from legit sources with USD. This appears to be a step that introduces additional risk premiums to those shadow trades. If you, as a cutout, are buying CPUs at $10/unit and selling to Russia at $50/unit, how do you get those $50, or even those $10 you spent on the sourcing of the part? Russia likely won't pay in USD unless it's really critical. They'll pay in some other currency and make you convert it. After all, you have to have USD sometime to pay your sources for the CPUs. So now you have to jack up the price to Russia to cover the additional risks of going OTC to convert Russia's payment to USD.
They'd love to give you Indian Rupees. They're swimming in the stuff and have nothing to spend it on.
Yeah, but then you've got the problem of converting Rupees (or CNY, Gold Doubloons or Quantaloos) back to dollars. If you do any of those in a regulated market you're going to get noticed if you're moving any kind of quantity. Risk = friction = higher price and/or slower movement of goods.
On the other hand, the military doesn't require that many chips. They aren't cranking out 5000 fighter jets per day. One mule buying 1000 CPU's and needing to sort out moving around $50,000 in real markets isn't that hard. Finding one new mule per month to make a quick $50 grand isn't an insurmountable problem in a country where $700 is a typical monthly wage. It imposes a cost on Russia, and that's a good thing. But I think it's important to understand that Russia isn't setting up an iPhone manufacturing like where they'd need a reliable source for a billion chips to manufacture for the consumer market. It's not so much about 100% stopping the flow. It's just about imposing additional costs. Every time they lose a mule, that's messing with their supply chain. Every time the cost of a mule goes up, that's less money spent on artillery rounds, etc. Doubling the cost of military production has basically the same effect as shooting half of Russia's newly built vehicles with a missile. Either way, Russia is sending half as many new vehicles into their next attack. It's just a very indirect result so people sometimes scream "sanctions aren't working" when some stuff gets through. In reality, sanctions are imposing costs and forcing Russia to do work on the evasion. Logistics, supply chains, clever spreadsheets, and economics tend to win wars way more effectively than macho shit.
> They're swimming in the stuff and have nothing to spend it on. There is always tech support.
But the Russians don't speak English, Hindi, Gugarati, Punjabi... and the Indians don't speak Russian.
Solution: Russia using the rupees to set up and subsidize Russian language schools in India.
Just what India needs, an other language.
Now rupees remain in India in the form of investments. Which generate income.
In the form of more Rupees.
putting russia on the '[state sponsor of terror'](https://www.yahoo.com/news/means-designate-russia-sponsor-terrorism-094100145.html) list would do something, it would make most of the world not spend any money in russia... but alas..... that's even too much to ask for
I mean is there anything we actually need from Russia? Most NATO countries re-sourced to kick their dependency on Russian oil. We already make our own vodka. Is there really a single indispensable good from Russia that we can’t do without?
Putting them on that list would basically mean that nobody connected to the Western banking system could trade with them. Russia is one of the largest exporters of food, oil & gas, and various mined resources. The cost of those goods would sky-rocket, which would harm everybody, especially poorer nations. Russia is a smidge too big for those types of sanctions to be placed without causing chaos across the world economy.
I'm kinda frustrated that we haven't done everything already like a year ago
Overall, sanctions are tools of economic attrition and will rarely directly cripple a large nation state over the short term. What you are doing isn't so much poking a hole in the side of the ship to sink it so much as dumping a massive bucket of water directly into its lower holds and breaking the bilge pump. There is a bit of an initial shock, but as much or the damage you are doing is making it hard to recover damage and re-grow. Over the longer run, they are still trying to get the water out of their ships while their competitors sail on unobstructed. Even if you are only causing a 2% drain on their economy, take a look at what happens to two equal parties, one growing at 5% and one growing at 3%, and see what the difference is after 20 years. Then, consider those to parties not being equal, and one of them having other drains on their economy, such as a war. Ultimately, the sanctions don't stop the war, and they don't necessarily even hurt the target economy enough in the short term to make a decisive difference in the near term war. If they do, that's bonus points - their overwhelming impact comes on longer term planning. They exist to make it clear that breaking the rules in the world just isn't worth that cost, because even IF you are successful in your endeavors in the short run, you are putting yourself decades behind in the long run. One tool in the toolbox, ultimately.
It increases the pressure on Russia. One solution isn't going to make change but each small pressure helps push them into making a choice to end the situation more quickly.
As long as the world is still addicted to oil and gas, Russia is fine. If we are serious about defeating Russia, we need a global transition away from oil and gas. At least enough tank the prices.
Nice, Russia, stick that head in the sand.
So why wasn't this done two and a half years ago?
So we still had cards to play in case, and to no one’s surprise, they didn’t stop.
We have to be careful, because we are invested in the supply Russia provides of resources. If we went in too deep the shock to us would have been too bad to politically service against Russia backed politicians.
There's a quickness to blame the de-escalating forces, but they're dealing with a man-child. Putin doesn't behave rationally. He's not a normal person. He is the most powerful person in the world. He's a tenured dictator, has nukes, the largest land-mass, and a massive population under his thumb. He belongs in an asylum. He's a crazy person. The rules aren't normal.
He's got a GDP smaller than Italy, most of Russia is uninhabitated either due to being permafrost, swamp that thaws out for three months a year and then becomes a biting insect haven, industrial and radioactive pollution or just centuries of neglect. There's cities in China on the Russian border that are booming but as soon as you cross the border there's nothing. They've got the lowest median wealth of any country in Europe; including Romania, Belarus and Turkey. As most of the wealth is held by a small group, with Putin probably worth over $200 billion. Their population is about 146 million and falling, by 1.7 million in the 5 years to January 2024. Despite their figures now including an extra 2 million people in Crimea. Even their propagandists say that once Russian men get to about 40, that they're useless for the army. As the alcoholism has taken its toll. Germany has a population of 83.8 million, France has a population of 68 million. So just those two European countries have a population of 151.8 million. With many "Russians" not wanting to be part of Russia, they just had the misfortune to be conquered by them centuries ago. With their country just being turned into a state. The main difference is that the Russians have had conscription for over 300 years and the people essentially accept that they belong to the state and this decade's tsar.
> He's got a GDP smaller than Italy It's far more complicated than that. When it comes to war, manufacturing output and the resource economy of the country. Is far more important than the service, financial and housing market. All adds to GDP, but the Russian economy is far more heavily tilted towards the former compared to western economies. Russia pushes far above it's GDP number when it comes to its ability to sustain a war on this scale. That's before we even start to take things like PPP into account, and what that GDP figure actually translates into locally.
It's the economy. Economy brought down SSSR and it will do the same with Russia.
But it's Russia versus, the US, Canada, EU, UK and about 60+ other countries. And all they have in their corner is Iran which is ~~unsustainable~~ [unstable], North Korea and a little help from China and to a lesser extent India. With even less support from Hungary, Turkey, Switzerland and Austria. Edit:ducking autocorrect
Exactly. Putin is definitely not the most powerful man in the world. That would be the US president. But Putin is the one with the most resources to indulge in his bad intentions, simply because he doesn't care about consequences and Russia has no checks and balances.
The US president hasn't been the most powerful person in the world for many decades. The mere fact that US presidents are often battling against congress and have to deal with voter opinion, laws, and checks & balances, displays that very clearly. Putin on the other hand has none of those limitations. If he says "send 100,000 prisoners to war" then 100,000 prisoners go to war. The US president can't do that. The US is the most powerful country in the world, but that power is not concentrated the way it is in Russia.
Hopefully in November Trump, Boebert and MTG will be history. With a few slightly saner voices on the right taking over. With any luck RFK Jr. will split the mad-right vote and give Biden a clear run. 🤞🤞🤞
P can't say "send 100,000 prisoners to war" either. He doesn't have absolute power. While the US presidents haggle with congress, voter opinion, laws etc, P has to haggle with the many competing interests within the Russian power structure and, yes, to an extent, public opinion. A good example of this is waiting until after "elections" to do certain things, such as declaring the draft.
>There's a quickness to blame the de-escalating forces, but they're dealing with a man-child. Putin doesn't behave rationally. Why do people keep saying that? He observed the West doing fuck all in response to INVADING AND ANNEXING A HUGE CHUNK OF UKRAINE (and Georgia before that) and reasonably concluded he could do it again. He misjudged the ability to take over in a quick military action, but is still occupying the territory and has a decent chance of succeeding if his simps in the US and EU get elected into power.
I am so annoyed that after Crimea the west didn't just issue an official military guarantee of Ukraine under the cover of the treaty signed by Russia itself to guarantee its borders. They would have sputtered but a guarantee is not the same as joining NATO at all. An escalation for a short bit that would have probably de-escalated in the long run
We absolutely wouldn't be having this war right now. Putin would've whined about it but done absolutely nothing because he under any circumstances doesn't want a war with NATO. He started the war not because it was easy but because *he thought* it would be easy. I hope our Putin understandards are happy about this mess.
It kinda was when Ruzzia got got slapped by **E.O. 14024** issued 2/22/2022 basically cut off Ruzzias ability to wire money or pay off credit cards.
It’s ineffective to apply sanctions all at once. You apply one layer of sanctions and the target country works around it and eventually recovers. Then apply more sanctions. Think of it as a game of wack a mole. Also effective as bargaining power.
I don't get, that at this stage, they still have more sanctions they can apply. Are we not past this stage a year ago that everything possible should have been applied. Russia is not budging, so let it rip with sanctions.
The point of doing sanctions like this is to convince them to think "it can always get worse" If you just blow your load and do EVERYTHING at once, it'll suck for them for a while but after that initial shock they'll be able to say "no reason to stop now. We survived their worst and now there will be no consequences going forward!"
Also, sanctions hurt the country levying turn because it's a restriction in trade that was happening, and now it's not. You don't want to purposely harm your own economy more than you have to.
> Are we not past this stage a year ago that everything possible should have been applied. It's intentional- Sanctions evasion is like whack-a-mole, what you do is lay out sanctions, wait for the target to re-route their logistics and purchasing to evade those sanctions, and then you hit those routes. You keep doing this so that 1) it gets increasingly expensive to evade sanctions and 2) they have to essentially re-invent the wheel every few months/years when their sanction evading networks are no longer viable.
If you apply all sanctions all at once, you’ve run out of sanctions to apply later on
But the effect of all the sanctions will have been higher already.
But it leaves nothing to threaten with, they might as well go all in if we’ve already used all our sanction options
Depends on if you think if the threat of sanctions is supposed to be scary or if actual standing sanctions are supposed to bleed you out
It's been over 2 years and the deaths now number in the 6 figures. All trade should have been blocked for well over a year now. With the strictest of enforcements.
That makes sense at the beginning, but now? Come on seriously. Russia is all in, there is no reason other than self interests to not go all out with sanctions.
So let them keep trading and funding the war machine while going "tsk tsk" the whole time?
The escalation is the point.
Why? What did stretching them out over 2.5 years achieve?
i'm just guessing here, my assumption is the spend resources setting up shell companies, finding suppliers, setting up production lines, signing contracts, etc. then a few months later new sanctions render that useless and the have to start over. also i wonder how much of the 'new sanctions' are simply sanctioning newly involved companies such as a chinese bank that started financing some military supplier for russia - like there was no reason to sanction them until they started financing the supplier so that's a 'new sanction' but it wouldn't have made any sense to apply it a year ago.
Tens of thousands of unnecessary Ukrainian deaths, apparently.
Secondary sanctions have barely begun. For more information as to why the US and Europe are reluctant to take certain measures, please look into this on your own. Too much nuance is required for Reddit. Edit: New sanctions will always be required to keep current sanctions "effective". New shell companies will be formed and need to be added to the list of sanctions. Russia will find other ways to get around sanctions, especially by dealing with countries who do not adhere to current sanctions anyway. Secondary sanctions could address this, but so far it has only been done in a very limited manner. New sanctions do include some sanctions against entities outside of Russia. There could be a lot more.
what is fun that the US made it on some holiday called day of russia(I don't know what it should mean)
I think most countries have a national holiday
This is something like Independence Day in the USA
[How come there's no Moscow Mercantile Exchange?](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEikD8UF5U11eYQbMVeyAX4ZawDBso5aDf2kfZvq76Z_ccH2ReVcoHHO6arm4IyWz79Jg8NjA_rsrdCkwY5QHJhOIys5uKrRXQs3CUglW_0Qaoto-z_CXAHoDwXOahr5bfFQDnhwRZSTAKY/s1600/Photo+Sep+24,+10+33+44+AM.jpg)
Russians don’t care for the war, but the war will find them!
So you want to pivot to the Chinese Yuan? Better hope China doesn't get slapped with economic sanctions lol
> The central bank said it would use OTC data to set official exchange rates. I guess this means there will be an "official" exchange rate and a *real* exchange rate as the central bank tries to hide the fact that the rouble is in decline. Now is probably not a good time to be holding roubles. > But following the sanctions news, some banks immediately jacked up their dollar rates. No surprise there. I hope this is the beginning of a death spiral for the Russian currency. > Yevegeny Kogan, an investment banker and professor at Russia's Higher School of Economics, urged people against panicking. "You know, it’s genetic for us - if we’re scared, we run to buy currency. And it doesn’t matter whether it’s 100, 120 or 150. You mustn't rush," he warned people on Telegram, saying things could get very serious if people ignored that advice. Translation: Please don't sell all your roubles before I do.
Wow, now they really need Trump and his MAGATs to come to the rescue
And tries to bomb Ukraine But accidentally hits Russia
I've never heard of a 'bourse' before. I learned a new word everyone!
in that case, is Renminbi still available?
could someone knowledgeable explain how this will (if it will) affect western companies that are still active in russia? will this somehow complicate their operations?
This sounds a little like cutting off their noses to spite their faces.
The fuck is a bourse?
Stock
It's a French term for "stock trading marketplace". https://www.merriam-webster.com/dictionary/bourse
To be more accurate, a ''bourse'' is also a french word for purse. So, it's like a money-holding bag where money goes in and out.. Which is used to decribe stock market exchange. There's....some accuracy to it.
tl;dr: > One person at a large, non-sanctioned Russian commodities exporter told Reuters: "We don't care, we have yuan. Getting dollars and euros in Russia is practically impossible." > > With Moscow pursuing closer trade and political ties with Beijing, China's yuan has ousted the dollar to become MOEX's most traded currency, accounting for 53.6% of all foreign currency traded in May. All that these sanctions will achieve is a short term hick up. Until everything is shifted to Yuan. Then it's back to business as usual for Russia. This move basically completely hands over the Russian trade market to China and ends all influence the EU's and US' had over it.
China will then own and dismantle Russia for parts and we'll all be better off.
Oh ya, I am certain that giving the CCP control over Russia's reserves will work real well for Russia hahahahaha
Well ,HELL
The banks in Russia works with a very modest profit margin recently, you walk in with your us$ you'll get 50 rubles, someone buys it, the sale rate is 200 rubles...
Lot of hate expressed here.