Together with the US central bank freeze, 400 out of 670B$ is now blocked. This “sanction protect” economy isn’t that solid anymore.
Lets see how long it takes for the Russians to dust off the old Sovjet trait to trade chickens for toilet rolls.
I just read an article but I can’t find anymore..
Anyway”:
” Commercial bank Tinkoff was quoting an exchange rate on Sunday night of 164 to the dollar for ruble sellers, and 92 for buyers — a massive spread that implies people’s savings in the Russian currency will effectively halve in value.”
With SWIFT gone, they may not be able to access even not frozen assets.
“Immune to sanctions”
More like 75%
If they are so immune to sanctions why did he mention them during his nuclear brinkmanship statement?
Good, Russia has been saving a lot of money for this, making half of it not usable will help a lot
US/EU are stuffing Russia into a locker right now economically. This is just crazy.
Another commenter said this invasion is costing $20 billion a day. With only around $300 billion in currency it seem Ukraine only needs to survive 2 weeks
There’s a lot of schadenfreude seeing putler’s wannabe empire getting damaged. However, this is going to have negative effects well beyond russia.
This is economic warfare and essentially a declaration of war.
All foreign assets in Russia will have to written off as losses. BP has arleady started doing it.
There is actually a strong case to be made, that China will notice and start to decouple from foreign debt into gold or other hard assets.
Good. Next move, in 4 days, no, let’s say in 5 days time if Russian soldiers will not move out from Ukraine, including Crimea, confiscate those money, and send it to Ukraine, to buy weapons and for future recovery.
I am all for it.
Unless there is a populist revolution against putin and the whole Russian system, aren’t we just going to push them more into the alternative economy with China?
13 comments
Together with the US central bank freeze, 400 out of 670B$ is now blocked. This “sanction protect” economy isn’t that solid anymore.
Lets see how long it takes for the Russians to dust off the old Sovjet trait to trade chickens for toilet rolls.
I just read an article but I can’t find anymore..
Anyway”:
” Commercial bank Tinkoff was quoting an exchange rate on Sunday night of 164 to the dollar for ruble sellers, and 92 for buyers — a massive spread that implies people’s savings in the Russian currency will effectively halve in value.”
Ruble is falling hard.
[reuters: European markets](https://www.reuters.com/markets/europe/global-markets-wrapup-1-pix-2022-02-27/)
With SWIFT gone, they may not be able to access even not frozen assets.
“Immune to sanctions”
More like 75%
If they are so immune to sanctions why did he mention them during his nuclear brinkmanship statement?
Good, Russia has been saving a lot of money for this, making half of it not usable will help a lot
US/EU are stuffing Russia into a locker right now economically. This is just crazy.
Another commenter said this invasion is costing $20 billion a day. With only around $300 billion in currency it seem Ukraine only needs to survive 2 weeks
There’s a lot of schadenfreude seeing putler’s wannabe empire getting damaged. However, this is going to have negative effects well beyond russia.
This is economic warfare and essentially a declaration of war.
All foreign assets in Russia will have to written off as losses. BP has arleady started doing it.
There is actually a strong case to be made, that China will notice and start to decouple from foreign debt into gold or other hard assets.
Good. Next move, in 4 days, no, let’s say in 5 days time if Russian soldiers will not move out from Ukraine, including Crimea, confiscate those money, and send it to Ukraine, to buy weapons and for future recovery.
I am all for it.
Unless there is a populist revolution against putin and the whole Russian system, aren’t we just going to push them more into the alternative economy with China?
I fear the long term consequences of this war.