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Save_Ukraine saysRussia's economy will be set back 30 years if not more :) The world unites against the aggressor.....cant wait to see the Russian bankruptcies pile up.American puppet, Ukraine wanted this war. Russia will survive and in time thrive. Ukrainians won't have a country. Most countries (outside of NATO) are either neutral or backing Putin and looking forward to better days. Taiwan is next.
Russia's economy will be set back 30 years if not more :) The world unites against the aggressor.....cant wait to see the Russian bankruptcies pile up.
Bd6r saysFortwaynemobile saysIt’s $6 a gallon here nowabout 3.30 around hereIf gas goes to $6/gallon, people will cut down on driving.
Fortwaynemobile saysIt’s $6 a gallon here nowabout 3.30 around here
It’s $6 a gallon here now
Fortwaynemobile saysIt might be cheaper for us to pile money together and bring gas from there to us, then buy gas at gas stations here. Anyone interested? It’s $6 a gallon here now Deep state/oil companies are not about to let us import from Venezuela.
It might be cheaper for us to pile money together and bring gas from there to us, then buy gas at gas stations here. Anyone interested? It’s $6 a gallon here now
LONDON (Reuters) -Russia said on Sunday that sovereign bond payments will depend on sanctions imposed by the West over the invasion of Ukraine, raising the spectre of its first major default on foreign bonds since the years following the 1917 Bolshevik revolution.Russia’s finance ministry said it would service and pay sovereign debts in full and on time but that payments could be hampered by the international sanctions.“The actual possibility of making such payments to non-residents will depend on the limiting measures introduced by foreign states in relation to the Russian Federation,” the finance ministry said in a statement.That raises the possibility of a technical default on debt by Russia after much of its $640 billion in reserves were frozen by the West after President Vladimir Putin ordered what Russia describes as a special military operation in Ukraine on Feb. 24.From now on, Russia will use roubles to make payments to residents on bonds denominated in foreign currency, the ministry said....Russia in 1998 defaulted on $40 billion in domestic debt and devalued the rouble under President Boris Yeltsin because it was effectively bankrupt after the Asian debt crisis and falling oil prices shook confidence in its short-term rouble debt.This time, Russia has the money but can’t pay because the reserves - the world’s fourth largest - that Putin ordered be built up for just such a crisis are frozen by the United States, European Union, Britain and Canada.It could be Russia’s first major debt default in more than a century. Even when the Soviet Union collapsed, Russia assumed its foreign debt.
Seize everything you can from the oligarchs. They will evt turn on fucktard Putin and have him assassinated. The US and Europe need to stop oil/gas purchases from Russia. Dont care if we have $10 dollar per gallon. Boykott anything from Russia until their economy is completely destroyed.
What about boycotting Russian wheat?
Dont care if we have $10 dollar per gallon.
(Reuters) -In bright sunshine, a long queue of shoppers snaked outside an IKEA store near Moscow late last week. Similar scenes were repeated across Russia as families rushed to spend their fast-depreciating roubles at the Swedish retailer which is exiting the crisis-hit country.Russians are bracing for an uncertain future of spiraling inflation, economic hardship and an even sharper squeeze on imported goods.The rouble lost around a third of its value last week, after unprecedented Western sanctions were imposed to punish Russia for invading Ukraine. The moves froze much of the central bank’s $640 billion in reserves and barred several banks from global payments system SWIFT, leaving the rouble in free-fall....While there is no palpable sign of panic, the wipe-out of rouble savings and the doubling of interest rates to 20% will squeeze mortgage holders and consumers.Financial conditions -- reflecting availability of credit in the economy -- have tightened brutally this year, which Oxford Economics predicted would shrink domestic demand by 11% by year end and raise unemployment by 1.9 percentage points in 2023.Zach Witlin, an analyst at Eurasia Group, notes sanctions are already hitting consumers via prices hikes and digital payments disruptions.While consumers are not directly targeted, “fear and caution are exaggerating the impact,” with the exit of foreign brands such as IKEA creating a “snowball effect,” he added.IMPORTS TO ISOLATIONCars, machinery and car parts comprised nearly half of Russia’s $293 billion imports last year, according to the Federal Customs Service.While only a few Russian companies are targeted by sanctions “all of them will feel the chilling effect,” said Matt Townsend, sanctions partner at law firm Allen & Overy. “This is why sanctions are a very effective measure to isolate a country.”The immediate economic shock will cause a 35% GDP contraction in the second quarter and a 7% decline in 2022, JPMorgan predicted. But “growing political and economic isolation will curtail Russia’s growth potential in years to come,” it added.That may come about if restrictions “limit the acquisition of technology needed to support Russia’s highest value industries,” RBC Global Asset Management warned.The Biden administration is preparing rules to curb Moscow’s ability to import smartphones, aircraft parts and auto components.But multinationals, from tech firms Apple and Microsoft to consumer goods producers Nike and Diageo, have severed links with Russia, meaning shoppers will have limited access to the consumer goods they have grown accustomed to over three decades.Chinese companies, so far staying put, could grab some market share but they too could fall prey to secondary sanctions as many of their products such as smartphones use U.S. origin technology.Some Russians are not staying to find out. Lidia, a freelance worker from Rostov said the money transfer curbs were complicating receiving payments from abroad.“The sanctions have hit me very hard. Prices are already up around 20%...It’s a fact that you already can’t buy some medicines. Things will get worse,” she said.“Today my family and I are leaving Russia.”
gabbar saysBd6r saysFortwaynemobile saysIt’s $6 a gallon here nowabout 3.30 around hereIf gas goes to $6/gallon, people will cut down on driving.It’s already there in California and public transportation in Los Angeles isn’t a viable option so we shall see.
If gas goes to $6/gallon, people will cut down on driving.
Shell to Stop All Purchases of Russian Crude OilBy Joe WoelfelUpdated March 8, 2022 9:51 am ET / Original March 8, 2022 5:49 am ET Shell said Tuesday it will stop all spot purchases of Russian crude oil, and also plans to shut its service stations, aviation fuels, and lubricants operations in Russia.“We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products like petrol and diesel—despite being made with security of supplies at the forefront of our thinking—was not the right one and we are sorry.”The oil giant reiterated that it would “commit profits from the limited, remaining amounts of Russian oil we will process to a dedicated fund.”Shell (ticker: SHEL) said it intends to withdraw from its “involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas and liquefied natural gas in a phased manner, aligned with new government guidance.”The company also said it was changing its crude oil supply chain to remove Russian volumes. “We will do this as fast as possible, but the physical location and availability of alternatives mean this could take weeks to complete and will lead to reduced throughput at some of our refineries.”Shell said last week it would end partnerships with Gazprom, the state-controlled energy company, and end its involvement in the Nord Stream 2 pipeline project.American depositary receipts of Shell were rising 3.4% Tuesday to $53.30.
Russian Tech Giant Yandex Says Might DefaultBy AFPMarch 4, 2022Russian tech giant Yandex warned Thursday it may default on its debt after it was suspended from trading on New York's digital stock exchange.Nasdaq and the New York Stock Exchange this week halted all listings of Russian companies until they explain how they will be impacted by sanctions imposed by the U.S. and its allies in the wake of Moscow's invasion of Ukraine.In a press release published Thursday, Yandex, which is legally headquartered in the Netherlands but has its main offices in Russia, said that it was not targeted by the sanctions."There are currently no regulatory restrictions on the ability of U.S., U.K. or EU persons to acquire and trade in Yandex's securities," it added.Nonetheless, the company, often called the "Russian Google" for its size and breadth of services, said that if it is suspended for more than five trading days, owners of certain bonds will legally be able to redeem their debt with interest."The Yandex group as a whole does not currently have sufficient resources to redeem the notes in full," the company said.Even if the company was able to secure financing to pay them in full, Yandex said such a large expenditure would "have a material adverse effect on our short-term financial position and liquidity and may affect our ability to meet our other obligations."The company added that it was exploring what financing options were available to it.Nasdaq, in a response to an AFP inquiry, said that the Yandex listing "remains halted."In 2021, Yandex earned about 356 billion rubles — about $4.77 billion at the December exchange rate.The company's search engine, which launched in 1997, is the largest of its kind in Russia, representing over 60% of the country's internet searches in the last quarter of 2021, according to the company.The group has diversified its products in recent years and now offers a ride hailing and grocery delivery service.
Russian tech giant Yandex warned Thursday it may default on its debt
One of the posters here was VERY concerned about rising food prices. Until it was pointed to him that Ukraine is one of the top exporters of aggro stuff in the world and fighting in the wheat field is not really conducive to good crop. The concern has immediately evaporated.
Eric Holder saysOne of the posters here was VERY concerned about rising food prices. Until it was pointed to him that Ukraine is one of the top exporters of aggro stuff in the world and fighting in the wheat field is not really conducive to good crop. The concern has immediately evaporated. Mariupol is under siege and it looks like Odessa is next. I imagine every truck in Ukraine is supporting the war effort, and their gas won't be cheap.
You can tell now when the hurricane winds of the captive MSM turn knee jerk in unison in a particular direction onto a target, that as a people we need the opposite.
KUTA, Indonesia (Reuters) - When Russian tourist Konstantin Ivanov tried to draw money from his home bank account at a cash machine on the Indonesian resort island of Bali, the transaction was blocked.Unprecedented sanctions against Russia’s banks over its invasion of Ukraine are taking a toll on its citizens overseas, who have been left scrambling to find cash or turn to crypto transactions to get by.“This has created a huge problem for us. We have been left completely stripped of our finances - its like they have been completely frozen and we cannot use them at all over here,” said Ivanov, 27, adding that he might have to look for a job in Indonesia.The Russian embassy in the capital Jakarta did not immediately respond to a request for comment.Bali is a popular holiday destination with Russian tourists, who flocked to the island by the tens of thousands before the pandemic and were among the first to return when borders partially reopened last year.About 1,150 Russians entered Indonesia in January 2022, according to data from the statistics bureau.Rifki Saldi Yanto, the manager of a local cafe, said he had noticed a decline in Russian customers in recent days and many now pay with cash instead of credit card.Meanwhile more than 7,000 Russians were stranded in Thailand, another popular beach destination because of flight cancellations, a rouble currency in free-fall and payment issues.
WASHINGTON (Reuters) - Russia and Belarus are edging close to default given the massive sanctions imposed against their economies by the United States and its allies over the war in Ukraine, the World Bank’s chief economist, Carmen Reinhart, told Reuters.The specter of Russia defaulting on $40 billion of external bonds - its first major such default since the years following the 1917 Bolshevik revolution - has loomed large over markets since a raft of sanctions and countermeasures by Moscow have largely cut the country out of global financial markets.“Both Russia and Belarus are in square default territory,” Reinhart said in an interview. “They’re not rated by the agencies as a selective default yet, but mighty close.”Fitch on Tuesday downgraded Russia’s sovereign rating by six notches further into junk territory to “C” from “B,” saying a default is imminent as sanctions and trade restrictions have undermined its willingness to service debt.Reinhart said financial sector repercussions had been limited thus far, but risks could emerge if European financial institutions were more exposed to Russian debt than assumed.Around half of Russia’s sovereign hard-currency bonds are held by foreign investors and Moscow must make $107 million in coupon payments on two bonds on March 16. Russian corporates have just under $100 billion in international bonds outstanding.Foreign banks have exposure of just over $121 billion to Russia with much of that concentrated in European lenders, according to data from the Bank of International Settlements
WASHINGTON (Reuters) - Russia and Belarus are edging close to default given the massive sanctions imposed against their economies by the United States and its allies over the war in Ukraine, the World Bank’s chief economist, Carmen Reinhart, told Reuters.
Around half of Russia’s sovereign hard-currency bonds are held by foreign investors and Moscow must make $107 million in coupon payments on two bonds on March 16. Russian corporates have just under $100 billion in international bonds outstanding.
March 9 (Reuters) - The United Arab Emirates (UAE) favors an oil production increase and will be encouraging OPEC to consider higher output, the UAE's ambassador to Washington said on Wednesday."We favor production increases and will be encouraging OPEC to consider higher production levels," Ambassador Yousuf Al Otaiba said in a statement tweeted by the UAE Embassy in Washington.U.S. Secretary of State Antony Blinken also said on Wednesday that the UAE was giving support for increased oil production.
RWSGFY saysAround half of Russia’s sovereign hard-currency bonds are held by foreign investors and Moscow must make $107 million in coupon payments on two bonds on March 16. Russian corporates have just under $100 billion in international bonds outstanding.China announced they will take Russian debt payments in RMB. Along with goods orders.Russian banks are joining China's UnionPay System and are already replacing debit/credit cards with that logo.Thanks to Outsourcing, Walmart, and Amazon.
RWSGFY saysWASHINGTON (Reuters) - Russia and Belarus are edging close to default given the massive sanctions imposed against their economies by the United States and its allies over the war in Ukraine, the World Bank’s chief economist, Carmen Reinhart, told Reuters.Too bad China and India DGAF and aren't participating, Germany and the EU are buying Russian Oil and Gas, and SWIFT payments are still functional for Sberbank.
Yes, too bad. But the night is young.
Bank run in Moscow:
Russia says China refuses to supply aircraft parts after sanctionsMarch 10 (Reuters) - China has refused to supply Russian airlines with aircraft parts, an official at Russia's aviation authority was quoted by Russian news agencies as saying on Thursday, after Boeing (BA.N) and Airbus (AIR.PA) halted supply of components.Russia's aviation sector is being squeezed by Western sanctions over the invasion of Ukraine, with Russia's foreign ministry warning this week that the safety of Russian passenger flights was under threat
President Biden is expected to announce Friday that the U.S., European Union and G7 countries are moving to revoke Russia's "most favored nation" trade status over its invasion of Ukraine.Bipartisan lawmakers have been calling on him to revoke the status, known as "permanent normal trade relations," with Russia. The favored status means that nations cannot discriminate in their treatment of their trading partners. The removal of the status means the U.S. and allies will be able to impose tariffs on Russian imports.Within the past few days, companies such as Starbucks, McDonald's, Hilton Worldwide Hotels, Coca-Cola and PepsiCo. have announced changes to their operations in Russia, decisions the White House says have been made by the companies, independent of the U.S. government.
I hope that the sanctions don't impact Russia too much. The world needs a counterbalance.
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