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  1. #526
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    I'll say it again because you're bit thick:

    Why do you think the RT article has no links to the Bloomberg one?

    Perhaps I could illustrate for you:

    "According to Bloomberg, Putin is a tiny-dicked, psychopathic war criminal".

  2. #527
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    Quote Originally Posted by harrybarracuda View Post
    "According to Bloomberg, Putin is a tiny-dicked, psychopathic war criminal".
    Is that a link to an RT article?

  3. #528
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by panama hat View Post
    Is that a link to an RT article?
    Apparently it doesn't matter, saying it makes it the truth in the wanketeer world.


  4. #529
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    Quote Originally Posted by harrybarracuda View Post
    Apparently it doesn't matter, saying it makes it the truth in the wanketeer world.
    So, yes. It is a link . . . clearly. Worth repeating . . .


    Quote Originally Posted by harrybarracuda View Post
    "According to Bloomberg, Putin is a tiny-dicked, psychopathic war criminal".
    FACT

  5. #530
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    According to CNN OhOh is a fucking nutter and should leave Teakdoor!

  6. #531
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    ^ Link?

    Oh, sorry . . . just saw it:
    Quote Originally Posted by DrWilly View Post
    According to CNN OhOh is a fucking nutter and should leave Teakdoor!

  7. #532
    Thailand Expat OhOh's Avatar
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    10 Aug, 2022 15:16 HomeBusiness News

    India ditches US dollar in Russia trade – Reuters

    New Delhi turns to Chinese yuan and Emirati dirham to pay for coal from sanction-hit country.

    "India’s imports of Russian coal increased dramatically in July with the South Asian nation switching to non-dollar payments to secure deals, Reuters reports. Moscow is trying to avoid dollar transactions amid US sanctions, describing the currency as ‘toxic.’In July, Russia became India’s third-largest coal supplier with imports surging by more than a fifth to a record 2.06 million tons compared to the previous month.

    In June, Indian buyers paid for at least 742,000 tons of Russian coal using currencies other than the US dollar, which is equal to 44% of the 1.7 million tons of Russian imports that month, the agency cites a summary of deals compiled by a trade source based in India using customs documents.

    In recent weeks, Indian steelmakers and cement manufacturers have purchased Russian coal using the UAE dirham, the Hong Kong dollar, the Chinese yuan and the euro, customs documents reviewed by the agency show.

    The Chinese yuan totaled 31% of the non-dollar payments for Russian coal last month, while the Hong Kong dollar accounted for 28%. The euro made up under a quarter and the Emirati dirham around one-sixth, according to data from the trade source.

    Last month, the Reserve Bank of India approved payments for commodities in the Indian rupee, a move New Delhi expects to further boost bilateral trade with Russia.

    The share of non-dollar transactions for Russian coal will increase as banks and other parties explore ways of cushioning themselves against any further tightening of sanctions, two traders told Reuters."

    India ditches US dollar in Russia trade – Reuters — RT Business News
    A tray full of GOLD is not worth a moment in time.

  8. #533
    Thailand Expat OhOh's Avatar
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    An old article but still relevant.

    Russia eyes $22 billion in windfall tax revenue from Gazprom amid skyrocketing natural gas prices


    Brian Evans

    Jul 5, 2022, 8:42 PM

    "

    • Russian lawmakers are poised to approve a temporary windfall tax on its state-run gas giant.
    • Gazprom would pay an extra 1.25 billion rubles, roughly $22 billion, from September to November.
    • The legislation comes as natural gas prices soar as Western customers turn away from Russian supplies.

    Russian lawmakers moved closer to approving a one-time windfall tax on its state-run energy giant as prices for natural gas have soared.

    A mineral extraction tax cleared the lower chamber of Russia's parliament but still needs approval from the upper chamber. It would bring in an additional 1.25 trillion rubles from September to November, or about $22 billion.

    The legislation comes as natural gas prices soar across the globe in response to Russia's invasion of Ukraine. European gas prices have skyrocketed in the five months since the outbreak of war, spurring a potential energy crisis as the EU moves to secure alternative supplies to wean off Russian dependence.
    But even as Western and European sanctions take aim at Moscow's exports, Gazprom is still enjoying exceptional profits from the rise in prices. Russia is earning more now than it did before its invasion of Ukraine.

    The windfall tax, if fully approved, will re-circulate proceeds from Gazprom to the government as opposed to shareholders. The Kremlin is the Gazprom's largest shareholder."

    Russia Eyes $22 Billion in Windfall Tax Revenue From Gas Giant Gazprom

  9. #534
    Thailand Expat harrybarracuda's Avatar
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    Bloomberg say Chinkystan is a bunch of wanky fucking parasites and no-one likes them.

    I read it on the interwebs.

  10. #535
    Thailand Expat OhOh's Avatar
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    A U.S. diplomat warns African countries against buying anything from Russia except grain and fertilizer.

    By
    Ruth Maclean

    Aug. 5, 2022

    "Ahead of a trip to Uganda and Ghana this week, the U.S. ambassador to the United Nations, Linda Thomas-Greenfield, said in an interview that it would be a “listening tour” and that she wanted to find solutions, not assign blame, over a food insecurity crisis intensifying on the African continent since Russia’s invasion of Ukraine.

    But after arriving in Uganda, she warned African countries that there were red lines they should not cross.

    “Countries can buy Russian agricultural products, including fertilizer and wheat,” Ms. Thomas-Greenfield said on Thursday, according to The Associated Press. But, she added, “if a country decides to engage with Russia, where there are sanctions, then they are breaking those sanctions.”

    Buying Russian oil could constitute breaking those sanctions. The U.S. banned imports of Russian oil and natural gas in March, and the European Union will ban most imports of Russian oil by the end of the year.

    “We caution countries not to break those sanctions,” Ms. Thomas-Greenfield said, because then “they stand the chance of having actions taken against them.”

    Most African countries have tried to stay well out of Russia’s fight with Ukraine. Nevertheless, they have suffered its consequences. Russia and Ukraine are major exporters of grain to African countries, and rising prices as a result of the war — compounded by droughts, conflict and the lingering economic effects of the pandemic — have hit families hard.

    Hundreds of millions of people in Africa do not have enough to eat. According to the humanitarian aid organization Alima, nearly a million people are at risk of dying in one region alone: the Sahel, a vast tract of land south of the Sahara.

    How effective Ms. Thomas-Greenfield’s warning will be is uncertain. Even if African countries are punished for buying Russian oil, some may decide it is a price worth paying. Staggering fuel price increases and shortages have already hit hard, and have driven food prices still higher.

    On a trip to four African countries last month, Russia’s foreign minister, Sergey V. Lavrov, denied any Russian responsibility for global food shortages, instead blaming Western sanctions on Russia for keeping its grain from reaching markets.

    Western officials have repeatedly said — and Ms. Thomas-Greenfield stressed before her Africa trip — that the sanctions do not bar exports of Russian agricultural products, and have issued specific reassurances that entities involved in such trade are not in violation.

    However, Russia’s message continues to circulate.

    After Ms. Thomas-Greenfield’s visit, Yoweri Museveni, the Ugandan president, said on Twitter,

    If they really want to help Africa, they should consider separating us from the sanctions in a war where we are not participating.”

    The post carried a picture of himself with Ms. Thomas-Greenfield


    https://www.nytimes.com/2022/08/05/world/europe/us-africa-russia-sanctions.html


    Way to go NaGastan, making friends by threatening them?

  11. #536
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    Quote Originally Posted by DrWilly View Post
    According to CNN OhOh is a fucking nutter and should leave Teakdoor!
    Really. What rules is he violating ? Stand down monkey brains

  12. #537
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    Quote Originally Posted by Backspin View Post
    Really. What rules is he violating ? Stand down monkey brains
    There's a link provided for you.

  13. #538
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by OhOh View Post
    A U.S. diplomat warns African countries against buying anything from Russia except grain and fertilizer.
    Sound advice really. Especially don't buy airliners or tea.

  14. #539
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    Russian Economy Contracts Sharply as War and Sanctions Take Hold

    The Russian economy contracted steeply in the second quarter as the country felt the brunt of the economic consequences of its war in Ukraine, in what experts believe to be the start of a yearslong downturn.

    The economy shrank 4 percent from April through June compared with a year earlier, the Russian statistics agency said on Friday. It is the first quarterly gross domestic product report to fully capture the change in the economy since the invasion of Ukraine in February. It was a sharp reversal from the first quarter, when the economy grew 3.5 percent.

    Western sanctions, which cut off Russia from about half of its $600 billion emergency stash of foreign currency and gold reserves, imposed steep restrictions on dealings with Russian banks and cut access to American technology, prompting hundreds of major Western corporations to pull out of the country.

    But even as imports to Russia dried up and financial transactions were blocked, forcing the country to default on its foreign debt, the Russian economy proved more resilient than some economists had initially expected, and the fall in G.D.P. reported on Friday was not as severe as some had expected in part because the country’s coffers were flush with energy revenue as global prices rose.

    Analysts, though, say the economic toll will grow heavier as Western nations increasingly turn away from Russian oil and gas, critical sources of export revenue.

    “We thought it would be a deep dive this year and then even out,” Laura Solanko, a senior adviser at the Bank of Finland Institute for Economies in Transition, said of the Russian economy. Instead, there has been a milder economic decline, but it will continue into next year, putting the economy in a shallower recession for two years, she said.

    Russia, a $1.5 trillion economy before the war started, moved quickly in the days after the invasion to mitigate the impact of sanctions. The central bank more than doubled the interest rate to 20 percent, severely restricted the flow of money out of the country, shut down stock trading on the Moscow Exchange and loosened regulations on banks so lending didn’t seize up. The government also increased social spending to support households and loans for businesses hurt by sanctions.

    The measures blunted some of the sanctions’ impact. And as the ruble rebounded, Russia’s finances benefited from high oil prices.

    “Russia withstood the initial sanction shock”and “has been relatively resilient so far,” said Dmitry Dolgin, the chief economist covering Russia at the Dutch bank ING. But, he noted, unless Russia manages to diversify its trade and finances, the economy will be weaker in the long term.

    Retail trade declined about 10 percent, the statistics agency said, while wholesale business activity fell 15 percent.

    Michael S. Bernstam, a research fellow at the Hoover Institution at Stanford University, said the data released on Friday were in line with other reports from Russia. He, too, expects the economy to deteriorate in the second half of this year, and then again in 2023.

    As the war drags on, many countries and companies will look to permanently end relationships with Russia and its domestic companies. Businesses will have trouble getting replacement parts for Western-made machines, and software will need updates. Russian companies will need to rearrange their supply chains as imports seize up.

    The prospects for Russia’s energy industry, central to the country’s economy, are deteriorating. The United States and Britain have already banned Russian oil imports, and the country’s oil output will fall further early next year when the full impact of a European Union ban on imports comes into effect. Russia would need to find customers for roughly 2.3 million barrels of crude and oil products a day, which is about 20 percent of its average output in 2022, according to the International Energy Agency.

    So far countries including India, China and Turkey have absorbed some of the lost trade from Europe and the United States, but it’s unclear how many new buyers can be found.

    Reliance on Russian natural gas is also being reduced. In the final week of June, total European Union gas imports from Russia were down 65 percent from a year earlier, according to a report by the European Central Bank. Some of these declines were forced on Europe because Russia has been cutting its supplies of gas. But European countries have ramped up efforts to find alternative sources and are, for example, quickly developing infrastructure for additional imports of liquefied natural gas.

    The economy will suffer as the “exhaustion of inventories of investment imports, enforcement of the E.U. oil embargo, higher financial pressure on households and their higher dependence on the state” take their toll, while the ability of the central bank and government to provide monetary and fiscal support is limited, Mr. Dolgin of ING wrote.

    Shortly after the invasion of Ukraine, inflation in Russia soared as households scrambled for goods they expected to become scarce. In July, inflation was running more than 15 percent, according to the Russian central bank. Already, though, there are signs inflation is slowing down, and as a result the central bank has slashed interest rates to 8 percent, lower than they were before the war.

    Last month, the bank said that business activity had not slowed as much as expected, but that the economic environment “remains challenging and continues to significantly constrain economic activity.”

    The bank forecast that the economy will shrink 4 percent to 6 percent this year, much less than it originally expected right after the start of the war. That 6 percent figure also matches the latest

    The economy will have a deeper contraction next year and not return to growth until 2025, the central bank said on Friday. The bank forecast that inflation would be 12 percent to 15 percent by the end of the year.

    In coming months, supply chain issues will present challenges, as businesses constrained by sanctions try to alter their supply chains to replenish stockpiles of finished and raw goods.

    “I don’t think the Russian economy is doing well at the moment,” Ms. Solanko said. But the idea that sanctions and the departure of companies from Russia would cause the economy to rapidly collapse was never realistic. “Economies just don’t vanish,” she said.

    https://www.nytimes.com/2022/08/12/b...onomy-gdp.html

  15. #540
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    Initially, it was forecast the Russian economy would contract 14-16% in 2022 under the impact of the 'crushing western sanctions'. Now, the Bloomberg prediction is around 6%. Nothing to sneeze at, but given the damage to the world economy in general, Europe in particular, the story remains the same. Sanctions do not work.

  16. #541
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    The damage to the world economy was happening before the invasion.

    You take the sanctions against Russia not damaging their economy as much as predicted (though still causing crushing damage for decades to come), as a win. Kool-aid.

  17. #542
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    The U.S 'put' since WW2...you have 2 choices ....'we will bomb you back to the Stone Age..or 'we will make your economy scream'...is being tested..big time.

  18. #543
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    It's a Lose/ Lose- hardly a good outcome for a rational person.

  19. #544
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    Quote Originally Posted by sabang View Post
    It's a Lose/ Lose- hardly a good outcome for a rational person.
    Maybe irrational Putin shouldn't have invaded then, doncha think?

  20. #545
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    Quote Originally Posted by sabang View Post
    It's a Lose/ Lose- hardly a good outcome for a rational person.
    Imagine if your hero hadn't invaded the place . . .

  21. #546
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    This war could and should have been avoided. ^^ No, I don't. An abject failure of diplomacy. More than one party at fault.

  22. #547
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    Quote Originally Posted by sabang View Post
    This war could and should have been avoided.
    Do fuck off.

    Quote Originally Posted by pickel View Post
    Maybe irrational Putin shouldn't have invaded then, doncha think?
    It is going to go down as the worst mistake he ever made, no doubt. Blame lies entirely on his lap.

  23. #548
    Thailand Expat harrybarracuda's Avatar
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    Quote Originally Posted by sabang View Post
    More than one party at fault.
    No, ONE party at fault.

    The one who invaded a sovereign nation. Twice.

  24. #549
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    Surprising....

    Worst-performing G7 economy revealed


    Second-quarter GDP shrank by more in the US than in the UK, Germany, France, Italy, Canada and Japan, data shows

    The US was the worst-performing of the Group of Seven most advanced Western economies in the second quarter of 2022, the latest data from the UK Office of National Statistics (ONS) showed on Friday.

    The ONS released the G7 comparison while also reporting that the British economy had contracted by 0.1% from April to June. The American economy dropped by 0.2% during the same period, according to the data.

    Canada’s economy reportedly had the strongest showing, growing by 1.1%. The Italian and French economies were also up, while Germany stagnated.

    Meanwhile, another G7 nation, Japan, is expected to report its GDP numbers on Monday, with an economist poll from FactSet Economics projecting growth of 0.8% quarterly, or 2.5% annualized.

    Worst-performing G7 economy revealed — RT Business News

  25. #550
    Thailand Expat OhOh's Avatar
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    Quote Originally Posted by harrybarracuda View Post
    The one who invaded a sovereign nation. Twice.
    This is a thread about sanctions.

    Although as you have, why don't you introduce the three wars, by NaGastan against a sovereign country into the thread and illustrate the economic success Iraq has undergone?

    Oh, you can't because the war hasn't stopped



    Timeline of the Gulf War (1990–1991)


    The timeline of the Gulf War details the dates of the major events of the 1990–1991 war.

    "It began with the Iraqi invasion of Kuwait on 2 August 1990 and ended with the Liberation of Kuwait by Coalition forces. Iraq subsequently agreed to the United Nations' demands on 28 February 1991.

    The ground war officially concluded with the signing of the armistice on 11 April 1991"


    https://en.wikipedia.org/wiki/Timeli...%E2%80%931991)

    Iraq War



    "The Iraq War[nb 1] was a protracted armed conflict in Iraq from 2003 to 2011 that began with the invasion of Iraq by the United States–led coalition that overthrew the Iraqi government of Saddam Hussein"

    https://en.wikipedia.org/wiki/Iraq_War


    War in Iraq (2013–2017)



    The War in Iraq was an armed conflict between Iraq and its allies and the Islamic State (also known as ISIS or ISIL) which began in 2013 and ended in December 2017."

    https://en.wikipedia.org/wiki/Iraq_War

    Although some would say this war has yet to be won.

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