Thread: Economic sanctions

From the WSJ actually, then republished in BP. damn commie propaganda. The sanctions are certainly working on Europe.

Originally Posted by sabang

It isn't my mates villa you idiot and considering you ain't gotta pot to piss in, the envy shines through. Don't let the green eyed monster consume you 'arry.

Do you find it strange that the US is now actually helping Russia with selected exports? Ever get the idea you have been kept in the dark about sooo many things?

Kept in the dark [regarding some].
You're being too nice, Sab....

Originally Posted by HuangLao

Kept in the dark [regarding some].
You're being too nice, Sab....

Get a bit closer and you can sniff his arse as well as kissing it Jeff.

Originally Posted by sabang

hobbling European manufacturers' ability to compete globally

Luckily, some have covered their backs by previously locating satellite plants in China.

A report released Monday showed Russian President Vladimir Putin made more money from oil exports during the first 100 days of his war in Ukraine than he spent on the conflict.

The Centre for Research on Energy and Clean Air (CREA), an independent research organization located in Finland, said it found that Russia brought in 93 billion euros over the first 100 days of the conflict, which converts to around $97 billion. Using this figure, Russia made approximately $1 billion a day exporting fossil fuels.

With crude oil alone, Russia brought in 46 billion euros ($48 billion), while pipeline gas made the country 24 billion euros ($25 billion). Oil products, liquefied natural gas and coal also brought in billions of dollars of revenue for Putin, according to CREA.

This fossil fuel money more than covers an estimate released last month on what Putin is spending on the war. Russian Ministry of Finance data showed that 628 billion rubles of Russia's federal budget in April were spent on national defense, which equals about 21 billion rubles—or more than $330 million—a day, The Moscow Times reported.

FULL- MSN

Originally Posted by sabang

Putin Is Making More on Oil Than He's Spending on Ukraine War

No surprise given military is using mostly existing assets. Even when those assets need to be replaced the cost will likely be less than export revenue.

Oh, my no-life stalker again. As reported by Newsweek, numptard.

15 Jun, 2022 15:17 HomeBusiness News

UAE bans exports of Indian wheat

Abu Dhabi will use grain supply for domestic use only.

UAE bans exports of Indian wheat — RT Business News

Originally Posted by OhOh

Serbia secures energy deal with sfh Russia

Wonderful news! They should send Lavrov to Serbia to .....




Oh.

Originally Posted by panama hat

Your stalker was reported on Newsweek?

Originally Posted by sabang

Putin Is Making More on Oil Than He's Spending on Ukraine War

Right because the war is Russia's only expense. Make no doubt that Russia is being bled. Whether you like it or not, that is the reality.

SPIEF-2022

16 Jun, 19:57

Only 11% of US companies have left Russian market, says American Chamber of Commerce

Mass media is covering the issue "as a disaster that is not actually happening," CEO Robert Agee pointed out

ST. PETERSBURG, June 16. /TASS/.

"Only 11% of American companies have suspended operations on the Russian market, said the President & CEO of the American Chamber of Commerce in Russia Robert Agee at the St. Petersburg International Economic Forum (SPIEF) on Thursday.

"About 85% of our companies have decided to stay in Russia. Only 11% have left the country, and another 4% are still thinking," he said.
Mass media is covering the issue "as a disaster that is not actually happening," Agee said.
"We are working closely with all Russian unions and associations, such as ASI (Agency for Strategic Initiatives), RSPP (Russian Union of Industrialists and Entrepreneurs), Delovaya Rossiya, and others. I believe the dialogue will remain," he concluded.

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World’. The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week are also going to be part of the SPIEF event. TASS serves as the event’s official photo hosting agency and the information partner."

https://tass.com/economy/1466181

^
Cue Bsnub to call you a lying piece of shit, a stooge, troll etc

Originally Posted by Backspin

I think more sanctions needed , no ?! ����

When did Canada start sanctioning Germany?

By Brian Swint
June 16, 2022 11:58 am ET



The Western alliance against Russia is at risk of breaking down the longer the war in Ukraine drags on and the faster inflation rises, a new economic assessment shows.

The U.S., the U.K. and eastern Europe appear to be the strongest supporters of Ukraine, but there are limits to how far leaders will go to drive Russia out of the territory it occupies, according to analysts at global investment bank RBC Capital Markets.

https://www.barrons.com/articles/inflation-west-ukraine-russia-war-economy-51655395008?siteid=yhoof2

Originally Posted by bsnub

The reality...

Attachment 87878

And that was after local dental treatment.

Originally Posted by panama hat

Luckily every single cent is sent to the war machine, eh NPT . . . and how much has the UK contributed to the Russian war machine?
You simply try too hard with your constant anti-EU idiocy.

Cringe . . .

The total of all imports of goods and services by the UK in 2021 from Russia was under 10 billion pounds. Services imported was under a billion pounds. Oil and gas was approx 40% or under 4 billion pounds which will be fazed out by December. That would leave Russian imports at under 5 billion pounds next year and with other sanctioned goods and services will most likely cut imports to under 2 billion pounds next year at best which is hardly comparable to the EU. Bearing in mind everybody including blind freddie have been telling the EU the dangers of dependence on Russian energy for years now, not anti EU just a fact.

Originally Posted by Hugh Cow

everybody including blind freddie

Is "blind Freddie" today's tag for the NaGastan "leader"?

Originally Posted by Hugh Cow

telling the EU the dangers of dependence on Russian energy for years now,

Pray tell, did importing companies have alternate suppliers to choose from, that are either less "dangerous" or who offered the same deals?

The decision to purchase Russian gas was decided by the importing countries, for they deduced, it was the best solution that fitted their needs.

Were the voices uttering dependence fears on Russian commodities, competing in supplying similar commodities?

Originally Posted by Hugh Cow

The total of all imports of goods and services by the UK in 2021 from Russia was under 10 billion pounds. Services imported was under a billion pounds. Oil and gas was approx 40% or under 4 billion pounds which will be fazed out by December. That would leave Russian imports at under 5 billion pounds next year and with other sanctioned goods and services will most likely cut imports to under 2 billion pounds next year at best which is hardly comparable to the EU. Bearing in mind everybody including blind freddie have been telling the EU the dangers of dependence on Russian energy for years now, not anti EU just a fact.

Oh yes, Puffy has really fucked up. Not only are countries actively seeking reliable energy partners, but you have two more entrants to NATO, and maybe more to come.

The conflict in Ukraine will have major strategic consequences for Chinese foreign policy in the Indo-Pacific. It will promote the deepening of Russian–Chinese economic cooperation that will make both countries more resilient to Western economic pressure. Long-term instability in Europe will make it more difficult for the United States to boost its Pacific presence for years to come with significant US financial and military resources being drawn toward supporting Ukraine.

The conflict has demonstrated that the West is not able to impose sanctions on a major economy without damaging its own stability. The war has also shown the effectiveness of the Russian nuclear deterrent, making even a limited Western intervention unthinkable.

China will be the main beneficiary of the Ukraine crisis. But this is not reflected in China’s political rhetoric which has been carefully calculated to avoid any major fallout with the European Union and other developed countries, while also maintaining close cooperation with Russia.

The official Chinese position has remained consistent with the statement made by Chinese Foreign Minister Wang Yi in February 2022 at the outbreak of the war: China is concerned with the violence and wants it to stop. It maintains that the territorial integrity and security interests of all parties need to be respected. China also maintains that NATO enlargement is partially responsible for the crisis.

On the economic front, China has seized the major strategic opportunities provided by the war. During the first four months of 2022, trade between Russia and China increased by 25.9 per cent. Russian exports to China grew by 37.8 per cent, to US$30.85 billion. The physical volume of natural gas exports also jumped 15 per cent.

China is in line to supplant the European Union as Russia’s main economic partner. The Chinese Ambassador to Russia Zhang Hanhui has called upon Chinese businesspeople to ‘fill the void’ left in the Russian market by outgoing Western businesses. Cooperation with China has contributed to Russia’s federal budget surplus between January–April 2022 despite the war. Maintaining this financial and economic stability appears to be Russia’s strategy as it continues to press in Ukraine.

By 2023, most or all bilateral trade is expected to be conducted in renminbi. Chinese companies and brands will likely dominate large segments of the Russian consumer market and will become Russia’s key industrial and technological partners. There is also a growing trend towards a large part of Russian trade being conducted with third countries in renminbi.

With the expected expansion of the logistical infrastructure, China will obtain a major source of strategic commodities. China will be able to procure these commodities at significant discounts because Russia will be isolated from many other markets and China will be using its own currency. This will significantly reduce the West’s ability to leverage economic pressure points against China.

Some of China’s top-tier global companies are visibly reducing their presence in Russia because secondary sanctions could affect their operations in international markets. But cooperation in many areas will be overtaken by second-tier corporations with limited or no global exposure. Such companies will still be powerful enough to operate in the Russian market. Their operations will be serviced by specialised banks with no exposure in the West, like in Iran.

Strategically, this transition — coupled with deep internal changes in the Russian political economy — will make Russia largely immune to economic warfare. For the foreseeable future, the West will have no other means to deter Russia in Europe except for costly military options. In turn, this will provide major strategic opportunities for China in the Pacific.

The military lessons of the war for China are too early and too difficult to assess based on available data. One characteristic of the Ukrainian conflict is an unprecedented scale of propaganda and misinformation from all sides.

But two clear lessons have emerged from the war so far. First, US and NATO allies will always try to avoid a direct military confrontation with a major nuclear power. Even if a power is fighting a full-scale war at their doorstep. Second, economic war on Russia has caused significant problems for Western economies, including rising inflationary pressures and falling growth rates. Any comparable actions against China, an economy ten times bigger, will devastate much of the world economy. This makes any such action extremely unlikely.

Vasily Kashin is Director of the Center for Comprehensive European and International Studies at the Higher School of Economics, Moscow.

Ukraine’s losses are China’s gains | East Asia Forum

Fred Weir, a Canadian journalist, has lived in Moscow since the late 1980's:-

Fred Weir - Wikipedia

Fred Weir writes:
Nobody, including me, expected to be writing these kinds of stories at this point in this awful war and sanctions orgy. I was, perhaps, better primed than most because I've seen this movie many times before. You are supposed to be looking at catastrophe and collapse, and instead your nose keeps pointing you to stories of survival and resilience.

I realize that nobody wants to hear this. The trolls who haunt my page will go nuts over this post. But even Russian inflation is declining this month [https://www.themoscowtimes.com/2022/06/10/explainer-a77952]. The rouble is stronger than it's been in years. And here's a fun fact: You can actually buy US dollars in Moscow banks, at a rate of about 57 roubles, and transfer them abroad. It's more difficult than it used to be, but we know it works because we've done it.

Of course, deflation has its dark side too, and no one is suggesting that all is well in Russia. But the remarkable common denominator in all these fresh stories about the unexpected staying power of the Russian economy is that they are all diligently trying to identify the bad news in almost every graph. Of course they find it, because every silver lining always has a cloud, but they've all finally come around to recognizing that the essential storyline here is about Russia coping, not collapsing.

The geopolitical impact of this, as this NYT story notes, plays right into the Kremlin's hands. Putin was laughing in a TV interview the other day over Biden's constant refrain of 'Putin's price hike'. He declared: "They named inflation after me!"

Like it or not, the West has turned this into an existential struggle of systems, and optics are awfully important. How can it be a good look that inflation in the country bombarded with the most intense sanctions in history is only slightly worse than in the countries that are supposedly dishing the punishment out? And coming down, while theirs is going up?

I heard a US Congressman say to a TV interviewer today that "the price of gas in my state is so high that it would be cheaper to buy cocaine and just run everywhere!"

The price of gas in Moscow is actually reducing a bit. Just a fact. Maybe, as the trolls on my page keep insisting, Russia will completely go to hell by September. And perhaps it will. Stay tuned.

https://www.nytimes.com/.../russia-economy-mcdonalds.html

https://m.facebook.com/story.php?story_fbid=10226980409712379&id=11181745 72

Originally Posted by harrybarracuda

Not only are countries actively seeking reliable energy partners

Any contracts signed (Germany) or spot market usage. The spot market is not a "reliable energy partner".

China's holdings of U.S. Treasuries skid to 12-year low; Japan also cuts holdings

By Gertrude Chavez-Dreyfuss

"NEW YORK, June 15 (Reuters)

China's holdings of U.S Treasuries tumbled in April to their lowest since May 2010, data showed on Wednesday, with Chinese investors likely cutting losses as Treasury prices fell after Federal Reserve officials signaled sizable rate hikes to temper soaring inflation.

"Chinese holdings dropped to $1.003 trillion in April, down $36.2 billion from $1.039 trillion the previous month, according to U.S. Treasury Department figures. China's stock of Treasuries in May 2010 was $843.7 billion, data showed.

The reduction in Treasury holdings may also have been aimed at diversifying China's foreign exchange holdings, analysts said.
The Chinese sales contributed to a drop in overall foreign holdings of Treasuries in April that helped propel yields higher. U.S. benchmark 10-year Treasury yields started April with a yield of 2.3895% , and surged roughly 55 basis points to 2.9375% by the end of the month.
Japan's holdings of U.S. Treasuries fell further in April to their lowest since January 2020, amid a persistent decline in the yen versus the dollar, which may have prompted Japanese investors to sell U.S. assets to benefit from the exchange rate.

Japanese holdings fell to $1.218 trillion in April, from $1.232 trillion in March. Japan remained the largest non-U.S. holder of Treasuries.

Overall, foreign holdings of Treasuries slid to 7.455 trillion, the lowest since April 2021, from $7.613 trillion in March.

On a transaction basis, U.S. Treasuries saw net foreign outflows of $1.152 billion in April, from net new foreign inflows of $48.795 billion in March. This was the first outflow since October 2021.

The Federal Reserve, at its policy meeting in March, raised benchmark interest rates by a quarter of a percentage point.
It lifted rates by 50 bps in May, but at the June policy meeting on Wednesday lifted rates by a hefty 75 bps to stem a disruptive surge in inflation. The Fed also projected a slowing economy and rising unemployment in the months to come. read more

In other asset classes, foreigners sold U.S. equities in April amounting to $7.1 billion, from net outflows of $94.338 billion in March, the largest since at least January 1978, when the Treasury Department started keeping track of this data. Foreign investors have sold stocks for four consecutive months.

U.S. corporate bonds, on the other hand, posted inflows in April of $22.587 billion, from March's $33.38 billion, the largest since March 2021. Foreigners were net buyers of U.S. corporate bonds for four straight months.

U.S. residents, meanwhile, decreased their holdings of long-term foreign securities, with net sales of $36.7 billion, data showed."

China'''s holdings of U.S. Treasuries skid to 12-year low; Japan also cuts holdings | Reuters