Yeah, I know, but with new piplines it is the volume which is new. That goes for other Asian markets, too.
Also:
Square this:
With this:
I’m not sure I saw anyone warning that the Ruble would hold its ground and even bounce back a degree a month in, before suddenly tumbling at a later date. Happy to be corrected, as I am a bit miffed that the sanctions haven’t more damage to their currency in the short term.
Like a fortress, really? When was the last time you have been to Russia?Russia built their economy like a fortress. It was built to withstand an initial shock. Bank runs didn't happen very much after week 1 because they started to ban it. They then banned people taking money out of the country, raised interest rates to 20%, and also limited the ability convert rubles into foreign currency within Russia itself. Then of course you have the Central Bank still having half of its reserves to prop up the currency when it falls, which is basically what they do every morning (I've been observing this daily for the last month, and the value always jumps a lot in the early morning before trading starts)
But I think what they didn't expect was the war to drag on and on and on. This changes the outlook for them significantly. Now they have to use more extreme measures to create more demand in the ruble, such as by asking people to pay for gas in rubles.
We have to be patient with the economic strategy. It will only work if we keep the sanctions hard for a long time. A few months of sanctions will not do them any great harm at all.
Like a fortress, really? When was the last time you have been to Russia?
Mate, they are sinking. People are depressed, can not access their hard currency accounts. Assets frozen, prices are rising and it is still just a beginning. Oligarchs are well pissed off, Russia's largest companies are losing value like crazy. Sane people there also realize that things will only get worse, while around half of the population still feel for and support the Great Vlad who is fighting against the Evil USA and their cronies.Not that recently but that's what I've been reading. It wasn't built on growth like normal economies, but rather the ability to withstand a huge shock. I guess in that sense we should have all seen this coming when they started to stockpile a feckton of gold and foreign currencies like yuan.
It's ok though, we learn. If we see them (or China) building up crypto, yuan, rupee and precious metals again in the future, while reducing USD and Euros, then we know someone is about to get a beating.
Mate, they are sinking. People are depressed, can not access their hard currency accounts. Assets frozen, prices are rising and it is still just a beginning. Oligarchs are well pissed off, Russia's largest companies are losing value hell lot. Sane people there also realize that things will only get worse, while around half of the population still feel for and support the Great Vlad who is fighting against the Evil USA and their cronies.
It will only get worse economically. Business are shutting down and leaving, people are losing their jobs. Construction dead, aviation and heavy industry are on their knees. Logistics are fecked while oil money is likely to drop further. Their people are fleeing in tens of thousands to countries with less income.Yes, it pisses the people off but it is also exactly why the ruble is staying firm in value. Ruble can't fall if you're not allowed to sell!
Putin doesn't care that the people are pissed off, if they get too loud he just sends his hatchet men to give them a good beating.
My understanding (and I’m by no means an economist so happy for someone to educate us all here) was they’d use their vast reserves to prop up the ruble whilst being very cautious with the stock market to avoid volatility. After that it was just a case of how long they can keep that up and eventually ride it out (countries lose interest, roll back sanctions, new trade deals etc.) or the economy tanks.I’m not sure I saw anyone warning that the Ruble would hold its ground and even bounce back a degree a month in, before suddenly tumbling at a later date. Happy to be corrected, as I am a bit miffed that the sanctions haven’t more damage to their currency in the short term.
It will only get worse economically. Business are shutting down and leaving, people are losing their jobs. Construction dead, aviation and heavy industry are on their knees. Logistics are fecked while oil money is likely to drop further. Their people are fleeing in tens of thousands to countries with less income.
Abramovich confirming.
How often have we to go through this? He was never close to Putin, under Putin his influence diminished. This distance also made Ukraine approach him to act as a mediator.Great way to disassociate himself from the Putin regime.
Very murky.
They will obviously never give back Crimea but I reckon when pushed they may eventually agree on neutrality of Donbas or even ‘give it back’ to Ukraine (doubtful).It buries the lede a bit with Russia wanting Donbas and Crimea.
The thefts of over 500 passenger planes is being called the biggest in history.
The thefts of over 500 passenger planes is being called the biggest in history.
I'm guessing they will struggle to get spare parts so it might not be too long till the Airbuses and Boeing's become hard to serviceHope they like flying in Russian-made death traps once their Airbuses and Boeings become unusable.
I'm guessing they will struggle to get spare parts so it might not be too long till the Airbuses and Boeing's become hard to service
IF this should be true it is amazing. The status of the Russian language might look like a simple thing on one hand, but its symbolic implications are huge.I thought that recognizing the Russian language as official language would be the easiest request to accept, considering that many Ukrainians speak Russian anyway and/or are bilingual.
Giving Dombas region is the most difficult request.
In the earlier weeks there were protests but I don't recall protests in Russia in the last week? Seemed to have died down.Terrible things happen in Mariupol. We have reports from multiple sources. And yet, there are no large scale protests inside Russia! Would you imagine what would happen in London if the British army was doing this today?
From this, I infer that the large majority of Russians support these actions of their government. I really feel stunned that there has been so little protest from Russians, either inside Russia or outside. Why does this happen? Do the majority of Russians consider Ukraine "a fake country" so they have the right to do whatever to it? But even if they believe that, why would anyone accept all this bombardment, the killings, the deportations? I really do not understand this.
I have asked this question before but I got no replies. Are there any Russians that can give us some perspective?
