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It does. It's the biggest and almost exclusive data source about banking system.
And it's crippling effects are blown out of proportions. It will hurt of course. But ultimately as i've written just now while Europe, China and UK&US as well buy russian gas and oil there is little they can do to hurt Russia economically. For example, 4 years after sanctions and Russia still has more than 400 billions in international reserves.
Ultimately, its the price of oil that will hurt the Russian economy the most. If 50% or so if Russian funds come from the sale of oil and gas and the prices remain depressed, then that's bad for Putin and the Russian state. Everything was great when oil was at 100-110, but recently it has been between 30-65 and there's a good chance we are going back to the 40s soon, so that will hurt. When you combine that with sanctions and other means then that is not a good thing for Putin.