War

Allowing ordinary Russians to keep their money safely in the west can be helpful. Make private sanctions apply to those with power or corrupt connections to the government and let the Russians know it. Where are they gonna put their money and how are they gonna get it there?

Currency collapse and capital withdrawal from Russia - Russian media The Moscow Times

A failed mutiny of Wagner PMC under the leadership of Yevgeny Prigozhin, which came as close as 200 km to Moscow, led to serious consequences for the Russian economy. As a result of the rebellion, a large-scale withdrawal of capital from the Russian banking system was observed.

According to the Central Bank of the Russian Federation, foreign currency deposits in Russian banks fell by $9.1bn in June. This led to a drop in the total amount of currency held by individuals and legal entities in the Russian banking system to $152.4bn - a new low since 2008. Experts point out that the sharp decline in foreign currency deposits directly indicates a powerful outflow of capital from the country.

Reduction in the supply of currency was one of the reasons for the collapse of the ruble after Wagner PMC rebellion. The ruble reached new lows since the start of the war, exceeding the mark of 102 rubles per euro and almost 94 rubles per dollar. The Bank of Russia stated in its monthly review that the main reason for the devaluation was a reduction in the supply of currency. The largest exporters also reduced their exchange sales in June by 23%, selling $7bn less than in May.

The situation with capital withdrawal and currency collapse had a negative impact on Russia's balance of payments. According to the data of the Central Bank of Russia, in April-June the country received only $5.4bn of balance of payments surplus, which is 14 times or 93% less than in the same period a year earlier. If we compare it with the first quarter of this year, the economy's notional foreign exchange earnings fell almost threefold.

Analysts attribute the fall in the balance of payments to Russian oil quotations, which continue to remain low. Discounts on Russian oil, which is priced at less than $50 a barrel, have reduced the economy's export earnings by $25bn, according to Goldman Sachs estimates.

Deterioration of the balance of foreign trade also plays a negative role in the Russian economy. Energy sanctions are becoming more significant, while domestic demand for imports is growing. Alexander Isakov, chief Russia economist at Bloomberg Economics, says that this reduces the ability to channel capital to finance infrastructure projects needed to overcome the effects of sanctions. Thus, the Russian authorities and economy find themselves in a quandary.


https://twitter.com/x/status/1679457098831200263
 
Ukraine will legalise cannabis to help war wounded cope with trauma
The overwhelming support for marijuana for medical use marks a turnaround in attitudes towards the drug since the Russian invasion

www.telegraph.co.uk

Ukraine will legalise cannabis to help war wounded cope with trauma

The overwhelming support for marijuana for medical use marks a turnaround in attitudes towards the drug since the Russian invasion
www.telegraph.co.uk www.telegraph.co.uk
 
go go kid said:
boys is the correct term, there sending kids out to battle with oversized uniforms and very little training if any anf little in the way of field food suplies or tack
Click to expand...
It's pretty sad for those kids, and will be even sadder for their families.
All they have to do is quit showing up. If they all quit showing up for draft calls, what will russia do, arrest 100s of thousands of men? they don't have that many police left, that aren't in Ukraine or dead.
 
Fogdog said:
seems a bit exaggerated.
Click to expand...
Plus how much of it is actually still usuable. And why is he telling the minister of defense “here’s the ammo” after the defense ministry found and took it already.

cannabineer said:
Boycott these companies’ products

Click to expand...

Heineken easy to boycott for me, I avoid it regardless. And Oreos are just abominable. But Unilever… jfc… since 2020 British instead of British/Dutch but everything in NL in major grocery chains is Unilever. Not literally everything but most of the premium / non-lowbudget brands. It’s the stuff that’s not actually better but costs more because of marketing expenses like tv commercials (the main reason I avoid it). Many household names. Popularity took a hit already, because of the high inflation and Unilever making billions extra and still raising prices many people switched to cheaper alternatives.

Looks like the news hasn’t been covered as extensively here as it should, few articles in major newspapers a week ago, some a few months ago, some last year. Unilever's position is that not remaining owner means Russia will be owner, no money going in or out Russia. Ukraine's position is the Russian division is paying tax in Russia and with that supports the war. My position is that there's a web of businesses across several countries that can be linked back to company's in Britain and NL and that Unilever and its shareholders are powerful elites. My position cause I like to side with facts. They're trying to wait it out so they can continue doing business as usual or sell it after the war.
 
You must log in or register to reply here.
Back
Top