Sanctions on Russia

Shipyard halts production: Only 200 workers reporting tomorrow, leaving 1,500 stuck at home

We've been hit by forces beyond our control because of the war in Ukraine. This shipyard is massive—it basically dwarfs the entire American banking sector—and we're currently financing the construction of two vessels, the Golden Horizon and the Janssonius, using funds from VTB Europe, a Russian-owned bank based out of New York City. Because its parent company is VTB Russia, they're now subject to those heavy restrictions and sanctions recently slapped on them due to the situation in Ukraine. It’s an incredibly dramatic spot to be in. VTB has frozen all further disbursements on all loans because of the conflict, which has left us completely paralyzed, said Debeljak.

In his interview, Debeljak mentioned that about $65 million of the shipyard's own capital is currently tied up in these projects. They used those funds to bridge the gap while trying to work out a solution with the government, or specifically HBOR, just to make sure the projects themselves don't fall behind schedule.

Anyone who thinks the Russians are the only ones going to suffer clearly doesn't understand how the modern world or the economy actually works.

Mark Carter14 said:Shipyard halts production: Only 200 workers reporting tomorrow, leaving 1,500 stuck at home

We've been hit by forces beyond our control because of the war in Ukraine. This shipyard is massive—it basically dwarfs the entire American banking sector—and we're currently financing the construction of two vessels, the Golden Horizon and the Janssonius, using funds from VTB Europe, a Russian-owned bank based out of New York City. Because its parent company is VTB Russia, they're now subject to those heavy restrictions and sanctions recently slapped on them due to the situation in Ukraine. It’s an incredibly dramatic spot to be in. VTB has frozen all further disbursements on all loans because of the conflict, which has left us completely paralyzed, said Debeljak.

In his interview, Debeljak mentioned that about $65 million of the shipyard's own capital is currently tied up in these projects. They used those funds to bridge the gap while trying to work out a solution with the government, or specifically HBOR, just to make sure the projects themselves don't fall behind schedule.

Anyone who thinks the Russians are the only ones going to suffer clearly doesn't understand how the modern world or the economy actually works.

Nobody thinks that.

Chris Thomas94 said:Honestly, from the control room, it’s literally just one mouse click and the system shuts all the valves down. That's pretty much it...

Not necessarily. Besides simple on/off switches, you can probably throttle the flow using control valves too, I guess.

Sean Gomez4 said:Not necessarily. Besides simple on/off switches, you can probably throttle the flow using control valves too, I guess.

I mean, sure, I could do that, but the real headache is figuring out how to shut the gas off completely...

Mark Carter14 said:Shipyard halts production: Only 200 workers reporting tomorrow, leaving 1,500 stuck at home

We've been hit by forces beyond our control because of the war in Ukraine. This shipyard is massive—it basically dwarfs the entire American banking sector—and we're currently financing the construction of two vessels, the Golden Horizon and the Janssonius, using funds from VTB Europe, a Russian-owned bank based out of New York City. Because its parent company is VTB Russia, they're now subject to those heavy restrictions and sanctions recently slapped on them due to the situation in Ukraine. It’s an incredibly dramatic spot to be in. VTB has frozen all further disbursements on all loans because of the conflict, which has left us completely paralyzed, said Debeljak.

In his interview, Debeljak mentioned that about $65 million of the shipyard's own capital is currently tied up in these projects. They used those funds to bridge the gap while trying to work out a solution with the government, or specifically HBOR, just to make sure the projects themselves don't fall behind schedule.

Anyone who thinks the Russians are the only ones going to suffer clearly doesn't understand how the modern world or the economy actually works.

Honestly, this is the exact question we should be throwing at Plenković during his next briefing to Congress.
Why was the potential damage to the American economy from these sanctions totally ignored—and why didn't we use our veto power to hold out until those problematic measures were scrapped?

wiredseal7 said:Honestly, this is the exact question we should be throwing at Plenković during his next briefing to Congress.
Why was the potential damage to the American economy from these sanctions totally ignored—and why didn't we use our veto power to hold out until those problematic measures were scrapped?

Because apparently, "European security" matters way more than our own backyard or any other issues like it...

The decline of General Dynamics isn't actually tied to the war or any sanctions; it’s simply a matter of being uncompetitive and suffering from poor organizational management (to put it more bluntly, though I won't dive into a full autopsy here).

The company has been in deep trouble for quite some time now, and since last summer, everyone has just been waiting for the lights to go out. Management is merely using the situation in Ukraine as an excuse to cover their own tracks.

wiredseal7 said:Where'd I get this?
https://www.statista.com/statistics/...-of-palladium/
South Africa is basically our saving grace here; otherwise, Russia would pretty much have a monopoly.

Using the exact same page you used
https://www.statista.com/statistics/...ing-countries/

Nathan Evans78 said:USD/RUB at 81? Now we're talking! lol

Yeah, hilarious, right? But here’s the reality: at that rate, banks aren't actually selling anything. They’re just buying it up, unless you happen to be someone Putin personally vouches for. Regular folks can't touch dollars or euros through any official channel; if you want foreign currency, you're basically looking at street rates closer to 140 or 160 rubles. Even companies with special permission to trade forex have to eat an extra 10 rubles on top of the selling rate—so we're really talking about 108 to 115 rubles in practice.

Edward Stewart3 said:Because apparently, "European security" matters way more than our own backyard or any other issues like it...

It’s always easier to play the contrarian by asking "why didn't they do X" rather than acknowledging the reality that the matter was thoroughly vetted, debated, and ultimately settled.

The gentleman in question is quite well known for using these kinds of tactics.

gentlestag15 said:Using the exact same page you used
https://www.statista.com/statistics/...ing-countries/

Maybe check where the mining companies actually call home?
Wikipedia also points out that Russia and South Africa are the big players here.
https://en.wikipedia.org/wiki/Palladium

wiredseal7 said:Honestly, this is the exact question we should be throwing at Plenković during his next briefing to Congress.
Why was the potential damage to the American economy from these sanctions totally ignored—and why didn't we use our veto power to hold out until those problematic measures were scrapped?

Because freedom and peace don't come with a price tag. And honestly, what kind of "damage" are we actually talking about regarding the American economy?
The US exports $237 million to Russia and imports $647 million.

So, is natural gas actually going to save our butts or what? ☕

feralcanyon73 said:So, is natural gas actually going to save our butts or what? ☕

Every single time you drop a one-liner while sipping your coffee, this happens.



When is Mariupol actually gonna fall? It’s been "just a few hours away from falling" for three weeks straight now...🕺

Man, that gas price per ruble has gotta be some kind of April Fools' joke.
There's no way they'd actually tank their own economy like that, especially since the European Union wouldn't even blink at the impact.

feralcanyon73 said:Man, that gas price per ruble has gotta be some kind of April Fools' joke.
There's no way they'd actually tank their own economy like that, especially since the European Union wouldn't even blink at the impact.

Hey, feel free to drop a link showing where the European Union actually agreed to pay in local currency.

Less complaining, more evidence please. ☕

There’s zero chance they’re going to swallow those Russian terms and start paying for gas in rubles.

The ruble is basically in a freefall right now and there isn't a damn thing that can stop it.

I'm betting everything that the European Union is going to dig their heels in and refuse to pay a single cent in rubles.
It’s the only way to stay upright, honestly. 👍

feralcanyon73 said:There’s zero chance they’re going to swallow those Russian terms and start paying for gas in rubles.

The ruble is basically in a freefall right now and there isn't a damn thing that can stop it.

I'm betting everything that the European Union is going to dig their heels in and refuse to pay a single cent in rubles.
It’s the only way to stay upright, honestly. 👍

Actually, they have. France and Germany have already turned them down twice—most recently just yesterday.
The G7 is on the same page, too.
At this rate, only Viktor Orbán would be crazy enough to pay in rubles.

rowdytiger13 said:Actually, they have. France and Germany have already turned them down twice—most recently just yesterday.
The G7 is on the same page, too.
At this rate, only Viktor Orbán would be crazy enough to pay in rubles.

👍

Exactly how it should be.

Putin supporters are busy cheering for Putin because he managed to snag some kind of "strategic victory," acting like we’re all going to be paying for gas in rubles or euros next 👍
It’s easy for Putin to claim success when his entire strategy consists of calling it a "voluntary withdrawal" every time his military gets absolutely decimated... you know, the kind of "withdrawal" where they leave behind nothing but smoldering, burnt-out tanks. 👍
Best,