Sanctions on Russia

feralcanyon73 said:Has the Euro finally hit a 1:1000 ratio against the dollar?
Let's see if those forum economists actually knew what they were talking about.

Hard to say. All I know is that Russia is getting rid of the Ruble in Ukraine.

feralcanyon73 said:Has the Euro finally hit a 1:1000 ratio against the dollar?
Let's see if those forum economists actually knew what they were talking about.

Look, thanks to capital controls, that strong ruble is actually helping blunt the blow of sudden inflation. Most of the current monetary policy is just theater—purely performative—but since we're basically in a war footing, the impact on industrial exporters isn't even that massive. Plus, there are enough loopholes in the sanctions against Russia that they’re still pulling in decent cash and managing to service their foreign debts.

On the black market (on Telegram, for instance), Russians are willing to shell out anywhere from 130 to 150 rubles for a single dollar, depending on where you are and how much demand there is at the moment.

Once currency trading moves underground, you start seeing more crime and corruption creeping in. It's predictable.

But as far as a total meltdown? Not seeing it just yet.

Susan Walker25 said:Oh, really?
I don't see much of a difference when it comes to their political playbook.

There's definitely a difference between the USSR back in the '60s and Russia today.

The USSR and Russia feel pretty much like the same thing to me; back then, every single country in the USSR was just a puppet controlled by Russia.

feralcanyon73 said:Has the Euro finally hit a 1:1000 ratio against the dollar?
Let's see if those forum economists actually knew what they were talking about.

It finally happened. I mean, trying to buy $1 million worth of Rubles right now would be impossible at any reasonable exchange rate. And let's face it, Putin's low-level bureaucrats couldn't pull off a massive currency shift like that even if they tried.

Good grief, I just can't wrap my head around how they expect to fight any kind of war—even if Europe were to start pumping an extra $10 billion a day their way—when their military expertise is being absolutely shredded by the "experts" over on the forums.

The Russian oligarchs are living on bread and water while the soldiers can barely afford socks. They’ve got more dead generals than living ones, and even a bit of rain seems to wreck their entire strategy, yet everyone is still talking about this massive offensive toward Chisinau. What are they going to use to win? Stones and pitchforks? 🙏

George Robinson43 said:Honestly, I think Russia is just bluffing at this point.
They cut off gas supplies to Poland right after they filled up their storage tanks and got ready to ditch Russian gas, and they did the same to Bulgaria, where everything should be connecting via pipeline in Greece within two months.

If they actually had any nerve, they would have shut off the tap to Germany the moment those guys announced they were sending tanks.

Exactly. Germany uses about 30% of the total gas flowing from Russia into the EU.
If they pulled the plug on them, the immediate backlash would be a shutdown of all pipelines—because let's face it, prices would skyrocket anyway.
And if that happened, Putin would be running for the hills.
Even though high prices technically favor Russia, they end up selling less volume while pulling in the same—if not more—cash.

analogbear5 said:There's definitely a difference between the USSR back in the '60s and Russia today.

A minor distinction, perhaps. There was no internet back in the '60s. ☕

dustyowl29 said:Exactly. Germany uses about 30% of the total gas flowing from Russia into the EU.
If they pulled the plug on them, the immediate backlash would be a shutdown of all pipelines—because let's face it, prices would skyrocket anyway.
And if that happened, Putin would be running for the hills.
Even though high prices technically favor Russia, they end up selling less volume while pulling in the same—if not more—cash.

Russia provides gas based on the prices set by earlier contracts

feralcanyon73 said:Has the Euro finally hit a 1:1000 ratio against the dollar?
Let's see if those forum economists actually knew what they were talking about.

Look, you just don't get it. When the rate hit 140 to the dollar, everyone was celebrating because they thought Russia was collapsing. Then, when it swung back to 75-80, the celebrations started all over again because people claimed it was just an American tactic to scoop up cheap currency. Honestly, even with an economics degree, wouldn't you have seen through that logic? 😵 👍

All I know for sure is that someone out there is making a massive fortune.

electrictrucker82 said:Look, you just don't get it. When the rate hit 140 to the dollar, everyone was celebrating because they thought Russia was collapsing. Then, when it swung back to 75-80, the celebrations started all over again because people claimed it was just an American tactic to scoop up cheap currency. Honestly, even with an economics degree, wouldn't you have seen through that logic? 😵 👍

All I know for sure is that someone out there is making a massive fortune.

Russia is still circling the drain.

It looks like Enijo doesn't have a dedicated department for virtue signaling. These guys actually intend to pay for gas in rubles. 🤦

https://www.bloomberg.com/news/artic...premium-europe

Four companies have already settled up in rubles, and ten others have gone ahead and opened ruble accounts over at JPMorgan Chase.

Nathan Evans78 said:It looks like Enijo doesn't have a dedicated department for virtue signaling. These guys actually intend to pay for gas in rubles. 🤦

https://www.bloomberg.com/news/artic...premium-europe

Just because they're open to the idea and asking the European Union for clarification on sanctions doesn't mean they actually want to do it.

I'm betting both ExxonMobil and NextEra Energy will settle up.

There’s no more room to scream about contract violations now. I wonder what Ursula von der Leyen has to say about that.

Some guy here is completely lost:

Russia’s gas payments system, which involves setting up accounts at JPMorgan Chase to convert euros or dollars into rubles, provides enough flexibility to potentially keep gas purchases moving.

In their advisory note, the Commission Said that if buyers of Russian gas confirmed Payment was complete once They Had deposited euros, rather than waiting until those euros were actually swapped for rubles, it wouldn't constitute a sanctions violation.

What exactly makes this a new payment system if you're still just depositing euros? 😕

Either that, or the Reuters journalists are just clueless.

If the bill counts as paid just by dropping euros into the account, then we aren't breaking any sanctions. But—if you consider it "paid" only after those euros get converted... then yeah, that’s a violation.

Christian Torres3 said:Russia is still circling the drain.

Maybe you should send them a letter just so they can finally face reality. 👍

electrictrucker82 said:Maybe you should send them a letter just so they can finally face reality. 👍

Honestly, I don't give a damn whether they're aware of it or not.

analogbear5 said:If the bill counts as paid just by dropping euros into the account, then we aren't breaking any sanctions. But—if you consider it "paid" only after those euros get converted... then yeah, that’s a violation.

So what actually changed compared to before 🤷? What's the point of all these articles?