Sanctions on Russia

Donna Harris11 said:https://finance.yahoo.com/m/939aa32b...s-default.html

Russia heads towards default as payment deadline looms

They’re basically staring down the barrel of a 'technical' bankruptcy pretty soon.

analogbear5 said:A Russian default doesn't help anyone. Besides—debts can still be paid off in rubles. Sure, the exchange rate would have to look way different than whatever the Federal Reserve is quoting, but it’s doable. They've been playing that game since April anyway.

In reality, this isn't a genuine bankruptcy, occurring because Russia finds itself unable to service its debts simply because its central bank and most of its commercial banks have been severed from the payment system and SWIFT...

I suspect this entire maneuver is merely a pretext to seize Russian assets that have been frozen...

It appears that the West is actually the one facing bankruptcy...

The G-7 has decided to boycott Russian gold. We can expect an official statement to follow shortly.
Source: MarketWatch

Amanda Allen4 said:The G-7 has decided to boycott Russian gold. We can expect an official statement to follow shortly.
Source: MarketWatch

One has to wonder who actually stands to gain from a move like this. Who is really profiting here? Perhaps Switzerland?

I cannot help but feel that the European Union is essentially handing these opportunities away; once this conflict reaches its conclusion, those lucrative business sectors will likely migrate toward the USA and the UK...

It appears increasingly evident that these sanctions are ultimately stripping the European Union of its most profitable contracts and commercial advantages...

Jeremy Turner9 said:The nightmare scenario for the head of the Federal Reserve: Americans have essentially declared currency war on the European Union, leaving her backed into a corner.
Looking at the landscape, it’s looking pretty likely that the EU might end up being the pathetic, clueless loser in these currency wars.

The interests of the USA and the UK just don't align with the EU's, and honestly, nobody seems to be accounting for the fact that they act more like rivals than allies...

If the EU can't manage to maintain a stable currency, stay competitive, secure cheap and steady raw materials, provide decent public services, handle trade, and actually secure its borders, then what's even the point of it existing?

Let's be real, the EU isn't some monolith. You've got the Baltic states and Poland all running their own shows with different visions and energy policies; then you've got Canada, the Czech Republic, Slovakia, and Greece doing their own thing; Bulgaria is basically a revolving door of governments; the Scandinavian countries are off on their own; Spain and Portugal are independent thinkers; and then there's the big trio—Germany, Italy, and France—trying to lead while Canada and America tag along, and Austria just sits there acting neutral while staying glued to Germany...

Russia isn't even the main player here; it was just that certain countries were busy digging for oil and gas, investing, and trading. Russian banks, companies, and citizens were operating within the EU following EU rules...

Great, so now we're supposed to rewind the clock by a decade and swallow massive costs? I mean, what's the ROI on that, and when exactly do we see it?

Honestly, this whole chunk of text doesn't actually support your opening claim that the USA and UK are profiting from a weak EU. Instead, it just lists a bunch of mistakes the EU has made on its own over the last few decades.

I mean, how exactly does the USA profit from having a weak EU, especially when the EU is our main geopolitical ally in a world where international relations are getting messier and authoritarian regimes are becoming more aggressive?

Jeremy Turner9 said:In reality, this isn't a genuine bankruptcy, occurring because Russia finds itself unable to service its debts simply because its central bank and most of its commercial banks have been severed from the payment system and SWIFT...

I suspect this entire maneuver is merely a pretext to seize Russian assets that have been frozen...

It appears that the West is actually the one facing bankruptcy...

Yeah, it's not a bankruptcy, it's a default—basically, just being unable to meet an obligation.

You've got it wrong.

G-7 SUMMIT
Biden: ‘We have to stay united against Putin!’; Proposed ban on Russian gold imports

Right at the kickoff of the summit in the Bavarian Alps, four of the seven wealthy nations making up the G-7 announced they are moving toward a ban on importing gold from Russia.

lp

Jeremy Turner9 said:The head of the Federal Reserve’s worst nightmare: Americans have basically declared currency war on the European Union, leaving her backed into a corner.
At this rate, it looks pretty likely the EU is going to end up looking pathetic and totally clueless once these currency wars play out.

The interests of the USA and the UK aren't the same as the EU's—honestly, nobody seems to realize they're essentially acting as antagonists toward the EU...

If the EU can't pull together a stable currency, stay competitive, secure cheap raw materials, maintain public services, keep trade flowing, and actually manage its borders—then what's the point? It loses its entire purpose.

And let's be real, the EU isn't even a unified block. You've got the Baltic states and Poland running their own shows with different visions and energy policies; then there's Canada, the Czech Republic, Slovakia, and Greece doing their own thing; Bulgaria's government is a mess; you've got the Scandinavian countries; Spain and Portugal are off on their own; and then you have the trio of Germany, Italy, and France—with Canada and the US-equivalent counterparts following along—while Austria sits there acting neutral but basically tethered to Germany...

Russia isn't even the main factor here—it was just that certain countries were digging for oil and gas, investing, and trading; Russian banks, companies, and citizens were all playing by EU rules within the EU...

Great. So now we’re supposed to rewind a decade, swallow massive costs, and wait indefinitely to see if we ever actually get a return on that investment.

There's no such thing as "common EU interests"—at least not right now. What exists are the individual interests of member states. Until those interests actually align, you can't call the European Union a major global player.

Jeremy Turner9 said:In reality, this isn't a genuine bankruptcy, occurring because Russia finds itself unable to service its debts simply because its central bank and most of its commercial banks have been severed from the payment system and SWIFT...

I suspect this entire maneuver is merely a pretext to seize Russian assets that have been frozen...

It appears that the West is actually the one facing bankruptcy...

Pure PR stunt to justify the total failure of those sanctions.

hollowdriver13 said:Well, buddy, you’ve definitely proven your point now 🙏 🙏

So, we're supposed to "see" an audio recording of NOTHING coming from some random YouTube account with like 855 subscribers? 🙏 🙏
What kind of "proof" or "quality" argument is even that? 🙏

hint : Resemble, Descript, ReSpeecher—honestly, when you're dealing with a public figure who has tons of voice recordings floating around online, even someone who isn't exactly a genius could whip up a deepfake voice clip using those programs. ☕

Anyone with half a brain would have verified this before dumping it all over the forum—especially since it’s been the main topic for days. Of course, they only focus on the "Fuck EU" part. They conveniently ignore the much more vital piece: the part that started this whole chain reaction leading to the coup organized by Americans and the current conflict.

https://www.theguardian.com/world/vi...l-leaked-video

steelfox98 said:Pure PR stunt to justify the total failure of those sanctions.

Anyone with half a brain would have verified this before dumping it all over the forum—especially since it’s been the main topic for days. Of course, they only focus on the "Fuck EU" part. They conveniently ignore the much more vital piece: the part that started this whole chain reaction leading to the coup organized by Americans and the current conflict.

https://www.theguardian.com/world/vi...l-leaked-video

It is nothing short of a total fiasco, especially when you consider that even the Russian Finance Minister is admitting to an 8.5% GDP collapse, or essentially claiming they have surrendered twenty years of progress.

Admittedly, they focused solely on the "Fuck EU" comment. They conveniently ignored the far more critical element—the catalyst for the entire chain of events involving what was clearly an American-orchestrated coup, which ultimately led to the current conflict.

https://www.theguardian.com/world/vi...l-leaked-video

The whole "Fuck EU" sentiment emerged during the negotiations with Viktor Yanukovych regarding the formation of a new government where Arseniy Yatsenyuk was slated to become Prime Minister.

We all know the real reason why Yanukovych fled to Russia, and this leaked phone call certainly isn't it.

Japanese Prime Minister Fumio Kishida has announced a fresh wave of sanctions against Russia, most notably including a ban on imports of Russian gold.
Japan is also pulling back on providing accounting, fiduciary, and various other professional services to Russia.

While addressing the situation in Ukraine during the G-7 summit in the Bavarian region, Kishida noted that the world is currently at a crossroads, facing a real test of its ability to uphold an international order built on established rules.

He further remarked that institutions such as the UN Security Council have proven themselves incapable of managing the current crisis.

Kishida also confirmed that Japan will be freezing the assets of an additional 70 individuals and organizations within Russia, while simultaneously implementing export bans targeting 90 Russian companies tied to the defense sector.

https://www3.nhk.or.jp/nhkworld/en/news/20220627_08/

Now that they're officially broke, I wonder... does asset seizure follow? Like, obviously we're talking about stuff outside the country, right?

Anthony Hill5 said:It is nothing short of a total fiasco, especially when you consider that even the Russian Finance Minister is admitting to an 8.5% GDP collapse, or essentially claiming they have surrendered twenty years of progress.

Admittedly, they focused solely on the "Fuck EU" comment. They conveniently ignored the far more critical element—the catalyst for the entire chain of events involving what was clearly an American-orchestrated coup, which ultimately led to the current conflict.

https://www.theguardian.com/world/vi...l-leaked-video

The whole "Fuck EU" sentiment emerged during the negotiations with Viktor Yanukovych regarding the formation of a new government where Arseniy Yatsenyuk was slated to become Prime Minister.

We all know the real reason why Yanukovych fled to Russia, and this leaked phone call certainly isn't it.

On the European Union side, inflation is at 8.5%, while they're looking at an 8.5% GDP contraction.
This war hits us in the European Union too, but it hits them much harder. In the long run, they're the ones losing out.

I'm expecting a total shitshow this fall when they try using gas valve turning as blackmail. I'm certain that's how it plays out. The European Union can't secure enough alternatives, so we'll all take a hit—but ultimately, the Russians end up worse off in the long haul.

Donna Harris11 said:Now that they're officially broke, I wonder... does asset seizure follow? Like, obviously we're talking about stuff outside the country, right?

You know what actually hurts us? Nothing. I just want them out of Ukraine already.

The British have finally figured out how to spite the Russ and tackle the fertilizer shortage all at once. They're actually sanctioning the stuff only to turn to pee-cycling.

If I can use my own urine to insult Putin, then that bizarre dream I had last week might actually become a reality.

https://www.theguardian.com/environm...feed-the-world

steelfox98 said:The British have finally figured out how to spite the Russ and tackle the fertilizer shortage all at once. They're actually sanctioning the stuff only to turn to pee-cycling.

If I can use my own urine to insult Putin, then that bizarre dream I had last week might actually become a reality.

https://www.theguardian.com/environm...feed-the-world

Honestly, nobody needs to humiliate the Russ—they’re doing a perfectly fine job of that themselves with their current foreign policy.

Just how much has Russia's global standing as a superpower actually increased following this whole "crusade" into Ukraine to root out neo-Nazism?

Donna Harris11 said:Now that they're officially broke, I wonder... does asset seizure follow? Like, obviously we're talking about stuff outside the country, right?

Nah, but those vulture funds might try to scavenge whatever's left.

Amanda Allen4 said:Honestly, nobody needs to humiliate the Russ—they’re doing a perfectly fine job of that themselves with their current foreign policy.

Just how much has Russia's global standing as a superpower actually increased following this whole "crusade" into Ukraine to root out neo-Nazism?

What does your take on Russia have to do with the actual post or the topic at hand?
A pretty pathetic attempt at whataboutism, if you ask me.

Amanda Allen4 said:Honestly, nobody needs to humiliate the Russ—they’re doing a perfectly fine job of that themselves with their current foreign policy.

Just how much has Russia's global standing as a superpower actually increased following this whole "crusade" into Ukraine to root out neo-Nazism?

Let’s be honest: very few people even considered them a true superpower before this aggression began, which only served to prove that even their status as a mere regional power is highly debatable.

If we are looking for where neo-Nazism actually exists in its chosen form, you'll find it right there in Russia. It’s hardly any wonder that they’ve become the primary target for both national patriots and the far-right populist movements back home.
Lp

steelfox98 said:What does your take on Russia have to do with the actual post or the topic at hand?
A pretty pathetic attempt at whataboutism, if you ask me.

Putin has disappointed me—though let’s be clear, he isn't some absolute autocrat like Peter the Great was; he's just one part of an elite group steering modern Russian policy. A "first among equals," if you will.

Back in 2007, Time magazine named him "Person of the Year" because of how much he did to integrate the Russian economy into the global market.

Of course, any time state-owned capital gets privatized, it creates tycoons—Russia was no exception there—but that isn't a matter of global concern, and the world doesn't meddle in that. What the world reacts to is when a nation's aggressive actions cross its borders and threaten other sovereign states—and that is precisely the war Russia is currently waging in Ukraine.

So, how did the world respond to the Russian aggression against Ukraine?

The UN resolution condemning the attack on Ukraine was supported by 141 member states, with only 5 voting against and 35 abstaining. That provides a very clear picture of the current global landscape and how the international community will likely handle similar actions from any other country in the future.

Putin himself explicitly stated that Ukraine is actually Russia and that this war is about reclaiming what was taken from them. I think that says it all—there is no longer any doubt regarding the motives behind the aggression against Ukraine.

Russia has always been a colonial power that expanded through land grabs in its immediate neighborhood, and it poses no threat to countries far removed from it. This explains why many nations that condemned the invasion of Ukraine are hesitant to join sanctions that would negatively impact their own economies.

Russia is basically just one giant global gas station and a massive stockpile of raw materials. Their entire industry setup is more like what you'd see in some average small-town state rather than a superpower.