Sanctions on Russia

Adam Lee13 said:A range of 17 miles, which means they can cover the border with Belarus properly again...

I mean, that’s fine too, I guess. It’s just really wondering what the deal is with their ammo supply?

steelfox98 said:Now we're just faking data? Your headline and stats don't match the actual article; you basically "edited" the link title to suit your narrative.
The article states the rate is 8%, not the 20% seen immediately after sanctions hit. It was lowered several times shortly after. Actually, if memory serves, it was 9% before the conflict, and now it's even lower.
They're struggling, clearly. 🤣

We saw this whole play in 2014. After the initial shock and the crash, the Russians adapted. They went from being net importers to arguably the biggest agricultural exporters, bolstered their industry, and stockpiled record amounts of gold and reserves.

Well, that's exactly what I was getting at! I just attached a more recent link. On February 28th, Russia hiked their interest rate to 20%, then spent the following period cutting it back down while using other tricks to artificially prop up the ruble.

Federal Reserve
Russia central bank more than doubles key interest rate to 20% to boost sinking ruble

They’ve frozen all withdrawals and any foreign currency transfers people have sitting in their accounts or receiving from abroad. Basically, you can't pull out any dollars or Euros, even if you have them sitting right there in your account. All you can do is swap them into rubles at an artificial exchange rate.

If the Federal Reserve Bank of America tried something like that right now, the US Dollar would probably skyrocket against the Euro within a matter of days.

Russia's GDP took a massive 4% hit in Q2 2022

Topic is "sanctions on Russia" ☕

steelfox98 said:Now we're just faking data? Your headline and stats don't match the actual article; you basically "edited" the link title to suit your narrative.
The article states the rate is 8%, not the 20% seen immediately after sanctions hit. It was lowered several times shortly after. Actually, if memory serves, it was 9% before the conflict, and now it's even lower.
They're struggling, clearly. 🤣

We saw this whole play in 2014. After the initial shock and the crash, the Russians adapted. They went from being net importers to arguably the biggest agricultural exporters, bolstered their industry, and stockpiled record amounts of gold and reserves.

Just ignore the fact that their GDP percentage plummeted by 30%. I suppose that’s completely irrelevant when one is busy trolling about the strength of the Russian economy.

Anthony Hill5 said:Just ignore the fact that their GDP percentage plummeted by 30%. I suppose that’s completely irrelevant when one is busy trolling about the strength of the Russian economy.

I guess nobody really has the actual numbers right now since they aren't even publishing them anymore. From what I can see, the US is basically shifting toward a total war economy, so GDP isn't even a useful metric here... we can't really compare the Russian GDP to anything else anymore.

Melissa Rivera5 said:I guess nobody really has the actual numbers right now since they aren't even publishing them anymore. From what I can see, the US is basically shifting toward a total war economy, so GDP isn't even a useful metric here... we can't really compare the Russian GDP to anything else anymore.

Funny joke.

So you flew all the way to Washington, D.C. just to pick up dollars at that rate?

You can't even get your hands on dollars in Moscow.
The exchange rate is nothing but a total illusion.

Anthony Hill5 said:Just ignore the fact that their GDP percentage plummeted by 30%. I suppose that’s completely irrelevant when one is busy trolling about the strength of the Russian economy.

30 percent?! 🤦 🤣

Joshua Myers432 said:30 percent?! 🤦 🤣

Just take a look at their GDP back in 2013, prior to the occupation of Crimea and the Donbas, and compare that to where they stood following the sanctions through 2019—that is, before the pandemic hit and everything went south. ☕

We've been reading all along about how Russia is pulling in record revenue from oil sales—sanctions be damned—all thanks to those sky-high prices.

So, how does that square with a 4% drop in the second quarter? How is that even possible? (And no, that’s not a rhetorical question).

analogbear5 said:We've been reading all along about how Russia is pulling in record revenue from oil sales—sanctions be damned—all thanks to those sky-high prices.

So, how does that square with a 4% drop in the second quarter? How is that even possible? (And no, that’s not a rhetorical question).

Obviously, we aren't just talking about some local gas station here. So, how is that possible?

Anthony Hill5 said:Just take a look at their GDP back in 2013, prior to the occupation of Crimea and the Donbas, and compare that to where they stood following the sanctions through 2019—that is, before the pandemic hit and everything went south. ☕

Per capita:
2013: $16,000
2021: $12,000

2022: $11,000? Or maybe $10,000?

Total GDP:
2013: $2.292 trillion
2021: $1.775 trillion

2022: $1.5 trillion? Or perhaps $1.4 trillion?

analogbear5 said:We've been reading all along about how Russia is pulling in record revenue from oil sales—sanctions be damned—all thanks to those sky-high prices.

So, how does that square with a 4% drop in the second quarter? How is that even possible? (And no, that’s not a rhetorical question).

It is high time we started treating any data coming out of the U.S. Census Bureau with a healthy dose of skepticism!

Adam Lee13 said:Russia's GDP took a massive 4% hit in Q2 2022

That’s really nothing. It’s like looking at a minor hiccup compared to the massive hit they took back during the 2009 recession. They didn't fall apart then, so why would this be different?

Did someone happen to fall apart back in 2009?

America

dustyowl29 said:America

That simply isn't true.
It is common knowledge that Z. M. orchestrated an economic miracle upon taking office. 😉

It looks like Turkey is really leaning into this whole situation, maybe even positioning itself as the primary smuggling hub right now. One of the big reasons why we might see sanctions leveled against Turkey is because of all that machinery and specialized equipment being funneled over to help the Russians sustain their war effort.
https://twitter.com/kamilkazani/stat...dEJB4wSYg&s=19
https://twitter.com/matthew_pines/st...hef3ojNAg&s=19

I’m emphasizing the word "potentially" here, though, because let's face it—Turkey has elections coming up next year, and according to the latest polls, Erdogan is already losing ground. Plus, you can't ignore how much the economic situation in Turkey is just spiraling downward lately.