The Demolition of Russia's Economy

[terr]

"But Russia’s dependence on imports actually worsened over the years. In 2021, some 81% of manufacturers said they couldn’t find any Russian versions of imported products they needed. More than half were dissatisfied with the quality of homegrown production. Both figures were the highest recorded since the survey by Russia’s Gaidar Institute for Economic Policy began in 2015.

In 2020, imports accounted for 75% of sales of nonfood consumer goods in the Russian retail market, according to a study by the Higher School of Economics in Moscow. In some sectors the share was even higher, rising to 86% for telecommunications equipment, the study found. Imports equaled around a fifth of GDP in 2020, compared with 16% in China and higher than other big economies such as India and Brazil."

 

[terr]

"UralVagonZavod" and Chelyabinsk Tractor Factory have stopped production due to lack of imported replacement parts because of the sanctions.

UralVagonZavod is the biggest (and, I think, only?) military tank producing and repair facility in Russia.

 

[gwb-trading]

"UralVagonZavod" and Chelyabinsk Tractor Factory have stopped production due to lack of imported replacement parts because of the sanctions.

UralVagonZavod is the biggest (and, I think, only?) military tank producing and repair facility in Russia.

Maybe they just need to beg the Ukrainian farmers to give them their tanks back...

The only Russian plant to assemble tanks has stopped
https://www.pravda.com.ua/eng/news/2022/03/22/7333502/

The Uralvagonzavod plant and the Chelyabinsk Tractor Plant, which manufacture and repair tanks and other armoured vehicles for the Armed Forces of the Russian Federation, have suspended their work.

Details: Work was suspended due to the lack of essential foreign-made components.

According to Defence Express, Uralvagonzavod is the only plant in Russia that carries out serial assembly of tanks, both for the needs of the Russian army and for export.

 

[TreeFrogTrader]

"But Russia’s dependence on imports actually worsened over the years. In 2021, some 81% of manufacturers said they couldn’t find any Russian versions of imported products they needed. More than half were dissatisfied with the quality of homegrown production. Both figures were the highest recorded since the survey by Russia’s Gaidar Institute for Economic Policy began in 2015.

In 2020, imports accounted for 75% of sales of nonfood consumer goods in the Russian retail market, according to a study by the Higher School of Economics in Moscow. In some sectors the share was even higher, rising to 86% for telecommunications equipment, the study found. Imports equaled around a fifth of GDP in 2020, compared with 16% in China and higher than other big economies such as India and Brazil."

Oh indeed.

The guy who Russians looked to as the person to restore the glory of the Russian Empire, now is head of state of a vassal state of China. Hope that works out for the younger generation of Russians. I am sure they not want to have closer connections with any of those nasty EU and American type people. OR NOT.

And yes, pariah states do tend to hang on despite all the sanctions you throw at them. So it all works out fine, if you are happy to see your country reduced to a pariah state and all your buddies are dictator scum.

Other than that, Russia. You win. OR NOT.

Also, I am at this time agreeing that they are not in immediate danger of default. I don't know. I have not audited their books but I have read assessments that say they are in fact in deep shiite. They needed to use bondo and duct tape and sacrifice a couple chickens just to make this most recent paymentm and it is reported that they have payments coming up in the next two weeks that are four times that size. If one wants to make the case that China will bail them out of that, then that could be but refer back to my vassal state comment. Everyone knows- historically - there is bad blood between the Russians and China. Having to perform sexual acts for China to pay your rent is not the best way to restore the glory of the Russian Empire, the Soviet Union or whatever the game is. As I said, the younger generation is not necessarily as much about the past as Vlad is. OR WE SHALL SEE ANYWAY.

 

[smallfil]

Oh indeed.

The guy who Russians looked to as the person to restore the glory of the Russian Empire, now is head of state of a vassal state of China. Hope that works out for the younger generation of Russians. I am sure they not want to have closer connections with any of those nasty EU and American type people. OR NOT.

And yes, pariah states do tend to hang on despite all the sanctions you throw at them. So it all works out fine, if you are happy to see your country reduced to a pariah state and all your buddies are dictator scum.

Other than that, Russia. You win. OR NOT.

Also, I am at this time agreeing that they are not in immediate danger of default. I don't know. I have not audited their books but I have read assessments that say they are in fact in deep shiite. They needed to use bondo and duct tape and sacrifice a couple chickens just to make this most recent paymentm and it is reported that they have payments coming up in the next two weeks that are four times that size. If one wants to make the case that China will bail them out of that, then that could be but refer back to my vassal state comment. Everyone knows- historically - there is bad blood between the Russians and China. Having to perform sexual acts for China to pay your rent is not the best way to restore the glory of the Russian Empire, the Soviet Union or whatever the game is. As I said, the younger generation is not necessarily as much about the past as Vlad is. OR WE SHALL SEE ANYWAY.

Numerous lies put out by extreme liberal media. One, a very blatant one is that Russia has no access to its $630 billion in reserves in US banks? Not true. Actually, Russia has access to $310 billion of its reserves in US banks. Remember the lie about turning the ruble worthless and making Russia default on its loans? Another big fat lie, of course. It turns out the biggest banks in the US will not be taking those huge losses in those bonds. JP Morgan took the Russian $117 million interest payment, sent it to Citigroup who then, paid the bondholders as expected. No default, just utter BS. Now, there are reports that Russia is cutting some of its oil production. You think that would impact the global markets? In addition Venezuela, Iran, OPEC want higher oil prices. Higher oil production will drive the oil prices lower. Why would anyone want to slash their own throat? Russia continues to sell its oil even at a discount to China and India reported ready to buy as well.

 

[TreeFrogTrader]

Numerous lies put out by extreme liberal media. One, a very blatant one is that Russia has no access to its $630 billion in reserves in US banks? Not true. Actually, Russia has access to $310 billion of its reserves in US banks. Remember the lie about turning the ruble worthless and making Russia default on its loans? Another big fat lie, of course. It turns out the biggest banks in the US will not be taking those huge losses in those bonds. JP Morgan took the Russian $117 million payment, sent it to Citigroup who then, paid the bondholders as expected. No default, just utter BS. Now, there are reports that Russia is cutting some of its oil production. You think that would impact the global markets? In addition Venezuela, Iran, OPEC want higher oil prices. Higher production will drive the oil prices lower. Why would anyone want to slash their own throat? Russia continues to sell its oil even at a discount to China and India reported ready to buy as well.

It's messy out there right now. Indeed India already well underway in regard to buying discounted Ruskie oil. But rumblings are that China does not like the idea that it is protecting Russia and acting like its big brother in this mess and then Russia sells discounted oil to a country that it has an active border conflict with and all sorts of problems- ie. India.

 

[UsualName]

It's messy out there right now. Indeed India already well underway in regard to buying discounted Ruskie oil. But rumblings are that China does not like the idea that it is protecting Russia and acting like its big brother in this mess and then Russia sells discounted oil to a country that it has an active border conflict with and all sorts of problems- ie. India.

Do we know if India is paying in rupees or are they paying with dollars of euros?

 

[SunTrader]

Or maybe Tata Tanks lol.

 

[TreeFrogTrader]

Do we know if India is paying in rupees or are they paying with dollars of euros?

I dont know where they ended on it. They were looking at a rupee-rouble deal but had not finalized as of couple days ago. There could be some dollar or euro payments on current batches that are not necessarily part of the longer term discount deal.

It gets complicated. It gets reported as a Russia to India deal which it is practically speaking but the implementation is not really government to government. It is the large Indian Oil Company dealing with a big broker for Ruskie oil in the Netherlands, or something like that. So the broker may take payment in one form but have another deal going with Russia about payment to them. Dunno.

 

[UsualName]

I dont know where they ended on it. They were looking at a rupee-rouble deal but had not finalized as of couple days ago. There could be some dollar or euro payments on current batches that are not necessarily part of the longer term discount deal.

It gets complicated. It gets reported as a Russia to India deal which it is practically speaking but the implementation is not really government to government. It is the large Indian Oil Company dealing with a big broker for Ruskie oil in the Netherlands, or something like that. So the broker may take payment in one form but have another deal going with Russia about payment to them. Dunno.

It’s going to get real complicated if he’s selling oil for rupees because the rupee itself doesn’t spend to far outside of India. He needs dollars and euros to be in the global market. I’m sure he can get back some medicines and some food stuffs but the imbalance would favor India by a lot.