The Demolition of Russia's Economy
- Thread starter gwb-trading
- Start date
No sane country which endured the Soviet Union wants to stand with Putin's Russia. They know the future for Russia and its allies is bleak.
Kazakhstan does not want to be behind new iron curtain - deputy minister
https://news.yahoo.com/kazakhstan-does-not-want-behind-101536534.html
Companies exiting Russia due to the war in Ukraine are welcome to move production to Kazakhstan, the country's deputy foreign minister told a German newspaper, saying Kazakhstan would not want to be on the wrong side of a new "iron curtain."
Countries should not come merely to avoid sanctions against Russia, "but all companies with a good reputation that want to move their production here are welcome," Die Welt on Monday quoted Roman Vasilenko as saying.
"If there is a new iron curtain, we do not want to be behind it," he said, referring to the Western term for a dividing line between eastern and western Europe during the Cold War.
A raft of Western companies are shuttering businesses in Russia in response to pressure from consumers to take a stand against the invasion of Ukraine.
Kazakhstan has avoided criticising Russia's move to invade a fellow ex-Soviet republic, but Kazakh President Kassym-Jomart Tokayev said this month that all countries must strictly adhere to the norms and principles of the United Nations charter.
Kazakhstan does not want to be behind new iron curtain - deputy minister
https://news.yahoo.com/kazakhstan-does-not-want-behind-101536534.html
Companies exiting Russia due to the war in Ukraine are welcome to move production to Kazakhstan, the country's deputy foreign minister told a German newspaper, saying Kazakhstan would not want to be on the wrong side of a new "iron curtain."
Countries should not come merely to avoid sanctions against Russia, "but all companies with a good reputation that want to move their production here are welcome," Die Welt on Monday quoted Roman Vasilenko as saying.
"If there is a new iron curtain, we do not want to be behind it," he said, referring to the Western term for a dividing line between eastern and western Europe during the Cold War.
A raft of Western companies are shuttering businesses in Russia in response to pressure from consumers to take a stand against the invasion of Ukraine.
Kazakhstan has avoided criticising Russia's move to invade a fellow ex-Soviet republic, but Kazakh President Kassym-Jomart Tokayev said this month that all countries must strictly adhere to the norms and principles of the United Nations charter.
While they didn't all endure the USSR directly, there are a lot of "unsane" countries that are not highlighted in yellow dealing with Putin's Russia.
Come on, the Russians aren’t allowing the ruble to trade and pumping it. If the ruble were open it would be between 140 and 160.
The ruble is traded in the interbank whether or not Russian wants it to, dude. If countries could freeze their currency by simply halting trading, don't you think they would? Erdogan going "damn, how can I do that??"
Normally the exchange rate is linked (Moscow and Interbank) but they diverged when Russia shut it down.
The ruble is not at market price. The government has limited selling and forced buying. They can keep this going for some time until they run out of stores of imports then it goes crashing. Theoretically, they can use this time of controls to make new trade arrangements and it looks like they are looking at India for a deal with oil. Who knows? But don’t pretend like this is a free market price - the ruble is shot right now it’s just it can’t be sold.
When did Russia "freeze" the ruble? What date?
Excuse me, am I missing something about “freeze”?
Of the ruble? You cannot exchange the ruble domestically at all anymore and before it was capped at $10k. Banks are barred completely from selling foreign currency, and businesses are required to exchange 80% of their foreign currency for rubles. Russia is also attempting to force the selling of the ruble by making certain countries pay for oil in rubles. These are demand induces and not market back trading.
As I said before, lift these and the ruble crashes but you cannot knock Russia for taking these actions either. However, they will only hold until stores of imported goods run out and the controls will fail, or theoretically should. Russia is in a race to reorganize its economy on the fly right now.
Please don’t misunderstand me as saying Russia doesn’t hVe a say in whether or not their economy goes to shit or how badly it will suffer. They certainly do. We will have to see what kind of schemes they come up with. What I will say is there is no way I would want to be holding rubles for the foreseeable future and I can’t see too many businesses or countries that would want to either.