Sanctions really hammering Russian economy

Bob_C

RatherBeBrewing

Now show the 3 month data. It’s still the lowest it’s been in 15 years, but that’s not how you measure economic performance. Especially when they’re doing everything possible to prop up the R.

They’re selling gold reserves at a 20% discount if you pay with foreign currency. Russia is also attempting to force the Euros to pay for gas in Rubles. Private companies are being forced to sell their foreign cash reserves to the government. Draconian currency policies. Just adding more thumbs to the dyke.

The sanctions are still weak. Yes, they’ll cripple their economy even more over the long term. The biggest things are a very long term, slow development. Withdrawal of Deutsche Bank and Raiffessen are huge. The sanctions are also incomplete. They have work arounds, and don’t target the energy sector enough and bank sanctions are missing the crucial heart of Russian banking.

This is what I said back around the 2/24:

* Cut off Sberbank and Gazprombank from SWIFT.
* EU bans gas and oil imports from Russia.

That’s it. That’s all it would take. A pretty big ask for Germany and other EU countries, but that’s called consequences of actions.

In 2011/12 Russia went for a Hail Mary to fuck up the US economy in a big sell off, and they begged the Chinese to go along with it. China feinted that they were doing it and then just took advantage of Russia’s foolishness. And American softies are afraid of hurting the average Ivan with tougher sanctions.

UW_Doog_Bot

RatherBeBrewing said:

Now show the 3 month data. It’s still the lowest it’s been in 15 years, but that’s not how you measure economic performance. Especially when they’re doing everything possible to prop up the R.

They’re selling gold reserves at a 20% discount if you pay with foreign currency. Russia is also attempting to force the Euros to pay for gas in Rubles. Private companies are being forced to sell their foreign cash reserves to the government. Draconian currency policies. Just adding more thumbs to the dyke.

The sanctions are still weak. Yes, they’ll cripple their economy even more over the long term. The biggest things are a very long term, slow development. Withdrawal of Deutsche Bank and Raiffessen are huge. The sanctions are also incomplete. They have work arounds, and don’t target the energy sector enough and bank sanctions are missing the crucial heart of Russian banking.

This is what I said back around the 2/24:

* Cut off Sberbank and Gazprombank from SWIFT.
* EU bans gas and oil imports from Russia.

That’s it. That’s all it would take. A pretty big ask for Germany and other EU countries, but that’s called consequences of actions.

In 2011/12 Russia went for a Hail Mary to fuck up the US economy in a big sell off, and they begged the Chinese to go along with it. China feinted that they were doing it and then just took advantage of Russia’s foolishness. And American softies are afraid of hurting the average Ivan with tougher sanctions.

Tldr

Swift or gtfo