Article

2022-04-01 Caribbean-Latin America

Putin threatens to turn off Europe's gas supplies TOMORROW if countries refuse to pay in roubles

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Posted by Fred 2022-04-01 00:00|| || Front Page|| [11125 views ] Top
File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats

#1
What is it with Putin...
It is like every other day Euro is ok, then rubles only the next?

Is it slow news or is it a Space Case Putin?

Posted by NN2N1 2022-04-01 08:16|| 2022-04-01 08:16|| Front Page Top

#2 Jumping off a burned out tank with your finger on the trigger of your AK is never a good idea.

Posted by Skidmark 2022-04-01 08:17|| 2022-04-01 08:17|| Front Page Top

#3 It's just economics, bro. Russia is rolling in money now -- look at the current account surplus. It's expected to DOUBLE this year.

$200-240 billion easily pays for the war and then some. From Reuters this morning:

"Analysing tanker traffic data, the Institute of International Finance (IIF) estimates Russia's March oil export earnings will total $12.3 billion - up sharply on March 2021 as energy prices soar.

Collapsing imports could see Russia's current account surplus double from 2021 to $200-$240 billion this year, the IIF also estimates.

Posted by Guillibaldo Theanter9701 2022-04-01 10:53|| 2022-04-01 10:53|| Front Page Top

#4 The war has been costing Russia about $500 million per day -- less now that they're relaxing the pressure on the north and focusing on mopping up what remains to be done to complete their control of the coastline in the south and east.

If the Russian Army is now spending $300-350 million per day, then Russia's increased current account surplus would allow them to easily fund the war for the rest of 2022.

Posted by Guillibaldo Theanter9701 2022-04-01 10:58|| 2022-04-01 10:58|| Front Page Top

#5 This was from the day before we saw it yesterday so today is tomorrow.

Posted by Skidmark 2022-04-01 11:19|| 2022-04-01 11:19|| Front Page Top

#6 ^ Looks like it's working out.

Posted by Dron66046 2022-04-01 12:22|| 2022-04-01 12:22|| Front Page Top

#7 So two can play at this economic war game. Who knew?

Posted by Tom 2022-04-01 14:35|| 2022-04-01 14:35|| Front Page Top

#8 China won't play ball. China just told the EU to fuck off

Posted by Chunky Oppressor of the Texans8096 2022-04-01 15:00|| 2022-04-01 15:00|| Front Page Top

#9 Where are all these rubles going to come from? Is Russia going to sell them to the other countries? For what currency?

Dollars?

Posted by Rob Crawford 2022-04-01 15:26|| 2022-04-01 15:26|| Front Page Top

#10 It's called correspondent banking, it's been around for over a hundred years. India and Russia will trade with each other using the rupee-rouble trading mechanism. They're selecting the bank now - India easily got around the US sanctions to buy oil from Iran using UCO Bank. There's another precedent, India's purchase of Russian air defence systems.

Posted by Slineling Chusong5031 2022-04-01 15:51|| 2022-04-01 15:51|| Front Page Top

#11 India, China, OPEC along with Europe's importers of Russian gas will render the sanctions useless.

The sanctions are just the US elephant trampling everything and shitting up the place again. This time the non western nations will go their own way and create their own non-dollar trading mechanisms... end of an era

Posted by Slineling Chusong5031 2022-04-01 15:56|| 2022-04-01 15:56|| Front Page Top

#12 Russia’s new customers are not as free spending as the old ones, and Russia is somewhat constrained by Western sanctions, so the new contracts will be less profitable than the old ones.

Russia would have a much smaller surplus if the government actually put in good roads and properly equipped their army, though overall they are to be congratulated on being much more sensible about spending than the Americans have been since Newt Gingrich retired. President Trump was keen to balance the budget, but unfortunately the senior Republicans in Congress at the time were not. It will be very interesting to see what happens on that front if the Republicans get veto-proof majorities in both Houses of Congress in November, or even just simple majorities.

Posted by trailing wife 2022-04-01 16:59|| 2022-04-01 16:59|| Front Page Top

#13 ~~interesting~~

disappointing

fify

Posted by Anomalous Sources 2022-04-01 20:35|| 2022-04-01 20:35|| Front Page Top

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