But surely, the sanctions are working.....
Hmmm. Do you know Russia did to have that happen? Russia did a lot of things that will hurt their economy. Just to have the currency strong.
Meaningless.
You can’t take dividends out of Russia.
Foreign investors can’t sell their investments.
Exporters have to convert half their proceeds into Rubles.
And there’s very few transactions occurring.
At this point the ruble is so manipulated, it’s a meaningless exchange rate.
Nobody except the few is still paying it. China and India to the extent they are buying oil are demanding deep discounts.
Because their trade relationships with the US dwarf that of their relationships with Russia.