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Posted on 06/27/2024 11:48:55 AM PDT by canuck_conservative
Moscow must find other ways to pay for exports or its sanctions-hit economy faces "ruination" one of President Vladimir Putin's top bankers has said, following moves by Chinese lenders to suspend transactions with Russian banks.
ICBC, China CITIC Bank and most other Chinese banks have made similar moves, worried about falling foul of Western sanctions, which have been stepped up to choke off the funding for Putin's full-scale invasion of Ukraine.
Earlier this month, the U.S. and other countries unveiled a new wave of sanctions that targeted Russian financial institutions and entities and individuals who do business with them.
"If the war were to end, the Russian economy would come to a sudden stop, leading to a crisis, if preparations for the next war were not made," he continued.
Western sanctions imposed since the start of the war have seen many large Russian banks halting transfers in dollars and euros and move to international settlements in currencies such as the yuan and Indian rupees.
Meanwhile, President Joe Biden's Executive Order 14114, which was issued in December, creates a new risk of secondary sanctions for Chinese financial institutions. Two months after Biden issued the order, Zhejiang Chouzhou Commercial Bank, the main Chinese bank used by Russian importers, stopped operations in Russia out of fear of breaking U.S.-led sanctions....
(Excerpt) Read more at newsweek.com ...
But it creates warm fuzzy feeling that generates tingles up the legs of the likes of you.
You fall into the 2nd category of the old adage that states:
“You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all the time.”
Um...is the goal of the sanctions to prolong the war? If you take the article at face value the war is propping up the economy (quite nicely if you believe the GDP numbers from from the global community). IF the war stops that would mean bad things for the economy. Logically one should conclude that keeping the war going is in their intrest. In which case, ironically, the west and Russia now have the same goal. Funny stuff...Unless you’re living in the targetted areas.
Reality:
I believe their statistics service to be as accurate as ours.
World Bank raises Russia's 2024 GDP growth outlook to 2.2% from 1.3% MOSCOW. April 11 (Interfax) - The World Bank has raised its GDP growth outlook for Russia in 2024 to 2.2% from the 1.3% it expected in January.
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Either way, the West's sanction war against Russia has been total failure.
Cue Medvedev: “This will lead to nuclear war!!!!”
FAFO.
What happened to your graphic that went with that statement? The one that showed Russia barely ahead of Germany and Japan for the past three years, not just suddenly overtaking them last week?
Where are the people who continually claim Russia has the strongest economy in the world right now?
Blame Dumbass Putin, but he could care less about the Russian people and how many get offed in Ukraine.
Same as Hitler cursed the German people when he was about to die. With Germany and Nazis defeated. That they were not worthy of him and his meth fuel delusional genius.
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