Posted on 09/17/2024 9:46:12 PM PDT by Cronos
Beijing has banned its car companies from building factories in Russia. After Western car companies left Russia, the Kremlin's hopes of launching domestic production focused on China. But nothing will come of it. Beijing does not want Chinese companies to risk money in countries like Russia
The western fascist elites want everyone to believe that Russia is isolated and pushes cherry-picked examples to support their agenda. Meanwhile, BRICS and other economic venues keep opening and growing at a fast pace. The One World Government folks must be so frustrated. :-D
China has been diligently taking notes on the Russian divestiture strategy.
Obama and his people promised Putin they would do everything possible for him.
The west is not fascist — Putin and Xi toss out the words “Nazi” and “fascist” to define anyone who does not want to be under Moscow or Beijing’s thumb.
BRICs ain’t “growing at a fast pace” - India has and will continue to block any Chinese investments or much of Chinese trade with India as China has claims on Indian territory.
BRICs is all talk - they have little to nothing in common besides being a Goldman Sachs marketing name
Ah, a Polish site you have translated through Google.
I wonder what their provenance is... and what the article *really* says.
>> The west is not fascist —
Oh, I totally agree! The “west” (especially Yurp) is full-on mentally ill PROGRESSIVE. That’s a doom loop worse, much worse, than fascism.
May that west (especially Yurp) rot and decay from their progressive love. By whatever means it takes, including being overwhelmed and co-opted by the “migrant class” you Yurps are currently so enamored with.
Repent, or ROT, you who have so cavalierly chosen to disregard Almighty GOD and His Son Jesus.
The article really says that There are no more foreign investors in Russia, not even Chinese.
And the countries considered “friendly” by the Kremlin are increasingly closing their financial markets to Russian business. Banks in China, India, Turkey, the UAE and Asian republics are refusing to finance transactions and open accounts.
What more is there for you to glean?
They have BRICS, aren’t those countries doing financial things between themselves?
Sounds like an opportunity. I bet Soros invests as soon as he’s allowed.
Actually, it isn’t - not in Poland, nor in Hungary - not yet at least.
And Russia has its own mental problems - with among the highest abortion rates, divorce rates etc.
The USA may be bad, but don’t kid yourself into thinking Muscowy is any morally better - it isn’t
>> There are no more foreign investors in Russia, not even Chinese.
This has been said before. It has failed to materialize.
Show me pictures of the Russian bread lines?
BRICs aren’t.
India has closed itself to China for the simple reason that China claims Indian territory and has been engaged in low-level war with India.
In addition, the only flows of cash have been China building the One road, one belt - which has floundered after a series of failures - like Gwadar.
>> The USA may be bad, but don’t kid yourself into thinking Muscowy is any morally better - it isn’t
When dd I ever say that?
“However, “in the near future, the volume of such (foreign – ed.) investments will be small,” admits the Bank of Russia. Confirmation of this is not far to seek, because a few days ago, the Chinese authorities recommended that their business not build any plants in Russia and not risk their money on this market. Therefore, as the Bank of Russia admits, “at least in the medium term, it is necessary to rely mainly on domestic sources of financing.”
What goes around, comes around...
Russia is a kleptocracy in its most pure and menacing form. You can’t blame rational people for not doing business with it anymore. There’s no business upside. Putin is an increasingly frail and threatened leaders, in so far as that term can be applied to a criminal like him.
The United States’ future if Harris wins/steals the election.
https://www.reuters.com/business/finance/austrian-raiffeisens-entanglement-with-russia-2024-09-06/
Timeline of Austrian bank Raiffeisen's entanglement with RussiaBy Tommy Reggiori Wilkes and John O'Donnell
September 6, 20244:00 AM CDT Updated 12 days ago
LONDON/VIENNA, Sept 6 (Reuters) - A Russian court has frozen Raiffeisen Bank International's (RBIV.VI), local arm, killing off any prospect of selling the business for now and deepening the standoff between Moscow and the West.
Austrian bank RBI, active in Russia since the end of the Soviet Union, has increasingly frustrated U.S. and European officials after failing to scale back its business there, despite repeated warnings it should pull back following the 2022 invasion of Ukraine.
Below is a timeline of the row over Raiffeisen's presence in Russia. February 2022: Russia invades Ukraine, prompting unprecedented Western sanctions on Moscow. Many Western banks rushed to sever ties or shut down offices in Russia.
2022: Some banks stay put, the biggest of which are RBI and Italy's UniCredit (CRDI.MI), opens new tab. Business is booming as Russian companies seek a payments lifeline to the West. Washington, however, is watching.
February 2023: U.S. sanctions enforcement agency OFAC launches an inquiry into RBI. U.S. officials ask Raiffeisen about its business in Russia, the partially occupied Donbas, Ukraine and Syria, including about the transactions and activity of certain clients, a source with direct knowledge of the matter told Reuters. The probe continues.
March 2023: The European Central Bank pressures RBI to quit Russia, sources said.
May 2023: RBI seeks to reassure critics and says it is stepping up attempts to exit Russia, a message it often repeated in the months that follow. The search for a buyer, however, leads nowhere.
July 2023: RBI delays plans to leave Russia by its earlier deadline of September, sources tell Reuters. Both the bank and Austria dig in their heels.
December 2023: To unlock funds stranded in Russia, RBI unveils a complex deal to take a stake in Austrian construction group Strabag (STRV.VI), linked to sanctioned Russian tycoon Oleg Deripaska.
March 2024: Washington pressures RBI to drop the Strabag deal because it believes Deripaska will gain. The news catches investors off guard, sending the stock into a spin. RBI is forced to drop a bond sale. March-April 2024: ECB again increases pressure on RBI, demanding the bank cut loans to customers in Russia and pare back international payments.
May 2024: In a written ultimatum, Washington threatens to curb RBI's access to the dollar system, a drastic penalty.
In a letter, Deputy Secretary of the Treasury Wally Adeyemo expresses concern about RBI's presence in Russia as well as the $1.5 billion Strabag deal, a source told Reuters.
May 2024: RBI drops the contested Strabag deal.
May 2024: RBI again defends its conduct, saying it has reduced activities in Russia and that leaving the country is complicated.
September 2024: RBI reveals that a Russian court has frozen shares in its local arm. This means that the sale that has long been pushed for by regulators, cannot happen — at least for now.
https://inews.co.uk/news/world/western-banks-trapped-russia-taxes-3030132
How Western banks ‘trapped’ in Russia paid £684m in taxes to Kremlin
Seven European banks still operating in Russia reported a combined profit of more than £2.6bn last year, three times higher than in 2021
By Taz Ali
Senior world reporterWestern banks that are still operating in Russia reportedly paid nearly more than €800m (£684m) in taxes to the Kremlin last year, an increase from pre-war levels despite sanctions to reduce Moscow’s ability to finance its conflict in Ukraine.
The seven biggest European banks in Russia – including Germany’s Deutsche Bank, Netherlands-based ING and Austria’s Raiffeisen Bank International (RBI) – reported a combined profit of more than €3bn (£2.6bn) last year, three times higher than in 2021.
That meant they paid €800m in tax in 2023, up from €200m (£171m) in 2021, according to analysis by the Financial Times.
Sure they have. Russia has benefited from the ejection of parasitic multinationals.
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