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    Russian Economy General News: #9

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    william.boutros

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    Post  william.boutros on Fri Aug 24, 2018 2:10 pm

    These days Russia is facing an economic war. It is best to invest for a better economy rather then focus on the military.
    Russia should be able to maintain a force able to overwhelm Ukraine but not compete with NATO except in the nuclear sphere. I believe that is the wise course of action at this stage until the economy returns to a 5 percent growth.
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    Post  GunshipDemocracy on Fri Aug 24, 2018 2:17 pm

    william.boutros wrote:These days Russia is facing an economic war. It is best to invest for a better economy rather then focus on the military.
    Russia should be able to maintain a force able to overwhelm Ukraine but not compete with NATO except in the nuclear sphere. I believe that is the wise course of action at this stage until the economy returns to a 5 percent growth.




    I almost agree. Only Russia does not need to compete with NATO. it is OK to have strong enough forces to repel long planned aggression.




    I hope that below was the proposals they just cannot refuse thumbsup thumbsup thumbsup

    Belousov spoke about the results of the meeting with the business


    According to the presidential aide, there will be no mandatory involvement of companies in the implementation of the May decree.

    MOSCOW, August 24. / TASS /. Mandatory involvement of companies in the implementation of the May decree will not, said presidential aide Andrei Belousov. According to him, to finance the execution of the May decree at the expense of taxes is wrong, the companies themselves are ready to join the agenda.

    "I can say that the conversation was positive, and it was very pleasantly surprised that companies are actively ready to join the public agenda of the next six-year cycle," he said, adding that these are areas that affect the activities of the companies themselves - infrastructure, ecology, digitalization, etc.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/5487642
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    Post  GunshipDemocracy on Fri Aug 24, 2018 2:24 pm

    miketheterrible wrote:Switzerland froze assets of $5B of Russian oligarches money.

    It comes down to the fact that these oligarches are hiding their money.  They are doing Russia a long time favor of forcing these oligarches to either move their money back to Russia or just outright flee and let others make money internally.

    This also destroys the image of foreign banking nations and their only economic structure.

    This also makes these banks now in debt to the oligarches as they now owe them the money back eventually.

    Regardless on short time effect. Long time one is definitely return capital to Russia. Unlike a generous offer 2 years ago by Putin I hope amnesty conditions now are much less appealing.
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    Post  miketheterrible on Fri Aug 24, 2018 3:35 pm

    william.boutros wrote:These days Russia is facing an economic war. It is best to invest for a better economy rather then focus on the military.
    Russia should be able to maintain a force able to overwhelm Ukraine but not compete with NATO except in the nuclear sphere. I believe that is the wise course of action at this stage until the economy returns to a 5 percent growth.

    Believe it or not, but the huge growth in military procurement spending by Russia also equated to GDP growth and most believe it was the major factor as to 2016 GDP stabilization. The mic provides a lot of decent paying jobs, and it requires a lot of technologies and metals/materials that are made by many other companies.

    They are forcing them to move to dual production because the fact that the MiC has so much potential to accommodate the Russian economy beyond weapon sales. Plus it also plugs holes created from sanctions issue, rather quickly due to their already large revenue balance and technological base.
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    Post  miketheterrible on Fri Aug 24, 2018 3:36 pm

    GunshipDemocracy wrote:
    miketheterrible wrote:Switzerland froze assets of $5B of Russian oligarches money.

    It comes down to the fact that these oligarches are hiding their money.  They are doing Russia a long time favor of forcing these oligarches to either move their money back to Russia or just outright flee and let others make money internally.

    This also destroys the image of foreign banking nations and their only economic structure.

    This also makes these banks now in debt to the oligarches as they now owe them the money back eventually.

    Regardless on short time effect. Long time one is definitely return capital to Russia. Unlike a generous offer 2 years ago by Putin I hope amnesty conditions now are much  less appealing.  

    Nah, the authorities are still pushing kaliningrad as a tax free zone. I think it's already happening as I heard money is being moved there.
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    Post  Hole on Fri Aug 24, 2018 4:36 pm

    South Ossetia would be a better place. Like the Cayman Islands. Or Liechtenstein.
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    Post  Nibiru on Fri Aug 24, 2018 8:29 pm

    America's warning to Russia?


    Russian Central Bank building goes up in flames 
    The building that houses Russia’s Central Bank briefly caught fire in Moscow late on Friday. Firefighting teams promptly extinguished the flames, no one was injured during the incident.



    https://www.rt.com/news/436786-central-bank-moscow-fire/

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    Post  miketheterrible on Fri Aug 24, 2018 9:41 pm

    Yes, 300sqft of space is a warning.

    People who believe this shit should be shot on sight. Don't need waste of air.

    Or if they really did it, the FSB must be laughing their asses off for such a shit job of a "warning". Warning for what exactly? All the US debt has been sold off. So can't be a warning if the action was already taken long ago.

    Unless they have a massive delayed reaction.
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    Post  Hole on Fri Aug 24, 2018 10:06 pm

    CIA got notice of the fall of the berlin wall sometime around 95. Sleep
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    Post  GunshipDemocracy on Fri Aug 24, 2018 11:17 pm

    miketheterrible wrote: Nah, the authorities are still pushing kaliningrad as a tax free zone. I think it's already happening as I heard money is being moved there.

    hmm not bad its like 4hrs of drive from Warsaw I need to upgrade my trunk lol1 lol1 lol1

    Perhaps Crimea can be also a good place. Btu we'll live to see what was chosen.


    Belousov estimated the possible investments at the expense of "super profits"


    MOSCOW, August 24 (Itar-Tass) - RIA Novosti. The state expects to receive about 200-300 billion rubles in investments in priority projects from companies that received super-profits from ruble weakening, Andrei Belousov, the presidential aide, told journalists.

    Belousov and First Deputy Prime Minister and Finance Minister Anton Siluanov on Friday discussed with representatives of big business the promotion of investments in projects corresponding to the priorities of the May presidential decree. At the meeting it was decided to create a working group on investments in socially significant projects, which will determine their list, mechanisms of business participation and measures of state support. The group will include companies exporting raw materials, with the exception of oil and gas. Their total additional income from the weakening of the ruble Belousov estimates at 700 billion rubles.
    At the same time, in his initial letter to the President of the Russian Federation with a proposal to withdraw from exporters the super-income from the weakening of the ruble was called the figure of 514 billion rubles, calculated on the basis of 2017 results. Following the meeting with the business, Belousov and Siluanov were assured that taxes will not be raised, it is only about investments, and on a voluntary basis.

    "Five hundred billion rubles is an upper limit, I think it's realistic that if we bill 200-300 billion at the expense of these companies we will find resources, it will be a very good result," Belousov said.
    The government does not plan to seize excess profits from companies
    But there is no unambiguous understanding of what this sum could be, he noted. "And it can not be, because everything will depend on the set of projects that will be offered, from those support measures and from the financial mechanisms that will be chosen for these six months (the activities of the working group being created)." added Belousov.
    The president of the Russian Union of Industrialists and Entrepreneurs, Alexander Shokhin, in his turn noted that the meeting also talked about the fact that many of the tools declared and prescribed in the legislation to stimulate investments are "not working well" today. "This is also one of our tasks - to see how to revive them," he said.


    https://ria.ru/economy/20180824/1527187334.html





    nothing better the tech - Vorsprung Durch Technik

    The State Duma was told about the "crypto-scheme" for the call of investors to the Crimea


    https://ria.ru/economy/20180824/1527191209.html

    SIMFEROPOL, August 24 - RIA Novosti. The use of crypto currency will allow foreign investors without fear to invest in the Crimean economy through an encrypted scheme, said the head of the Duma committee on the financial market Anatoly Aksakov.

    Aksakov stressed that the scheme will work only if the crypto currency becomes a legal tender in Russia.

    "It is planned that all the same, crypto money can appear at a certain stage.Of course, there should be a decision of the Central Bank.These crypto money should be tied to real money.This is not just some unsecured instruments.For example, a deposit in a bank is, 10 million rubles.To this amount in circulation issued crypto money, encrypted money and there is no longer visible to those who operate with this money, "said Aksakov on the radio station" Sputnik in the Crimea . "

    "We expect that at the expense of this tool in the future, when we get permission, to attract those people who are afraid to invest directly in the Crimea right now, but through an encrypted scheme they can invest in projects that promise good returns," Aksakov added.

    According to him, Crimea is interesting for both Asian and European investors.
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    Post  GunshipDemocracy on Fri Aug 24, 2018 11:18 pm

    Hole wrote:CIA got notice of the fall of the berlin wall sometime around 95. Sleep


    followed by an annexation of GDP by FRG   lol1 lol1 lol1





    Nibiru wrote:America's warning to Russia?

    heheh this is good thumbsup thumbsup thumbsup
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    Post  Austin on Sun Aug 26, 2018 6:59 pm

    Strong ruble is not needed: Western banks are preparing for the dollar by 90

    http://k-politika.ru/krepkij-rubl-nikomu-ne-nuzhen-zapadnye-banki-gotovyatsya-k-dollaru-po-90/?utm_source=finobzor.ru
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    Post  GunshipDemocracy on Sun Aug 26, 2018 7:48 pm

    Austin wrote:Strong ruble is not needed: Western banks are preparing for the dollar by 90

    http://k-politika.ru/krepkij-rubl-nikomu-ne-nuzhen-zapadnye-banki-gotovyatsya-k-dollaru-po-90/?utm_source=finobzor.ru

    as part of information war against Russia surely. If this is not OK for Russian budget it aint gonna happen. I remember those "experts" Euro 100-120 an dollars 100 rubles. # years ago

    BTW Finobzor is clearly anti Putin liberast outlet. look at other articles,if you real all (I quoted a part) they complain for re nationalization lol1 lol1 lol1



    https://finobzor.ru/66733-rossiya-prodolzhit-tihuyu-nacionalizaciyu-ekonomiki.htm

    Russia will continue to "quiet" nationalization of the economy


    In any case, we still can not depart from the topic of anti-Russian sanctions, but one pulls the other. The first thing that the Russian economy faced after the reunification of the Crimea with Russia and the first "wave" of sanctions: the weakening of the ruble and the decline in quotations of shares of Russian companies. It would be foolish to assume that Moscow did not foresee these events and was not sure that the economy would cope.

    The multiplicative effect of the ruble decrease (the shares are traded for rubles, which means that in dollar terms the shares of domestic companies sank even more) led to the appearance of inexpensive shares on the market. But now this situation was used not by individuals, like Berezovsky and Khodorkovsky, but by the state itself. Russia bought on the market a huge number of shares of the so-called "blue chips" and many strategic enterprises.

    This can be called "soft nationalization", and all subsequent sankion packages against Russia allowed the state to only increase the volumes of such nationalization. By 2018, the state's share in the economy became simply "immodest": 70%. ....

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    Post  GunshipDemocracy on Mon Aug 27, 2018 11:49 pm

    Ryabkov: BRICS is working to weaken the dominant role of the US in the financial sphere


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/5495358


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    Post  miketheterrible on Wed Aug 29, 2018 6:50 pm

    https://sdelanounas.ru/blogs/111345/

    Export of Russian medicines increased by 11%

    Russian suppliers of pharmaceutical products in the first half sold abroad almost 19 thousand tons of goods more than 20 billion rubles. In physical terms it is more by 11%, and ruble terms by 8% than in the same period a year earlier, data from the Federal customs service (FCS). The growth trend in supply chain farmtovary abroad fits into the General trend of increasing non-oil exports in recent years, and consistent with the goals set by the President. Experts say that abroad there is great demand including domestic substance for high-tech products.

    According to data of the FCS, which acquainted "Izvestia", in the first six months of 2018 Russia exported pharmaceutical products by $342 million (weighted average rate of the CBR — 20.3 billion rubles). This is a 5% increase in dollars and 8% in ruble terms than in the same period a year earlier. In the first half of last year managed to earn $324,9 million, or approximately 18.8 billion rubles. In physical terms the export of pharmaceutical products increased by 11% — to 18.7 thousand tons.

    Under the pharmaceutical products in the basis of the FCS refers to drugs, blood, immune serum, vaccines, veterinary products, sanitary kits. The largest share of revenue bring the first two categories.

    The most (in monetary terms) of pharmaceuticals supplied to Ukraine. Revenue for the quarter totaled $60,6 million (3.6 billion rubles). Followed by Kazakhstan ($52,9 million, or 3.1 billion) and Belarus ($45.3 million, or 2.7 billion rubles).

    The Ministry of industry and trade and the Ministry of health was unable to provide timely comments.

    Earlier, first Deputy Minister of industry and trade Sergey Tsyb said that in developing the government's strategy of pharmaceutical industry development up to 2030 will be priority units of export support and creation of innovative products. Now drugs of domestic companies undergo registration procedures in 60 countries.

    The growth of the supply of pharmaceutical products abroad fit into the overall trend of increasing non-oil exports. As reported by the Minister of industry and trade Denis Manturov at the end of last year it grew by 20% relative to 2016, to $190 billion in monetary terms. According to the may presidential decree, by 2024, the figure is expected to grow to $250 billion a year.

    Russian goods in the first place attractive ratio of price and quality, the expert on the pharmaceutical market, the company Pharma RNC Nikolay Bespalov.

    Russian manufacturers are paying special attention to the quality of goods, often not paying attention to the marketing side of the issue. The major amounts of money being spent to improve the quality abroad is also a lot of money is spent on marketing and advertising. This, in turn, increases the cost of the drug, because there is a need to recoup the investment, he said.

    Despite the fact that prices of Russian suppliers are among the lowest, the quality of domestic pharmaceutical products is not inferior to foreign, said Nikolai Bespalov. He noted that great popularity abroad began to use Russian high-tech pharmaceutical substance. Get their biotechnological method, that is, releasing the protein of the living cell. Such substances become the basis for vaccines or used in the manufacture of high-tech medicine.

    On the quality of domestic pharmaceutical products is better than many countries, said General Director of CJSC "Biocad" Dmitry Morozov. In most cases, it meets international standards and ICH GMP. In the current environment, domestic companies have the ability to increase production capacity to such an extent that in the next decade Russia will be able not only to dispense foreign drugs, but also to fill out their goods to foreign markets, the head of the Pharmacy Guild Elena Nevolina.

    The pharmaceutical industry is one of the most successfully developing Russian industry. The share of domestic drugs on the market for five years has increased 3.6 times — from 13.2% in 2012 to 46.9 percent in 2017. According to DSM Group, in the past year, sales of domestic drugs increased by 4.3% in real terms, and imports — by 2.3%
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    Post  GunshipDemocracy on Thu Aug 30, 2018 3:42 am

    miketheterrible wrote:https://sdelanounas.ru/blogs/111345/

    Export of Russian medicines increased by 11%

    good news but most important is increasing of own products on domestic market - imagine what happens when west is going to sanction medicaments?




    Chinese company invested $ 17 million in testing Russian medicine in the US

    We are talking about eye drops on the basis of the so-called "Skulachev ions"
    http://tass.ru/nauka/5498991


    The Cabinet will discuss the draft law on stimulating the transfer of foreign assets to the Russian Federation

    http://tass.ru/ekonomika/5504315


    In Japan, officially launched test deliveries of goods to Russia on the Trans-Siberian Railway

    http://tass.ru/ekonomika/5500710







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    Post  Austin on Sat Sep 01, 2018 1:12 pm

    FOrget the headline the data inside is interesting


    Putin's Wealth Shift Aims at Russian Economy's Idled Engine

    https://www.bloomberg.com/news/articles/2018-08-12/putin-s-wealth-shift-takes-aim-at-russian-economy-s-idled-engine
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    Post  GunshipDemocracy on Sat Sep 01, 2018 1:58 pm

    Talking about "invisible hand of free market":

    The US imposed sanctions against the Russian Research Institute of Molecular Electronics



    WASHINGTON, Aug. 31 - RIA Novosti. The US Department of Commerce has included the Russian Research Institute of Molecular Electronics in the Sanction List as an organization whose activities do not meet the interests of the national security and foreign policy of the United States

    РИА Новости https://ria.ru/economy/20180831/1527607843.html
    According to the website of JSC "NIIME", this is the leading research center of the "NIIME Group" in the holding of JSC "RTI" (AFK Sistema). The enterprises of the NIIME Group form the largest in Russia complex for scientific and technological research in the field of micro and nanoelectronics, the development and production of semiconductor products. Currently, more than 400 high-skilled developers are working at NIIME.

    https://ria.ru/economy/20180831/1527607843.html


    russia russia russia they must have been doing great job then russia russia russia






    Austin wrote:FOrget the headline the data inside is interesting


    Putin's Wealth Shift Aims at Russian Economy's Idled Engine

    https://www.bloomberg.com/news/articles/2018-08-12/putin-s-wealth-shift-takes-aim-at-russian-economy-s-idled-engine

    True, in face interesting facts although with typical liberast comments from Bloomberg.

    1) Russian economy will grow mostly on-internal state investment
    2) but borrowing wont be external bu tinternal
    3) no overspending and bubble (vide Turkey)

    and now liberast mantra

    4) not on customer spending but against investment and export

    bwahahah - customer spending is cool as long as you produce almost all domestically (China) or have unrestricted access to export own hi-tech goodies (Germany)  but in Russia this must happen first. Otherwise more cahs will be spent on imported cars, computers, machines an dservices
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    Post  miketheterrible on Thu Sep 06, 2018 4:36 pm

    https://sdelanounas.ru/blogs/111641/

    FCS, in January-August increased payments to the Russian budget by 30%

    The Federal customs service (FCS) of Russia in January-August 2018 increased payments to the Russian budget by 30% compared to the same period last year — up to 3,701 trillion rubles, follows from the message of the Ministry.
    "For eight months of 2018 the amount of the Federal budget revenues administered by the customs authorities, amounted to 3,701 trillion rubles", — stated in the message. A year earlier, the volume of transfers amounted to 2,846 trillion rubles.

    In August 2018, was transferred to the budget 568,7 billion rubles (an increase of 47.8% in annual terms).
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    Post  Vann7 on Thu Sep 06, 2018 7:06 pm

    Nibiru wrote:US is ratcheting up its economic war against Russia, its a good thing Russia dumped most of its US debt holdings before their Amiland "Partners" could freeze them

    What Putin is doing is meaningless , Russia almost have no dollars left and his actions have not harmed US ,
    in any meaningful way. If all that Putin plans to do ,to counter America is just drop the dollar ,and hope one day
    Americans gets tired of humiliating Russia ,then he better resign.  Today Germany and France again ,with the usual haters  Canada and US ,  joined in Solidarity Britain new report that claims captured in camera 2 GRU officers , who
    where behind the supposed Chemical attack. in salisbury.  SO it just shows that Europe will support ANY accusation
    the west US-UK claims about Russia ,for fear of any kind of retaliation.. in other words that the EU is not really independent and free and they depend on a system created by US and UK.. still today. a system that they voluntary
    joined in light that there is NOTHING ELSE.

    So Russia with Putin in power have no hope , of ever breaking the Anglo Empire , their system..
    If all that Putin strategy is to stop using dollars Russia and wait for "better times". The only way Russia have
    a chance to totally break the western system ,is by Leading , by influencing Europe ,with a very developed Russia ,
    that surpass American and British top Business.. thats it.. the only way Russia could have a possibility. if it was leading in Space ,leading in Computers , developing a new Internet ,and transforming Russia into a much better version of United States.. but again , this is impossible to happen with a President ,that cut in half Russia space budget and gets distracted by meaningless olympics ,wasting a fortune , in things nobody talks about it anymore. Did anyone talks about Fifa anymore? or about Sochi ? no.. nobody outside Russia talks about it.. while Russia Space program ,is something that almost every week ,the west talks.. is in the minds of people too ,wondering if Russia will ever take the lead in space or not... Putin is the master of missing opportunities . Russia desperately
    needs Influence with Europe and show the west it can lead the world too..,otherwise war will be impossible for Russia to avoid..

    US and UK will eventually convince Europe to isolate Russia , is a matter of time , just reshufling the political map
    in Europe will do the job.. And Putin's will be the only one to blame ,for allowing the western corrupt system to continue ,by following it. Is a shame ,that Putin have been near 20 years in Power in Russia ,and all he did to counter US was boost the army and its nukes..Putin lack of vision and ambitions for Russia ,allowing the west to influence the world ,is the reason Russia is not respected by the west.. and is under sanctions.. Had Russia had
    a more visionary President with understanding on how to counter the west, long time Ago NATO Will have ceased to exist ,without Russia firing a shot.. the Crimean way. and europe will be in the orbit of Russia instead. Thats how the west can be stopped. by crushing the west top business leadership with superior business.

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    Post  GarryB on Fri Sep 07, 2018 10:59 am

    What Putin is doing is meaningless , Russia almost have no dollars left and his actions have not harmed US ,
    in any meaningful way.

    You just don't get it do you?

    This is everything about Russia and nothing about punishing the west or the US.

    Putin is not interested in a stupid spiral of attacks that eventually increase to include military action because that will always end in the same place, and it would take too long and be too painful for Russia for Putin to hope Trump realises the obvious before there is no turning back and they are both screwed.

    Putin hasn't been acting to fight the US or to damage the US, he as been acting to make Russia stronger and more independent... getting rid of dollars makes sense to limit the amount of real damage the US can do to Russia... he could not do it 15 years ago because Russia was too weak... now it can pretty much survive as long as it develops trade partnerships with the rest of the world.

    China and India generally have good impressions of Russia and those two countries have half the worlds population. There are plenty of other countries that Russia can trade with.

    The west has traded with what it calls the third world for over a century and they are still poor and weak and under the thumb of the west.

    China has really only started trading in the last 30-40 years but their approach is totally different... mutually beneficial trade that helps both sides without demands on how their trade partner acts or operates. They build infrastructure and help their new partner develop... it means these poor countries will develop and grow... and in 100 years they might outgrow Russia and China, but they will remember the west kept them down and China gave them respect and treated them as equals and helped them help themselves. This is what Putin wants to do too. Russia and China need to develop too, but they don't need to go the same way the west has gone... they could create a model where a company that makes billions digging resources out of the ground pays a fair share of tax to the country whose ground they found it under... and instead of the CEO of the company getting hundreds of millions of dollars that that money goes to the people actually doing the work getting the material out of the ground and the people who turn it into a product that can be sold.

    Currently a company is a pyramid scheme where the top people get all the profit, while the minimum wage slaves do all the actual work... there has to be a better model than that.
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    Post  Vann7 on Sat Sep 08, 2018 5:39 am

    GarryB wrote:
    Putin hasn't been acting to fight the US or to damage the US, he as been acting to make Russia stronger and more independent.


    But thats a contradiction ..what you just said..
    You cannot make Russia stronger , following the American System.. allowing US to influence Europe ,to turn them against Russia. All that Putin have been doing since he came in power is turning Russia into a giant monopoly of energy in the world and modernizing its military and projecting Russia as a leader in sports.. thats all. what Putin have been doing. The idiot did not see how Dangerous is for Russia ,to allow Americans to continue leading in the world, leading in Popular Hi tech Business and Leading in Space exploration.. because that will drive the world ,the civilized one away from Russia.. nobody follow insecure nations and insecure leaders.. no body follow the third best..people only follow leaders..

    You can't make Russia "Stronger" and more "Independent" while depending 100% of American hi tech business for its nation development..

    in more news.. Russian banks explaining how catastrophic will be the sanctions of Americans in Russia..



    Nibiru
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    Post  Nibiru on Sat Sep 08, 2018 2:59 pm


    It's good to see how reporters from Vesti are asking pressing questions in their interviews. However, I hope the answer from the VTB official is just for the purpose of appearing non confrontational in the eyes of the public, the aim of the US sanctions is clear, that is Destruction of the Russian economy to render it defenceless against further NATO takeover of its sphere of influence.

    @Vann, venting out against Putin's supposed failures won't make a difference anyway, Putin is here to stay in power at least until his term finishes in 2024. Besides, its not like Russia had a better alternative to Putin after Yeltsin's disastrous years.

    I think what is important right now is to for the Rus government to make sure that their import substitution and other self reliance programs like engine and semiconductor production with 100% Russian parts are carried out smoothly and without delay.
    Neutrality
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    Post  Neutrality on Sat Sep 08, 2018 6:03 pm

    If the congressional sanctions - the ones about banning state debt obligations and restricting some top 10 Russian banks from using the US based banking clearing systems - are put in place without exceptions then it's going to hurt. The pain will be there and the government isn't trying to deny it. However, this pain will be short lived. My impression from reading both Western and Russian financial/economic expert opinions is that the government isn't going to sit idle and watch the situation unfold.

    Plans are already being made to (probably way before already) circumvent this by:

    1) using the Russian interbanking system (called SPFS) in case the SWIFT ban becomes reality. Sberbank has already successfully tested this.
    2) switching to payments made in national currencies. Again, this was successfully tested with China and members of the EEU.
    3) Russia has already established off-shore territories in Kaliningrad (October Island) and Vladivostok (Russky Island) to give Russian companies, registered in Western/non-Russian off-shores, the chance to remain in international business. En+ of Deripaska has apparently done this already and UC Rusal is likely to follow.
    4) addiotional plans are being made to create a Russian based listing platform where sanctioned companies can trade shares/options.

    That's for the domestic part.

    If we take a look at the international level then Germany would be the best example. Heiko Maas has proposed to create a European banking/payment system that will be independent from the American and thus unaffected by American regulation.

    Now, there's no absolute gurantee that this will work. Everything depends on the willingness, stubbornness and getting like-minded countries onboard.

    I keep wondering about the following: if you ban one of the biggest economies in the world from using your product (dollar), aren't you basically shooting yourself in the foot by removing a customer? Moreover, other countries are watching closely Washington's behavior, including their allies. Today Washington might be friends with you but governments and policies change so in 10-20 years this situation might face you too. Why not put a secondary (plan B) system in place?

    Feel free to correct me if you think my conclusions are wrong.
    Hole
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    Post  Hole on Sat Sep 08, 2018 7:18 pm

    The dollar is already a dead horse. Russia, China, India, Iran and a bunch of other countries are ditching it. But they do it slowly, because a fast end would hurt there own economies.

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