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    Russian Economy General News: #12

    GunshipDemocracy
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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  GunshipDemocracy Fri Apr 22, 2022 3:43 am

    Sanctions in place yet Germany is going to pay 33,9 billions  Euro for gas/coal and crude in 2022 lol1 lol1 lol1

    https://ria.ru/20220422/energoresursy-1784822081.html




    As for money conversion what is  a technical difference between paying in Euros to Gazprom Bank and paying in Rubles via Gazprom bank?

    !) in case payment in Rubles: Germany buys Rubles on official CBR exchange rate.  
    2) payments in Euro, Gazprom gets euro and sells 80% against an official CBR exchange rate

    unshaven unshaven unshaven

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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  lancelot Fri Apr 22, 2022 5:26 am

    In the long term Russia might try to make a recycling mechanism where Europeans can buy energy with ruble denominated debt they hold. So this won't be just a cosmetic move. It will basically break the currency sanctions mechanism. Well some of it. Not all.

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    Russian Economy General News: #12 - Page 35 Empty how about Turkish Lira

    Post  Gazputin Fri Apr 22, 2022 8:49 am

    make EU pay in Turkish Lira
    Lira then gets out of the inflation death spiral
    and value is restored

    Turkey is grateful and richer
    and then can buy lots of sanctioned Russian products as their buying power has increased
    and pays via local currency swaps - so the transactions are masked

    then they re-export them as "Turkish"

    making Turkey a gateway to the world for sanctioned Russian products
    and vice versa .... procure stuff for Russia it needs/wants



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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  ALAMO Fri Apr 22, 2022 9:05 am

    The sanctions are already broken, to begin with.
    In reality, they have never been effective, just from the beginning.
    You can't sanction 1/5th of a planet.
    Especially, if 2/3rd of the planet's population does not comply and share your opinion on the matter.
    I repeat it again and again : the collective west fell a victim of its own lies and propaganda.
    They have underestimated the role of the Russian economy for so long, overestimating their own, that not only do they really believe in that.
    This belief made them incapable to understand the nature of it.
    If one would consider that from a wider perspective, this situation is actually known and obvious for a long time.
    US is incapable of effectively working with Russia because it does not have skilled diplomatic and intelligence assets in its hands.
    "Young" cadres were educated and skilled to operate in the Asian direction, while the people involved in spying on the Soviet Union are gone for years.
    Underestimating the role of Russia after 1991, dismantled the whole structure. Russian factor was not fancy enough to guarantee a career in structures.
    The thing and its follow-up, is clear to anyone who knows how the bureaucracy works.
    And it worked just perfectly same on the economic direction.
    If one is not a European, he would not believe in this madness that we witness for the last 20 years, that only speeded up for the last decade.
    European countries were the first in line to dismantle the whole security belt that North African and East regimes were created to cover European asses. And were the very first in line to be hit with the results of it - a migrant crisis.
    Among the blind ones, a one-eye is a king.

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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  flamming_python Fri Apr 22, 2022 9:12 am

    Gazputin wrote:make EU pay in Turkish Lira
    Lira then gets out of the inflation death spiral
    and value is restored

    Turkey is grateful and richer
    and then can buy lots of sanctioned Russian products as their buying power has increased
    and pays via local currency swaps - so the transactions are masked

    then they re-export them as "Turkish"

    making Turkey a gateway to the world for sanctioned Russian products
    and vice versa .... procure stuff for Russia it needs/wants




    What favours does Russia owe Turkey? Russia has neither favours to repay, nor favours to ask from Turkey. The Turks themselves as a neutral country, while working with both sides. As is their right. But notice that the West isn't hassling them for not sanctioning Russia like they're hassling other countries. Maybe it's just because they don't want to push Turkey away, or maybe it's because Turkey is helping them with some things too; like Bayraktar deliveries.
    If Turkey wants the lira strengthened then it's free to agree to currency swaps with Russia and a move to trade in each other's currencies instead of outside ones. That would be great. It can also do the same thing with China, India and in general join the club.

    I'm all for the the EU paying in roubles and Putin shouldn't back down on this. Delay it maybe for a little until the Russian position is stronger, but press ahead with it.

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    Post  ALAMO Fri Apr 22, 2022 9:20 am

    Naaah, just extend the list of "friendly countries" that are allowed to pay in whatever they want Laughing
    Let it be a palm oil Twisted Evil
    wanna bet who will sign up for a nice, smelly tanker full of oil if can exchange it for the palm one? Laughing

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    Post  Hole Fri Apr 22, 2022 12:14 pm

    https://www.bullionstar.com/blogs/ronan-manly/where-is-the-russian-federations-gold-stored/
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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  GunshipDemocracy Sat Apr 23, 2022 4:36 am

    EU dicks softening already ...so many bold statements and now? et voila


    ​EU sees way to pay for Russian gas without breaching sanctions


    BRUSSELS, April 22 (Reuters) - EU companies may be able to work around Russia's demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday.

    The EU's sanctions regime does not prohibit companies from opening accounts with Gazprombank, or engaging with the bank to attempt to seek a solution, the document said.

    In short: they sell Euro/$ in Gazprom bank to buy Rubles right? russia russia russia

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    Post  rigoletto Sat Apr 23, 2022 4:39 am

    GunshipDemocracy wrote:EU dicks softening already ...so many bold statements and now? et voila


    ​EU sees way to pay for Russian gas without breaching sanctions


    BRUSSELS, April 22 (Reuters) - EU companies may be able to work around Russia's demand to receive gas payments in roubles without breaching sanctions if they pay in euros or dollars which are then converted into the Russian currency, the European Commission said on Friday.

    The EU's sanctions regime does not prohibit companies from opening accounts with Gazprombank, or engaging with the bank to attempt to seek a solution, the document said.

    In short: they sell Euro/$ in Gazprom bank to buy Rubles right? russia russia russia

    This is exactly the solution presented by Russia and likely already working in practice. In short, they are just trying to appropriate of the solution as their own.

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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  lancelot Sat Apr 23, 2022 1:45 pm

    The Ruble is gaining on the USD again. Fast. The Russian Central Bank better cut interest rates again.

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    Post  kvs Mon Apr 25, 2022 9:38 pm



    Trying to f*ck Russia over is not a cost free exercise.

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    Post  lancelot Mon Apr 25, 2022 11:47 pm

    The UK and Germany should just go back to mining and burning their own coal since they seem to have forgotten how to make nuclear power plants. Instead we hear bogus claims about wind and solar power. Never going to work without 4x energy cost increase. Perhaps those poor people in Wales would also get their jobs as coal miners back. And you know what, coal mines today don't have as shitty working conditions as they used to in the past.

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    Post  flamming_python Tue Apr 26, 2022 1:51 am

    lancelot wrote:The UK and Germany should just go back to mining and burning their own coal since they seem to have forgotten how to make nuclear power plants. Instead we hear bogus claims about wind and solar power. Never going to work without 4x energy cost increase. Perhaps those poor people in Wales would also get their jobs as coal miners back. And you know what, coal mines today don't have as shitty working conditions as they used to in the past.

    As soon as European countries learn to play by the same rules as the rest of the world, all the ideological dicombobulations, 'civilized' vs 'non-civilized' will if not disappear; then weaken.
    The playing field will be evened and everyone will have to engage in fair trade, mutual investment for the things and resources they need, rather than relying on neo-colonialism

    Russian gas & oil is a commodity, not their property. Same goes for Russian-owned pipelines and everything else. If their principles do not allow them to purchase it, if they want to try and weaken Russia by depriving it of revenues - fine. Russia will simply divert its supplies to a booming Asia. And even Japan and South Korea despite all dependency on the US, will not agree to forgo Russian natural resources like the Europeans have done. Japan has already declined to pull-out of the Sakhalin LNG project. It needs that gas. So does South Korea. So does China. Vietnam. India. Pakistan. Thailand. And many more up and coming countries.
    Asian industries will boom, while Europe will have to relearn how to mine coal.

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    Post  GarryB Tue Apr 26, 2022 5:58 am

    And importantly the value cheaper energy will add to their economies will help them get the sort of quality of life that the European west has gotten so used to...

    When Europeans are burning dirty coal their preachiness about climate change and destroying the world will look even more absurd but of course they will find a way to pretend that Europeans burning coal is OK while China burning coal is not.

    I suspect China might switch from coal to much cleaner and easier gas sources of energy the way the europeans were trying to before the US started playing them to get them to stop buying Russian gas to both sell their own more expensive gas and also to hurt the Russian economy.

    The factor I absolutely love is the new pipeline they are going to build to China from the gas fields that are currently supplying Europe goes through Mongolia so such a small country getting these transit fees the likes of which the Ukraine has squandard on weapons to kill Russians with... Mongolia could build roads and upgrade its infrastructure... they could give all retired couples a brand new clean modern house or some such thing and improve the quality of lives for their people without having to borrow and get into debt... it is excellent.

    And the Europeans are making all this possible in their attempts to punish Russia for caring about its neighbours in the Ukraine suffering under nazi control from Kiev and from Washington.
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    Russian Economy General News: #12 - Page 35 Empty New gas pipeline - Mongolia .... Kusbass

    Post  Gazputin Thu Apr 28, 2022 5:41 am

    seems to have many purposes that Siberia 2 pipeline

    Mongolia has really bad air pollution due to coal
    and so do many cities in the Kusbass just above Mongolia
    which is the only region in Russia that burns coal for electricity it seems
    gas can fix all that

    even more interesting there is this idea of Krasnoyarsk becoming a "2nd" or "Central/eastern" capital
    ( bizarrely Rushydro is moving its HQ there and it prides itself on being "low carbon"
    yet their new HQ will be in a smoggy city ?
    quite a few other big businesses are moving there )

    and apparently the entire valley going north with the Yenisei River has a much milder climate
    and has been identified for "new" Siberian cities - Shoigu the Military boss is pushing for it

    check out this "wheat area" map ..... you can see this milder climate corridor going north
    weird huh

    https://ipad.fas.usda.gov/highlights/2012/06/rs_20june2012/whs_map.htm

    and Krasnoyarsk is a great place for a transport hub .... centre of Russia

    and a long way from cruise missiles ..... as a result

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    Post  Kiko Thu Apr 28, 2022 4:05 pm

    The perfumer called the necessary condition for the replacement of foreign products in Russia, by Tatyana Kosolapova for VZGLYAD. 28.04.2022.

    For complete import substitution in the Russian perfume market, it is necessary to open at least one plant in the country to create the basis of fragrances, Zhanna Gladkova, a perfumer who created individual compositions for Russian President Vladimir Putin and Chechen leader Ramzan Kadyrov, told the VZGLYAD newspaper.

    The French-American cosmetic concern Coty, which includes about 80 perfume brands, including Alexander McQueen, Calvin Klein, Gucci, Hugo Boss, Tiffany, the Max Factor mass market brand and others, has announced that it is curtailing its activities in Russia. This decision was made after careful deliberation, including an analysis of relevant US, UK and other regulations.

    “We definitely need to build a couple of factories for the production of perfume composition. In Soviet times, we had them, but in the 90s everything was closed. Now we do not have the opportunity to prepare perfume compositions ourselves, so everything has to be purchased abroad,” says Gladkova.

    She emphasizes that there are a sufficient number of perfumers in Russia, there are no problems with the manufacture of perfume liquid. However, the perfume compositions themselves (what is the basis of the fragrance) have to be ordered. Therefore, it is possible to establish fully domestic production in the country, but for this you need to open at least one plant.

    “As for the raw materials that are available in Europe, today a lot has been taken to Southeast Asia, where it is also possible to buy it. But, of course, we need factories. With them, we would generally manage without Western components calmly, ”says the specialist.

    The creation of a perfume composition is creativity, the expert continues, and there are a considerable number of worthy masters in Russia. Moreover, it is difficult to release a fragrance, but it is even more difficult to sell it. In Europe, according to the perfumer, there is not as much demand for the product as in Russia, so now companies are losing a very large market share.

    “When I am abroad and I smell a fragrance from some woman, it is almost 100% our woman. European women practically do not choke. The Russian perfume market is huge compared to the Western one. Therefore, companies that leave because of political issues lose a lot. Of course, they will return later, but we can also improve our production,” Gladkova said.

    In order to create a perfume factory, according to the speaker, no fabulous sums are needed. The most expensive thing in a modern factory is equipment in the form of robots, which can be purchased in China. That is, the creation of fragrant compositions comes from a computer: a recipe is laid there and a container “runs” on the conveyor, into which fragrant substances are poured. Thanks to such automation, the human factor is excluded, which is important in perfumery, because the slightest deviation leads to a change in the sound of the fragrance.

    In addition, she says that aromas are used not only to create perfumes, but also to flavor household chemicals, candles and other things necessary in everyday life.

    Earlier, the press service of Wildberries said that in the first quarter of 2022, the turnover of the marketplace amounted to 289.2 billion rubles, which is 95% more than the same period in 2021. Sales of cosmetics and perfumes grew by 100% to RUB 28.3 billion.

    https://vz.ru/news/2022/4/28/1156108.html

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    Post  GarryB Fri Apr 29, 2022 6:32 am

    and Krasnoyarsk is a great place for a transport hub .... centre of Russia

    It makes sense to shift the Russian population closer to Asia and other country borders too... they are really only going to need protection on the european border from european countries and for trade with Kaliningrad and Crimea and Belarus and any friendly fragments of Ukraine that survive.
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    Post  Scorpius Fri Apr 29, 2022 7:15 am

    GarryB wrote:
    and Krasnoyarsk is a great place for a transport hub .... centre of Russia

    It makes sense to shift the  Russian population closer to Asia and other country borders too... they are really only going to need protection on the european border from european countries and for trade with Kaliningrad and Crimea and Belarus and any friendly fragments of Ukraine that survive.
    in order for a much larger population to live in Siberia, it is necessary to build a giant infrastructure there. And there will still not be the same amount of arable land as in the European part of Russia. Geography determines the population, not someone's desires.
    probably, in many ways, a simpler and safer task would be to relocate to the Moon and Mars than to create new megacities in Siberia.

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    Russian Economy General News: #12 - Page 35 Empty Siberia Valley

    Post  Gazputin Fri Apr 29, 2022 8:51 am

    I found the name of it

    Menusinsk Basin

    the valley has lots of energy potential re Hydro on that river
    and mineral deposits for low carbon economy

    if you get the cheap energy in
    industry will follow ... is the idea

    but yeah
    eye-watering capital investment
    you are talking China-scale

    and there is the link ... gas to China
    profit thereof .... goes into this mega project
    it does make a lot of sense - self-funding

    and the way the world is going ..... that "basin" may well be the new "garden of Eden"
    as humans breed like maggots ....

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    Russian Economy General News: #12 - Page 35 Empty btw - US Trade Deficit - March 2022

    Post  Gazputin Fri Apr 29, 2022 9:01 am

    did you guys see this

    even with the US Nazi govt telling the EU it must buy its expensive gas .....
    their trade deficit widened .... ? wtf

    EU is tanking .... no surprises there

    https://tradingeconomics.com/european-union/balance-of-trade

    no wonder they need to start another war .... asap

    "WASHINGTON (Reuters) - The U.S. trade deficit in goods widened to a record high in March likely as businesses who are worried about shortages front-loaded imports after Russia's invasion of Ukraine, raising the risk that economic growth stalled in the first quarter.

    The report from the Commerce Department on Wednesday also showed solid increases in retail and wholesale inventories. That could offset some of the hit to gross domestic product growth from the sky-high trade gap.

    The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion. The increase likely reflected both higher volumes and prices. Imports of goods accelerated 11.5% to $294.6 billion. They were boosted by a 15.% surge in imports of industrial supplies, which include petroleum products.

    Graphic: Trade balance - https://graphics.reuters.com/USA-STOCKS/byvrjnmkmve/tradebal.png

    Imports of consumer goods vaulted 13.6%, while those of motor vehicles increased 12.0%. There were also solid gains in imports of food and capital goods."

    "Front-loading of imports related to the Russia-Ukraine war likely drove much of the import spike, as firms boosted inventories of commodities and finished goods in anticipation of potential shortages," Goldman Sachs said in a note.



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    Post  Kiko Fri Apr 29, 2022 2:21 pm

    The Central Bank unexpectedly cut the key rate from 17 to 14 percent, 29.04.2022.

    The Central Bank of Russia suddenly cut its key rate from 17% to 14%.

    The Bank of Russia has lowered its key rate from 17 to 14 percent per annum, the regulator said in a Telegram statement.

    "The external conditions for the Russian economy remain difficult and significantly limit economic activity. At the same time, the risks to price and financial stability have ceased to grow, which created conditions for a reduction in the key rate," the message says.

    Thus, the latest weekly data, as noted by the Central Bank , indicate a slowdown in inflation due to the strengthening of the ruble and the cooling of consumer activity.

    Important indicators for further price dynamics were such indicators as the efficiency of import substitution, as well as the scale and speed of recovery in imports of finished goods, raw materials and components.

    According to the regulator’s forecast, the annual inflation rate will be in the range of 18-23 percent in 2022, in 2023 it will drop to five to seven percent and will return to the target of four percent in 2024.

    Earlier, the head of the Accounts Chamber , Alexei Kudrin , said that inflation in Russia in 2022, according to the baseline forecast, will be 20.7%, next year - more than six percent.

    After the start of the Russian military operation in Ukraine, the West stepped up sanctions pressure on Moscow . Restrictive measures are directed primarily against the banking sector and the supply of high-tech products. Many countries have announced the freezing of Russian assets.

    The Kremlin called these measures an economic war, the likes of which have not yet been, but stressed that they were ready for such a development of events. The Bank of Russia took measures to stabilize the situation on the foreign exchange market; payments for gas supplies to unfriendly countries were transferred to rubles. In addition, the government has prepared a plan to support business, the amount of its financing is expected to be about a trillion rubles.

    https://ria.ru/20220429/stavka-1786127824.html

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    Post  franco Fri May 06, 2022 2:05 pm

    Interesting comparisons of the Russian / Chinese economies versus the US / EU economies in production versus services sectors.

    Let's also revalue it by assuming that the service sector holds much less value than previously thought.

    The service sector is about 54.5% of China's GDP (https://investopedia.com/articles/investing/103114/chinas-gdp-examined-servicesector-surge.asp) which is even less than in Russia (at 56.27%: https://statista.com/statistics/271378/distribution-of-gross-domestic-product-gdp-across-economic-sectors-in-russia/).

    The service sector accounts for roughly 77% of the U.S. economy (https://statista.com/statistics/270001/distribution-of-gross-domestic-product-gdp-across-economic-sectors-in-the-us/) and 70% of the EU's economy (https://ec.europa.eu/growth/single-market/single-market-services_en)

    This means that conversely, the U.S. and EU's economies are probably overvalued today.

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    Post  GunshipDemocracy Sat May 07, 2022 2:35 am





    Scorpius wrote:
    in order for a much larger population to live in Siberia, it is necessary to build a giant infrastructure there. And there will still not be the same amount of arable land as in the European part of Russia. Geography determines the population, not someone's desires.
    probably, in many ways, a simpler and safer task would be to relocate to the Moon and Mars than to create new megacities in Siberia.


    But infrastructure is being built right now. Slowly perhaps (2nd line of BAM , Vostochny, all those aircraft plants, steel mills and shipyards).
    True there ar ento nso many arable grounds there . But food can be transported via rail. With inevitable climate changes more grounds there will become arable too. Still millions of hectares can be used/reused there. The problem will be people...But as planned economy is returning this can be solved as well Smile


    not the "freshest" one but interesting nonetheless.
    https://thediplomat.com/2019/02/the-dormant-breadbasket-of-the-asia-pacific/

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    Post  GarryB Sat May 07, 2022 9:37 am

    Modern agriculture seems to be going vertical anyway with glass multistory buildings being used to grow food even in urban areas.

    Learning how to survive in Siberia would be a great place to work on reducing waste and increasing recycling and better use of resources that are not naturally abundant and can be abused.

    Climate change seems to be what is going to happen... but it was always going to happen because climate changes all the time anyway... it was significantly hotter than today when the dinosaurs walked the earth and there have been ice ages where you could walk to Asia from Australia and across the sea between Alaska and Russia because so much water was bound up in ice sheets.... all these things happened before we started driving cars and making plastic...

    It s likely that as the earth warms a little all the methane in the permafrost locked in the far north will be released triggering a massive jump in temperature too... the odds are we are in for a hell of a ride and I rather think countries with very large populations are going to struggle... a mass exodus from the equators to the poles will cause all sorts of problems... people near the equator might just need to learn to live underground... or in the water.

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    Kiko
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    Russian Economy General News: #12 - Page 35 Empty Re: Russian Economy General News: #12

    Post  Kiko Mon May 16, 2022 10:41 pm

    Since it's from Reuters, it should be taken with a pinch of salt. However, read between the lines:

    Ruble has its highest price against the euro in five years, 16.05.2022.

    Reuters - the Russian Ruble firmed above 64 per dollar on Monday (16), briefly jumping to 62.71 against the greenback, and rose to its highest in almost five years against the euro, supported by continued restrictions on currency trading.

    The ruble is the world's best-performing currency so far this year, though that's due to artificial support from capital controls Russia imposed to protect its financial sector in late February after sending tens of thousands of troops to Ukraine.

    The situation in the domestic currency market has been the same for several weeks, and the ruble remains firm as foreign currency supply exceeds demand, said Alexander Dzhioev, an analyst at Alfa Capital.

    Central Bank data showed on Monday that Russia's current account surplus more than tripled from January to April to$ 95.8 billion, driven by higher import revenues and a drop in imports.

    "It seems that the breakeven point has not been found so far," Dzhioev said of the ruble rate.

    It was not clear whether President Vladimir Putin's demand for gas payments in rubles also supported the currency's rise.

    "Current capital control measures have brought the ruble back to pre-pandemic levels," Rosbank analysts said in a note, predicting the ruble would fall to 90 against the dollar by the end of the year.
    "In the near future, a new committee on foreign exchange market regulation may adjust these restrictions, but until then, the USD/RUB consolidation may be at the lower limit of the 63.0-70.0 range."

    Against the euro, the ruble rose 1.6 percent to 66.05, remaining close to its strongest level since June 2017 of 64.9425, which touched the Moscow Stock Exchange on Friday.

    Moscow's standoff with the West and fears of a new package of sanctions to punish Russia for what it calls "a special military operation" in Ukraine are in focus. But its impact is cushioned by the requirement that export-focused companies convert to foreign currency and other restrictions.

    "The strengthening of the ruble today may be moderate, but the dollar rate may gradually fall to 62," analysts at Promsvyazbank said in a note.

    Russian stock indices rose the most:

    The dollar-denominated RTS index rose 3% at 1,165.7 points. The Russian ruble-based MOEX index rose 2 percent to 2,354.1 points.

    It is possible that the MOEX index may enter the 2,400-2,500 range this week, Promsvyazbank said.

    Yandex Translate from Portuguese

    https://www.brasil247.com/economia/tublo-tem-cotacao-mais-alta-diante-do-euro-em-cinco-anos

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