| Russian Economy Getting Hit Hard 10:34 - Apr 27 with 3021 views | blueasfook |
One of my work tasks is to look after monthly Exchange rates that we load into our financial systems.
I get alerts if rates move excessively so we can check them to make sure the movement is correct. This month I have a notification that RUB (Russian Rubles) has dipped -19.81% since last month. In all my time monitoring these rates, I cant recall a more drastic movement.
Poor Ruskies :(
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| Russian Economy Getting Hit Hard on 10:40 - Apr 27 with 2378 views | SaleAway |
And they are now turning the gas off for those that won't pay in roubles in an attempt to prop it up.
Which in turn will drive up the price of gas further, which will add to the cost of living crisis for everyone.
Poor us. |  |
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| Russian Economy Getting Hit Hard on 10:48 - Apr 27 with 2325 views | blueasfook |
| Russian Economy Getting Hit Hard on 10:40 - Apr 27 by SaleAway |
And they are now turning the gas off for those that won't pay in roubles in an attempt to prop it up.
Which in turn will drive up the price of gas further, which will add to the cost of living crisis for everyone.
Poor us. |
Well that's what happens when you have dependencies on fuel from a hostile country. In the UK, i think we get about 3% of our gas from Russia. | |
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| Russian Economy Getting Hit Hard on 10:52 - Apr 27 with 2299 views | BlueBadger |
| Russian Economy Getting Hit Hard on 10:48 - Apr 27 by blueasfook |
Well that's what happens when you have dependencies on fuel from a hostile country. In the UK, i think we get about 3% of our gas from Russia. |
Although, what WE'RE getting is costs passed onto by mainland Europe's nationalised utilities that have bought OUR utility companies. We're still subbing Russian gas, albeit indirectly. |  |
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| Russian Economy Getting Hit Hard on 10:55 - Apr 27 with 2276 views | chicoazul |
How do you fit that in around the burger flipping and getting the chips on? |  |
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| Russian Economy Getting Hit Hard on 11:09 - Apr 27 with 2222 views | ElephantintheRoom |
Depending how you massage the figures that is less of a drop in the currency value than that of the £ due to the Brexit vote - projected to be 1.4€ in a yes vote and 1.1€ on a no vote.
Plus you have to factor in all they stand to gain by their special military operation which will end with them having considerably more of Ukraine than they had before. And when all goes quiet for a few years they can take a whole lot more. | |
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| Russian Economy Getting Hit Hard on 11:22 - Apr 27 with 2189 views | blueasfook |
| Russian Economy Getting Hit Hard on 11:09 - Apr 27 by ElephantintheRoom |
Depending how you massage the figures that is less of a drop in the currency value than that of the £ due to the Brexit vote - projected to be 1.4€ in a yes vote and 1.1€ on a no vote.
Plus you have to factor in all they stand to gain by their special military operation which will end with them having considerably more of Ukraine than they had before. And when all goes quiet for a few years they can take a whole lot more. |
They stand to gain nothing in Ukraine. Even if the war ends and they end up with a reasonable chunk of it - they'll have the cost of maintaining an occupation force there - unless Ukrainian leaders concede some territorial loss. Which I honestly dont think they will.
The west will now move away from dependency on Russian fossil fuels over the next decade or so. So long term, the economic outlook for Russia is not good at all. As the US said the other day, they want to limit Russia's ability to invade further countries and replace military losses so sanctions will probably last for years until Vlad is either gone or promises to behave. [Post edited 27 Apr 2022 11:22]
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| Russian Economy Getting Hit Hard on 11:31 - Apr 27 with 2143 views | mylittletown |
| Russian Economy Getting Hit Hard on 11:22 - Apr 27 by blueasfook |
They stand to gain nothing in Ukraine. Even if the war ends and they end up with a reasonable chunk of it - they'll have the cost of maintaining an occupation force there - unless Ukrainian leaders concede some territorial loss. Which I honestly dont think they will.
The west will now move away from dependency on Russian fossil fuels over the next decade or so. So long term, the economic outlook for Russia is not good at all. As the US said the other day, they want to limit Russia's ability to invade further countries and replace military losses so sanctions will probably last for years until Vlad is either gone or promises to behave. [Post edited 27 Apr 2022 11:22]
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Trouble is, our 'friends' in the Middle-East and the USA are refusing to up their extraction rates, so they are also forcing prices up. (Although Biden did authorise the release of a huge amount of US stockpiled oil). |  | | |
| Russian Economy Getting Hit Hard on 11:36 - Apr 27 with 2135 views | BloomBlue |
| Russian Economy Getting Hit Hard on 11:22 - Apr 27 by blueasfook |
They stand to gain nothing in Ukraine. Even if the war ends and they end up with a reasonable chunk of it - they'll have the cost of maintaining an occupation force there - unless Ukrainian leaders concede some territorial loss. Which I honestly dont think they will.
The west will now move away from dependency on Russian fossil fuels over the next decade or so. So long term, the economic outlook for Russia is not good at all. As the US said the other day, they want to limit Russia's ability to invade further countries and replace military losses so sanctions will probably last for years until Vlad is either gone or promises to behave. [Post edited 27 Apr 2022 11:22]
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Putin's not worried about the impact, he isn't going to stop at Ukraine irrelevant of the state of the Russian economy.
He knows Europe cannot remove itself immediately from Russian oil/gas he doped the Germans etc into becoming totally reliant on it for a few years at least and he only needs a few years to move into other countries. Billions will continue to flood into Russia from Europe for gas/oil paying for the weapons Putin needs.
You only have to look at the meeting he had with the UN yesterday a complete joke, Putin doesn't give a f*** about what the rest of the world thinks. |  | | |
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| Russian Economy Getting Hit Hard on 11:45 - Apr 27 with 2097 views | clive_baker |
| Russian Economy Getting Hit Hard on 11:36 - Apr 27 by BloomBlue |
Putin's not worried about the impact, he isn't going to stop at Ukraine irrelevant of the state of the Russian economy.
He knows Europe cannot remove itself immediately from Russian oil/gas he doped the Germans etc into becoming totally reliant on it for a few years at least and he only needs a few years to move into other countries. Billions will continue to flood into Russia from Europe for gas/oil paying for the weapons Putin needs.
You only have to look at the meeting he had with the UN yesterday a complete joke, Putin doesn't give a f*** about what the rest of the world thinks. |
$1bn a day they're selling into Europe. It's actually higher now than it was before the invasion. Ludicrous. |  |
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| Russian Economy Getting Hit Hard on 11:51 - Apr 27 with 2065 views | BloomBlue |
| Russian Economy Getting Hit Hard on 11:45 - Apr 27 by clive_baker |
$1bn a day they're selling into Europe. It's actually higher now than it was before the invasion. Ludicrous. |
The EU said yesterday it's paid Russia over €35billion for gas/oil since the war started and with other Countries also buying it Putin isnt going to run out of money to fund the war for a long time. | | | |
| Russian Economy Getting Hit Hard on 12:12 - Apr 27 with 1992 views | Swansea_Blue |
| Russian Economy Getting Hit Hard on 10:48 - Apr 27 by blueasfook |
Well that's what happens when you have dependencies on fuel from a hostile country. In the UK, i think we get about 3% of our gas from Russia. |
Damn good excuse to raise the price (profit) on the other 97% though innit. |  |
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| Russian Economy Getting Hit Hard on 12:23 - Apr 27 with 1961 views | Churchman |
| Russian Economy Getting Hit Hard on 10:52 - Apr 27 by BlueBadger |
Although, what WE'RE getting is costs passed onto by mainland Europe's nationalised utilities that have bought OUR utility companies. We're still subbing Russian gas, albeit indirectly. |
This really grinds my gears. Flogging off utilities was something that I never agreed with or bought into at the time. Trying to sell me shares in something I already owned was immoral and plain wrong. I’m sure plenty of ex tory politicians got seats on boards and little brown envelopes, but everyone else has paid for it ever since.
The idea of flogging off the necessities of life for a one off few pounds was mad then and insane now. Same with water, same with council housing, public buildings and everything else these frauds have flogged for personal gain at our expense. Utilities were not theirs to sell, as far as I’m concerned. I bet even now Boris and the clan are scouring around for anything left they can flog - probably to a dodgy Russian on the quiet in the hope the war ends soon.
Rant for the day over. |  | | |
| Russian Economy Getting Hit Hard on 12:45 - Apr 27 with 1869 views | BlueBadger |
| Russian Economy Getting Hit Hard on 11:09 - Apr 27 by ElephantintheRoom |
Depending how you massage the figures that is less of a drop in the currency value than that of the £ due to the Brexit vote - projected to be 1.4€ in a yes vote and 1.1€ on a no vote.
Plus you have to factor in all they stand to gain by their special military operation which will end with them having considerably more of Ukraine than they had before. And when all goes quiet for a few years they can take a whole lot more. |
Having to pacify, occupy and rebuild a shattered country won't be cheap though. Particularly when they'll likely still be under sanctions, the West will be actively moving away from using their fossil fuels supplies and they're paying for an lengthy and costly war. | |
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| Russian Economy Getting Hit Hard on 13:54 - Apr 27 with 1697 views | blueasfook |
| Russian Economy Getting Hit Hard on 11:51 - Apr 27 by BloomBlue |
The EU said yesterday it's paid Russia over €35billion for gas/oil since the war started and with other Countries also buying it Putin isnt going to run out of money to fund the war for a long time. |
So, if they're rolling in dough, why is their economy tanking?
20% wiped off the value of the ruble in April alone. | |
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| Russian Economy Getting Hit Hard on 16:12 - Apr 27 with 1536 views | BloomBlue |
| Russian Economy Getting Hit Hard on 13:54 - Apr 27 by blueasfook |
So, if they're rolling in dough, why is their economy tanking?
20% wiped off the value of the ruble in April alone. |
As I said above he's not worried about the economy he's only worried about having the money for the weapons. Putin has €billions coming in for oil/gas and he's using that to fund his war. | | | |
| Russian Economy Getting Hit Hard on 16:13 - Apr 27 with 1530 views | BlueBadger |
| Russian Economy Getting Hit Hard on 16:12 - Apr 27 by BloomBlue |
As I said above he's not worried about the economy he's only worried about having the money for the weapons. Putin has €billions coming in for oil/gas and he's using that to fund his war. |
If his country's economy's f**ked, there very quickly won't be money for a war... | |
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| Russian Economy Getting Hit Hard on 16:46 - Apr 27 with 1475 views | Rob88 |
At the start of the war I was firmly in the “poor ruskies” camp but now I sympathise more with the many Ukrainians views that many ruskies are complicit in this. | | | |
| Russian Economy Getting Hit Hard on 16:49 - Apr 27 with 1470 views | blueasfook |
| Russian Economy Getting Hit Hard on 16:46 - Apr 27 by Rob88 |
At the start of the war I was firmly in the “poor ruskies” camp but now I sympathise more with the many Ukrainians views that many ruskies are complicit in this. |
Oh yeah, Vlad is very popular in Russia. His approval rating went up to 80% after Ukraine invasion. Though I think it's more to do with the Russian media spin on things rather than blind nationalism. One would hope! | |
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| Russian Economy Getting Hit Hard on 17:12 - Apr 27 with 1395 views | HARRY10 |
| Russian Economy Getting Hit Hard on 13:54 - Apr 27 by blueasfook |
So, if they're rolling in dough, why is their economy tanking?
20% wiped off the value of the ruble in April alone. |
Whatever money is coming in, you cannot simply conjure up weapons and arms overnight.
Russia is doomed to fail, made ever more certain by the longer it goes.
It is dwarfed by NATO, at 145,000,000 people slightly less than France and Germany - and around 40% of the US. Factor in the other 450m others and you can only ever seen on result.
Currently NATO is fighting a war of attrition, by proxy. Reducing Russia's ability to continue by feeding in a supply of, in most cases, superior weapons. It is therefore not in NATOs interest to have it ended, as they want to reduce Ruissia capacity to be a 'player' in world affairs - most importantly in the Middle East.
And with the embargos as they are Russia will not be able to replace it's losses. A war of attrition was what lost Germany both wars, and will do the same for Russia.
Brutal, and horrific, but that is the reality. | | | |
| Russian Economy Getting Hit Hard on 17:17 - Apr 27 with 1381 views | footers |
Many if not most places in European Russia use USD as an unofficial currency anyway. |  |
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| Russian Economy Getting Hit Hard on 18:02 - Apr 27 with 1291 views | SouthBucksBlue |
| Russian Economy Getting Hit Hard on 12:23 - Apr 27 by Churchman |
This really grinds my gears. Flogging off utilities was something that I never agreed with or bought into at the time. Trying to sell me shares in something I already owned was immoral and plain wrong. I’m sure plenty of ex tory politicians got seats on boards and little brown envelopes, but everyone else has paid for it ever since.
The idea of flogging off the necessities of life for a one off few pounds was mad then and insane now. Same with water, same with council housing, public buildings and everything else these frauds have flogged for personal gain at our expense. Utilities were not theirs to sell, as far as I’m concerned. I bet even now Boris and the clan are scouring around for anything left they can flog - probably to a dodgy Russian on the quiet in the hope the war ends soon.
Rant for the day over. |
Add to that the de-mutualisation of pretty much every building society. | | | |
| Russian Economy Getting Hit Hard on 18:07 - Apr 27 with 1269 views | Keno |
Does this mean we are holding Putin by the Rubles? |  |
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| Russian Economy Getting Hit Hard on 18:52 - Apr 27 with 1198 views | Lord_Lucan |
| Russian Economy Getting Hit Hard on 11:09 - Apr 27 by ElephantintheRoom |
Depending how you massage the figures that is less of a drop in the currency value than that of the £ due to the Brexit vote - projected to be 1.4€ in a yes vote and 1.1€ on a no vote.
Plus you have to factor in all they stand to gain by their special military operation which will end with them having considerably more of Ukraine than they had before. And when all goes quiet for a few years they can take a whole lot more. |
I tend to agree that the figures don’t suggest the economy in Russia has tanked however that’s not really the be all and end all - in fact I’m not sure it’s as important as people make out. They have the reserves to do what they want should they need to - although as for the common man and women it could get sticky if there is no food on the shelves ******
As for the UK exchange rate - well, the rate against the Euro is quite strong really. In the early years of the euro the £ was artificially high but then dropped as low as 1.09 in 2008 / 2009 (can’t remember). From memory it was about the same before Brexit as it is now.
Our problem though is the dollar as we pay dollars to pretty much everywhere in the world apart from Europe. Despite a possible resurrection it’s bloody slipping again.
*****Stock up on cooking oil kids - it’s about to run out. |  |
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| Russian Economy Getting Hit Hard on 19:10 - Apr 27 with 1160 views | HARRY10 |
| Russian Economy Getting Hit Hard on 18:52 - Apr 27 by Lord_Lucan |
I tend to agree that the figures don’t suggest the economy in Russia has tanked however that’s not really the be all and end all - in fact I’m not sure it’s as important as people make out. They have the reserves to do what they want should they need to - although as for the common man and women it could get sticky if there is no food on the shelves ******
As for the UK exchange rate - well, the rate against the Euro is quite strong really. In the early years of the euro the £ was artificially high but then dropped as low as 1.09 in 2008 / 2009 (can’t remember). From memory it was about the same before Brexit as it is now.
Our problem though is the dollar as we pay dollars to pretty much everywhere in the world apart from Europe. Despite a possible resurrection it’s bloody slipping again.
*****Stock up on cooking oil kids - it’s about to run out. |
"From memory it was about the same before Brexit as it is now."
or, actually
1.35 - 2016 before Brexit
1.18 - today | | | |
| Russian Economy Getting Hit Hard on 19:16 - Apr 27 with 1148 views | Lord_Lucan |
| Russian Economy Getting Hit Hard on 19:10 - Apr 27 by HARRY10 |
"From memory it was about the same before Brexit as it is now."
or, actually
1.35 - 2016 before Brexit
1.18 - today |
Yeah, quite possibly.
Last week it was just over 1.20. I think 1.25 - 1.30 is about right.
Historically we would look at an average and acceptable rate of €1.20 and $1.60
It’s the dollar that’s the problem. | |
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