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Old 2nd January 2015, 11:15   #341 (permalink)
TCJ
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Re: Russian Sanctions

Sanctions are now biting into the Russian economy. Interest rates remain at 17% and the CB continues to throw foreign currency reserves at maintaining the value of the rouble; but it continues to sink and is currently at 61 RUB :1 USD the worst it has ever been except for those 5 crisis days in December. Because Russian companies have sanction barriers against against borrowing over 90 days from Western banks they are paying some of the highest interest rates in the world. Inflation shot up 11.4% in December and is predicted to get higher. Putin's counter sanctions against EU imports have seen 15.4% inflation in foodstuffs.

Normally Russia's under-performing economy is bailed out by oil. But for this to work oil has to be over 100 $/barrel; this morning Brent crude is under 57 $/barrel.

Odd that Putin didn't mention any of this in his annual review, isn't it?

Some of the info I used can be found here:
Russia To Burn More Of Its Currency Reserves, Barclays Predicts - Forbes

Last edited by TCJ; 2nd January 2015 at 11:41..
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Old 2nd January 2015, 13:14   #342 (permalink)
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Re: Russian Sanctions

And we have cheaper fuel because of it
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Old 2nd January 2015, 15:12   #343 (permalink)
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Re: Russian Sanctions

Is Russia overstretching itself? - Opinion - Al Jazeera English


It's a very interesting question. Is Russia overstretching itself?

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Old 2nd January 2015, 15:51   #344 (permalink)
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Re: Russian Sanctions

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Originally Posted by Bill & June View Post
Is Russia overstretching itself? - Opinion - Al Jazeera English


It's a very interesting question. Is Russia overstretching itself?

Bill.
Seems the ECB is about to prop up the Eurozone, could all be elated.

Mario Draghi's QE hints send the euro to a four-year low - Telegraph
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Old 2nd January 2015, 16:00   #345 (permalink)
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Re: Russian Sanctions

DANGER: The Mighty Dollar Is Coming for YOU

And not just the Euro, according to this financial soothsayer ("Woe, woe, and thrice woe!"). Holding Lira? Sell them now. Buy dollars.

The year of dollar danger for the world - Telegraph
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Old 2nd January 2015, 16:00   #346 (permalink)
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Re: Russian Sanctions

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Seems the ECB is about to prop up the Eurozone, could all be elated.

Mario Draghi's QE hints send the euro to a four-year low - Telegraph





Spurs,
They may possibly be related, and I do believe that the Euro is going down the pan, but it doesn't answer the question. Is Russia overstretching itself?

Bill.
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Old 2nd January 2015, 16:12   #347 (permalink)
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Re: Russian Sanctions

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Spurs,
They may possibly be related, and I do believe that the Euro is going down the pan, but it doesn't answer the question. Is Russia overstretching itself?

Bill.
I think Russia is overstretching, just like the whole of the EU seems to be.

Its a case of who streeeeeeetches the farthest, interesting that the US seems happy.
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Old 2nd January 2015, 16:14   #348 (permalink)
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Re: Russian Sanctions

Navigating Russia's imploding economy - Features - Al Jazeera English





Apologies for back to back, but this article brings to life the reality of what it means to be an ordinary citizen in Russia. Mainly due to sanctions and low oil prices.

Bill.
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Old 2nd January 2015, 21:32   #349 (permalink)
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Re: Russian Sanctions

And not just the Euro, according to this financial soothsayer ("Woe, woe, and thrice woe!"). Holding Lira? Sell them now. Buy dollars.



Turkey's residency permits are charged in US$ equivalent lira prices so that's another hidden increase.
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Old 4th January 2015, 08:12   #350 (permalink)
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Re: Russian Sanctions



Russia Prepares for Lengthy Confrontation with West

Russian politics in 2015 will continue to be shaped by two simultaneous crises, external and internal. While the external crisis affecting Russia — the conflict with the West over Ukraine — is attracting global attention, the internal crisis goes largely unnoticed or, even worse, is erroneously viewed as the result of Western sanctions…

Analyst: Russia Prepares for Lengthy Confrontation With West, Economic Restructuring
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