Irony of this is that while the aim is to damage Russia, the biggest beneficiary of this will be Murica’s biggest economic rival, China.
Murica also tried to pressure India into not buying Russian oil. And this people is why we need to use other means of trade than the dollar.
As a response to sanctions imposed on Western countries, Russia has introduced embargo of its own on Western companies…
From Reuters:
“Lufthansa is continuously evaluating and optimising its entire route network,” said a Lufthansa spokesperson.
A final decision on whether to cut the connection from Frankfurt, Germany’s busiest airport, will be made in October, said the spokesperson. Lufthansa will operate a daily flight from Munich, Germany’s second-busiest airport, to Beijing.
….
Chinese airlines have been gaining market share on international routes as foreign airlines are deterred by weak China travel demand, rising costs and extended flight times because of the need to avoid Russian airspace.
***
The German and other European flight operators are no longer competitive because Russia closed its airspace to them. Russia did so because of 16,000 sanctions imposed on the former by Western countries in support of Ukrainian Nazis.
Finally…
So, the West has imposed financial and technology sanctions. They have threatened third parties with secondary sanctions if they deal with Russia. This has led to positives, such as I heard the Russian government allowed BTC to be used for international trade. Russia still keeps exporting critical raw materials to the West?
Ursula “100k Ukrainian officers dead, Russians are looting washing machines” von der Leyen is back…
For Indian businessmen…
The biggest buyer of oil products made from Russian oil is the US…
This is a favourite term used by Anatoly Karlin but…
Situation appears to be far worse, the West has far anal pains over Russia than over Iran.
Sanctions are ineffective…
This is not me, vatnik saying it but the manager of Amundi, the largest investment fund in Europe saying it.
From Reuters:
Amundi expects Russia’s gross domestic product (GDP) to grow by 1.5% in 2024 and by 2% in 2025, compared with 0.5% and 1.2% for the euro zone.
“It means that the United States, Europe, Japan, Australia — the major developed countries — are unable to sanction a country effectively,” Amundi’s CIO Vincent Mortier told reporters at a news conference in Paris on the fund manager’s 2024 outlook.
“That’s what it means. We can deplore it, but it’s a reality.”
The impact of the sanctions was visible in terms of asset-freezing for a certain number of people, Mortier said, but not so much on Russia’s imports and exports.
Major emerging economies under the BRICS umbrella (Brazil, Russia, India, China and South Africa) as well as countries like Turkey and Kazakhstan benefited from the sanctions as Russia managed to move its exports away from Western countries, Mortier said.
“It’s a reality check. In the end, if we take stock of the war in Ukraine: Europe has suffered directly and strongly; for the United States (the impact is) neutral; but Turkey, Central Asia and Asia more generally have benefited,” he said.
For many years number of Russians were bemoaning the fact their moneyed class was investing the money made in Russia into real estate and football clubs in the West.
Source (behind a paywall)
From the article:
The Western sanctions got one thing fundamentally wrong, they assumed the relationship the West has with Russia is not only essential but beneficial for the Russians, and the Russians cannot do without it. Nothing can be further from the truth, Russia develops in an opposition to the West, not as its resource appendage.
PS: I have covered the issue of sanctions against wealthy Russian nationals before. But in that case it was legacy oligarchs that moved their assets to the United Kingdom, only to be robbed.
Big things were to happen in October…
1) Vata refers to any patriotic Russian or pro-Russian Ukrainian
This was not the only hopium I found recently.
Nasha Canada 🇨🇦 has again demonstrated they are a bunch of clueless twats.
I just love how our beloved European Union tries to prevent local consumers from buying oil, gas, wood, you name it from Russia. If the gods want punish anyone, he takes away his sanity. I am pro-Russian troll, so all I can do about this is try to survive in Europe and laugh as things around me go to shit…
You see, Europe produces junk with an added value. This is not to say the products are bad but these products depend on primary commodities more often than not coming from Russia, they depend on deliveries made by trucks, which all run on oil. Their makers eat bread which requires Russian gas.
Banning these commodities may cause Russia some problems but in the end, the Russians will find new customers. Their gas and oil prices will not rise, and Russian producers will not suffer from their break with the West. Same cannot be said of us Europeans.
The result of this is nothing but impoverishment of the local population, and the closure of local industries. Out of desperation, they will probably return to burning coal, we have plenty of that still.
UPD:
But in the meantime, Brudermuller described that “It’s not enough that we all turn down the heating by 2 degrees now” given that “Russia covers 55 percent of German natural gas consumption.” He emphasized that if Russian gas disappeared overnight, “many things would collapse here” – given that “we would have high levels of unemployment, and many companies would go bankrupt. This would lead to irreversible damage.” He continued:
“To put it bluntly: This could bring the German economy into its worst crisis since the end of the Second World War and destroy our prosperity. For many small and medium-sized companies in particular, it could mean the end. We can’t risk that!”
As for my home country, the Czech Republic, the Czech economy acts as a subcontractor of the German economy. So, if Germany goes to shit, they will drag us fully into it.
Insomniac Resurrected 