Current Affairs Ukraine

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Spadge Vernacular said:
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From the above.

It looks like this: everything up to the insured amount remains in the possession of the person - 1.4 million rubles. Everything above that is converted into shares/capital of the bank. In a similar operation, depositors of the Bank of Cyprus once lost 85% of their savings. By the way, at that time they were also mostly rich russians.
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1,400,000 Russian Ruble is £11,135

Maybe Vlads inner commie thinks the proletariat do not require savings.
 
Spadge Vernacular said:
Oh no!


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All the talk about the central bank of Russia freezing deposits seems a bit sensationalist at this point tbh.

Putin is a lot of things, but he's smart enough to listen to his financial experts as he understands that's needed for him to continue with his plans.

He still gets enough money for natural resources from the West to pay for military expenses.
EU has paid Russia almost 200 billion euros in years 2022-2024 for gas alone.

As for the food inflation - salaries for the lower class have almost doubled since 24.02.2022 because there is a lot a work in the military related sectors.

Don't expect the Russian economy to collapse any time soon. The worst will probably come after the so-called special military operation ends when
 
ftk43 said:
All the talk about the central bank of Russia freezing deposits seems a bit sensationalist at this point tbh.

Putin is a lot of things, but he's smart enough to listen to his financial experts as he understands that's needed for him to continue with his plans.

He still gets enough money for natural resources from the West to pay for military expenses.
EU has paid Russia almost 200 billion euros in years 2022-2024 for gas alone.

As for the food inflation - salaries for the lower class have almost doubled since 24.02.2022 because there is a lot a work in the military related sectors.

Don't expect the Russian economy to collapse any time soon. The worst will probably come after the so-called special military operation ends when
Click to expand...
I think that you have hit the nail on the head. I have seen the war described as a race between which will run out first- Russia's economy or Ukraine's men.

I don't think it's that simplistic but there's a definite a propaganda push to try and say Russia is about to go belly up but that's a long way off but there are problems in that pipeline (pun intended) and I worry that the consequences don't damage the EU and the UK as well.
 
ftk43 said:
All the talk about the central bank of Russia freezing deposits seems a bit sensationalist at this point tbh.

Putin is a lot of things, but he's smart enough to listen to his financial experts as he understands that's needed for him to continue with his plans.

He still gets enough money for natural resources from the West to pay for military expenses.
EU has paid Russia almost 200 billion euros in years 2022-2024 for gas alone.

As for the food inflation - salaries for the lower class have almost doubled since 24.02.2022 because there is a lot a work in the military related sectors.

Don't expect the Russian economy to collapse any time soon. The worst will probably come after the so-called special military operation ends when
Click to expand...
I was reading a piece earlier (below) that provided a comprehensive situation analysis and drew a reasonable conclusion that Russia is about to face a moment of truth, in 2025.

www.project-syndicate.org

Putin’s War Is Fueling Russian Stagflation | by Anders Åslund - Project Syndicate

Anders Åslund thinks a weakening economy will soon become a serious constraint on Vladimir Putin’s war machine.
www.project-syndicate.org www.project-syndicate.org
 
Spadge Vernacular said:
From the above.



1,400,000 Russian Ruble is £11,135

Maybe Vlads inner commie thinks the proletariat do not require savings.
Click to expand...

I can't believe what they can get away with. Then I suppose when your nation has only nominally had democracy for less than a generation you perhaps just accept anything the government says or does. It does rather make the UK NI hike for employers seem less of an issue and puts firmly into perspective.
 
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