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Russian Sanctions and Global Economic Risk

submitted by eric3579

2 years 2 months ago

sanctions
, Russia

The sanctions on Russia’s financial system were used to deter Putin from further escalation in the war, but what are the risks?

1 Comment

vil

says...

We are not hoping Putin will reverse his course, we are hoping (rich elite and military) Russians will decide they would be better offf without war and threatening to destroy the world.

Switching of SWIFT is not a total ban on transactions but is very annoying for russians.

Dependency of Europe on Russian oil and gas is a direct security danger, they do use it to extort (and bribe - see Mr. Schroeder) the west.

China gets paid mostly in dollars, it would be a pain for China to use anything else to buy oil and gas. But nothing is ever certain forever.

Russia will need dollars in any form, even if they have to be black market dolars so they will gladly take Chinese payments in dollars. Also their stock market and currency is... f***ed.