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Filed: Timeline
Posted

The Prince is only one in a rather long list of public figures in Europe that made this rather fitting comparison. Putin's land grab in Crimea was no different that Hitler's land grab of the Sudetenland back in the days. Same plot, same justification, same everything. There's literally no difference to be detected in these two land grabs. The comparison is valid. Which is why it hurts Putin so much.

Filed: Timeline
Posted
Sberbank CEO Says Russia’s Economy Stagnating on Ukraine

OAO Sberbank (SBRCY) rebounded today after the stock dropped yesterday when the lender’s chief executive officer said the Ukraine crisis is hurting the economy more than he expected.

Shares of the country’s biggest bank, which holds about half of Russia’s deposits, fell 0.8 percent yesterday, pushing their loss this year to 20 percent. They jumped 3.4 percent at 10:18 a.m. in New York today while the Bloomberg Russia-US Equity Index of the most-traded Russian shares on American exchanges added 0.9 percent as President Vladimir Putin said Russia will work with the winner of Ukraine’s presidential vote, easing concern a standoff between the two nations will lead to wider sanctions.

Herman Gref, a former economy minister who has been Sberbank’s CEO since 2007, said at the St. Petersburg International Economic Forum yesterday that Russia is facing stagnation this year as international sanctions linked to the six-month standoff in Ukraine curb growth. His comments came as data showed that a slump in fixed-capital investment extended into a fourth month and increases in wages trailed economists estimates. The International Monetary Fund said last month that the $2 trillion economy may already be in recession.

Russia's Pivot to China Won't Reshape Russian Economy

As Ukraine's political crisis poisons Russia's relationship with the West, Moscow is increasingly talking of China as a possible replacement for the European Union as Russia's key economic ally.

Such a pivot would mean Russia exchanging a partnership with the world's most economically developed region for closer ties with another developing nation. How will that shift transform the Russian economy?

Analysts interviewed by the Moscow Times said China can become a good-enough, if imperfect, replacement for the EU in most sectors of Russia's economy, including petroleum exports, technology and investment.

But an alliance with a developing nation would only solidify the economic status quo, they warned, doing nothing for Russia's chances of moving beyond a commodity economy.

Russia admits sanctions are hurting

Moscow- President Vladimir Putin said on Thursday that Ukraine-related sanctions were hurting Russia while one of his ministers said foreign oil and gas companies that quit the country would not be able to return soon.

Putin went further than he had before in acknowledging the impact on the economy of US and European sanctions imposed over Russia's annexation of Ukraine's Crimea peninsula, although he said the damage was not very serious.

russia-bond-yield.png

MICEX-daily.png

Sorry for the dose of facts, carry on.

Filed: Country: England
Timeline
Posted

The oil deal with China post-dates the graphics. Likely, it will stabilise the Russian economy, leaving the sanctions already imposed as little more than token gestures.

Once the Ukraine is forgotten, which, in this age of media immediacy is likely sooner, rather than later, the sanctions will quietly be allowed to lapse, Russia will rejoin "The Club", and Putin will laugh himself silly. :(

Don't interrupt me when I'm talking to myself

2011-11-15.garfield.png

Filed: Country: England
Timeline
Posted

The China deal will not lift Russia out of the recession that Putin has maneuvered the country into this year. It will also not help Russia become a modern economy that has a leg to stand on aside from natural resources. The Moscow Times article that I posted discusses that very point.

I never said it would. :no:

But it will stop the deterioration of the Russian economy, probably long enough for the Ukraine and it's "consequences" to be quietly forgotten. As long as this deal tides Russia over until that happens, I 'm sure President Putin won't be too unhappy. <_<

Don't interrupt me when I'm talking to myself

2011-11-15.garfield.png

Posted

Who gives a flying frig what Putin is or isn't happy about? He's a rotten president and a rotten man, yet some people prefer him to Obama? That's what I call insane.

Refusing to use the spellchick!

I have put you on ignore. No really, I have, but you are still ruining my enjoyment of this site. .

Posted

Why are you so full of hate?

Your interpretation of what my emotional state may be is not relevant so if you can't help yourself conmenting on it, I would suggest you put me on ignore. There's a good chap.

Refusing to use the spellchick!

I have put you on ignore. No really, I have, but you are still ruining my enjoyment of this site. .

 

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