No shipping either

Discussion in 'Economics' started by terr, Mar 1, 2022.

  1. Binance, Coinbase, Kraken, etc. all claim they will do everything in their power to still support Russian accounts and they will refuse to freeze assets.
     
    #71     Mar 5, 2022
  2. terr

    terr

    Visa and Mastercard announced they are stopping operating in Russia. American Express announced the same a couple of days ago.

    This means that Russian banks' cards will not work abroad, and foreign cards won't work in Russia. Russian-issued cards will still work inside Russia.
     
    #72     Mar 5, 2022
  3. easymon1

    easymon1

    gderg.jpg
     
    #73     Mar 5, 2022
  4. I'm not TOO worried just yet. I'll save my stress for when the ICBMs start flying...
     
    #74     Mar 5, 2022
  5. NoahA

    NoahA

    The shitty thing is that poor people will be hit first. The rich have enough reserves of stuff and can wait out for a resolution longer. So in order for them to start to feel it and hence push for change, it will mean an extended freezing of financial services. I'm sure there is enough caviar to last months. When it runs dry is when we might see a push for a resolution.
     
    #75     Mar 5, 2022
  6. Well there are many more shitty things. For example, historically speaking, these type of sanctions tend to cause even more people in a country to fight on and harder with determination, hence doing the exact opposite that was intended in the first place.

    We shall see if "this time it's different!"
     
    #76     Mar 5, 2022
  7. easymon1

    easymon1

  8. Overnight

    Overnight

    Indeed.

     
    Last edited: Mar 5, 2022
    #78     Mar 5, 2022
  9. terr

    terr

    Paypal stopped operations in Russia.

    It is being reported - https://www.kommersant.ru/doc/5240878 that one of the biggest internet ISP and colocation providers, Cogent Communications, is telling Russian Internet companies to remove their servers from their colocations within a month.

    The affected companies: Yandex, Rostelecom, Vympel, MegaFon and Vkontakte - the biggest Russian Internet companies.

    In other news: https://www.ft.com/content/8c1b2c0b-0dfc-4bdf-9203-7407aa96cb8f

    Canada, US and UK move to strip Russian representative of IMF board title
     
    Last edited: Mar 6, 2022
    #79     Mar 6, 2022
  10. terr

    terr

    About Russian agriculture. From my Russian sources (I may screw up terminology, not an expert in translating the technical stuff):

    Grain seeds are 40-45% imported. The equipment used to work the fields - US, Germany, Holland. All the pigs are bred from imported materials, the feed comes from abroad, all the vitamin/mineral supplements come from abroad, and all the slaughter/processing/packing plants are 100% imported equipment. Same situation with chicken production.

    Milking equipment - all imported. So is the refrigerating and processing plant's equipment. Even the furnaces/thermo equipment on chicken farms is imported.

    Potatoes, corn, sunflowers, beats - all come from Western hybrid sources outside of Russia and need to be imported to be grown in Russia. Any disruption and Russia has no source materials for it.

    And a lot of that is either already sanctioned or under threat of sanctions.
     
    #80     Mar 6, 2022