It seems like your IQ is so below average you can't comprehend even simple headline -Government expects deficit this year of 2% of GDP on $70 oil this what you need to know from the article you posted - their deficits are so benign with booming economy and oil likely at the bottom I even don't know how to discuss your BS
Yep. It's complicated too. Russia also has revenue from grain shipments- and the good news for them is that grain shipments are not sanctioned. The bad news (even though they like to say that western sanctions have had no effect) is that they complain that the west has messed up their ability to get payment for grain shipments from other countries. The SWIFT payment system etc. So reduced revenue there. So it looks like the Black Sea Grain Initiative/deal is not going to renewed in July so there goes a pantload of revenue. The question I have had has been "but what about all the African countries that Russia is trying to colonize but say that they are beginning to hate Russia's guts as the grain shipment flap causes them to starve." I guess we have the answer on that now. Vlad says they will ship the grain for free "as a humanitarian gesture" to those countries (translation, they are having trouble with payment transactions and the west will not budge). The overall being, that little grain/farm machinery/ fertilizer revenue stream is not looking zippy either- along with the oil revenue woes. Putin is actually taking some extremely heavy hits in Africa these days. He does not have the cash to help some of the countries that he is trying to make dependent on Russia, and where he has the goods to help he has to take a loss to get it there. On top of that, his primary means of strongarming in Africa is/has been Wagner and let us just say that that little relationship has gone south a bit.
Another Russia supporter with English comprehension issues and bad math. "This year's deficit is already 117% of the annual plan." Spending was 26.5% higher year-on-year in that period, the preliminary data showed, while income was down 18.5%. Moscow's crucial oil and gas revenues were 49.6% lower year-on-year in the first five months Russia has spent almost 440 billion roubles covering the deficit from the National Wealth Fund (NWF) so far this year. https://www.reuters.com/markets/eur...s-42-bln-after-slight-surplus-may-2023-06-06/ Do explain how this is a booming economy and benign deficit that they have to call in the reserves.
The both of you can think what you want but it’s true. Russia is/has been using its dollar and euro reserves to prop up the ruble. They have not replaced those reserves but instead have rupees and yuan now. Mountains of them. Of course the problem with that is the rupee is worthless on the international market so it doesn’t serve as a reserve currency. Neither does the yuan but the yuan does give access to the Chinese market where the Russians can buy Chinese crap - meat with worms and cut rate electronics, etc. But the Russians are limited in what and how much they can purchase by the Chinese government. Of course nothing spends like a US dollar than a Euro. Without reserves of that currency, sanctions or not, the Russians have limited access to the high end pharmaceuticals, machinery, tech stuff. As a side note, I don’t mess with gold but I would be pretty bearish on gold right now as the Russians will have to start unloading it almost exclusively in the coming months. The hardest thing right now is for the Russians to get dollars and euros.
Please explain why the rupee and renminbi are worthless in the international market? The rest of what you wrote is full of glaring economic errors and misunderstanding. This is not how financial markets work. But let's start with the first question.
The IRA Troll Factory in St. Petersburg was owned by Prigozhin and has been shut down. All the little trolls are now unemployed. We have not heard from @Master Pu for about a week; he's probably wandering the streets looking for a new job. Russian 'troll factory' accused of interfering in US elections shuts down after exile of Wagner boss https://www.businessinsider.com/wag...-of-interfering-us-elections-shut-down-2023-7 Russia's "troll factory," accused of interfering in US elections, has been shut down. The factory was created by Yevgeny Prigozhin, the now-exiled leader of the Wagner mercenary group. Russia is stripping the Wagner chief of his influence and finances after his short-lived rebellion last week. The Russian "troll factory" used to meddle in US elections has been shut down. The demise of the influential Internet Research Agency came a week after its founder, Yevgeny Prigozhin, led his Wagner mercenary organization on a mutinous march that ended just hours from Moscow. As part of a deal to end the rebellion, Prigozhin was exiled to Belarus. Since then, Russian authorities have moved to strip the Wagner boss of his influence and finances. The Moscow Times reported last week that — with Prigozhin gone — the Internet Research Agency was looking for new management. But over the weekend, the infamous troll farms were officially disbanded, Reuters reported. The United States levied sanctions against the Internet Research Agency in 2018, accusing the group of creating and managing numerous fake online social media accounts, some of which posed as "legitimate" grassroots organizations, interest groups, and even a state political party. Those accounts organized political rallies and used the personal information of US citizens to open financial accounts, which funded the agency's own operations. The US Treasury Department said the effort reached "millions of people." Prigozhin confirmed he created the Internet Research Agency earlier this year, The Moscow Times reported. "I was never just a financier of the Internet Research Agency," he said. "I invented it. I created it. I ran it for a long time." All Prigozhin-owned media also shut down Along with his troll factories, Prigozhin's entire media portfolio closed over the weekend. Yevgeny Zubarev — the director of RIA FAN, a Prigozhin-owned outlet within his larger Patriot Media Group — announced the decision to "leave the country's information space," according to Reuters, citing a video shared on Saturday. The announcement came after Russian news sources reported the suspension of any and all media outlets connected to Prigozhin. Across the board, those media outlets were nationalist and provided "positive coverage of Prigozhin and his Wagner Group" and were often also pro-Kremlin, Reuters reported. Outlets like RIA FAN attacked Prigozhin's rivals, like St. Petersburg Gov. Aleksandr Beglov, Radio Free Europe reported. Nevskiye Novosti, a Patriot Media Group newspaper located in St. Petersburg, announced it shut down on Friday. "Because we cannot continue working on the Russian Internet or fulfill our obligations to our partners and advertisers, I have made the decision in conjunction with the board of the Patriot group to stop publication as of June 30," Nevskiye Novosti chief editor Andrei Krasnobayev told Radio Free Europe. (More at above url)
Neither the yuan nor the rupee are a strong reserve currency. The Russians are drawing down their reserves of dollars and euros to prop up the ruble. Those are facts. Russia is in a pickle with the rupee. You can read more about Russia’s rupee trap here… https://www.bloomberg.com/news/arti...p-is-adding-to-147-billion-hoard-stuck-abroad You can read more about Russia’s problem with increasing the yuan in reserve here… https://carnegieendowment.org/politika/88926 But it’s no secret, you just choose to believe everything is A ok. But I expressed before Russia’s problem is the yuan doesn’t spend like the dollar and the rupee doesn’t spend at all internationally. And this is why the ruble is sliding. There’s only so long the Russians can hang on now.
https://edition.cnn.com/2023/07/03/...in-erin-burnett-interview-intl-cmd/index.html Exclusive: Zelensky calls Putin ‘weak’ and says Russian President’s power is ‘crumbling’