The ruble has been on a long slide well before Prigozhin. It will continue as long as they are limited in the dollar and euro markets.
Ahh in the land of the blind the one eyed man must be stupid. You shall learn. Remember what I have taught you. You will understand the world you live in better.
Link to the 50B then you get my link. You made up shit along the way and know nothing about trade finance.
https://thewire.in/trade/indias-tra...n-april-january-2023-on-high-oil-imports-data "Business Standard reported that India had the maximum trade deficit with China at $71.58 billion, followed by Russia $34.79 billion, from April through January 2022-23 (FY23)." $35B in 8 months. Do your math for 12 months. I can give a dozen such links if you like. Now give me your link about the "permission" Russia received from India to exchange any amount of rupees for dollars.
Russia’s difficulties with the rupee here: https://www.reuters.com/markets/cur...tions-settle-trade-rupees-sources-2023-05-04/
No lie there. Also no lie that the ruble hit a 14 month low right after the Prigo-fest, and then recovered a bit when the fest ended. Coincidence? I don't think so.
Shows the entire back and forth re currencies is a non issue. Most trade for Russia is settled in yuan (easily convertible) and now a lot is diverted to other non rupee settlements between Russia and India.
Here are Putin's recent comments on using local currency for trade. Not that Russia has any other choice because they are effectively locked out of dollar market. A defiant Putin renewed calls for countries to trade with Russia using local currencies in his first international appearance after the failed Wagner mutiny https://news.yahoo.com/defiant-putin-renewed-calls-countries-040806343.html Vladimir Putin has touted the use of local currencies — instead of the dollar —for trade. At a trade summit, Putin said 80% of the Russia-China trade is now transacted in the yuan and the ruble. It was Putin's first international appearance since a failed mutiny in Russia two weeks ago. Russia has again touted the use of local currencies for trade — instead of the US dollar — as the country continues to face sweeping sanctions over the Ukraine war. On Tuesday, while speaking at a summit, President Vladimir Putin highlighted Russia's trade with China, which he said is now primarily settled in the Chinese yuan and ruble. This was Putin's first appearance at an international event after a failed mutiny by the Wagner mercenary group two weeks ago. "Over 80 percent of commercial transactions between Russia and the People's Republic of China are made in rubles and yuan," Putin said, according to an official English transcript of his speech at the annual meeting of the Shanghai Cooperation Organization, or SCO — an intergovernmental organization seen as an alternative to Western-led groupings. India hosted the virtual summit. The yuan surpassed the dollar as the most used currency for Chinese cross-border transactions in March this year, per a Reuters calculation of official Chinese data. The Russian currency was used in 40% of all export transactions with SCO countries, Putin added. Founded in 2001, SCO member countries include China, Russia, India, Pakistan, Kazakhstan, the Kyrgyz Republic, Tajikistan, Uzbekistan, and Iran. "I would like to stress that Russia is confidently resisting and will continue to resist external pressure, sanctions, and provocations," Putin said at the summit. Putin's push to move away from the greenback follows sweeping sanctions against Russia that have expelled the country from the US dollar-dominated global financial system. The dollar has been the world's reserve currency since the Second World War, playing a crucial role in the world's trade. The tough restrictions against Russia spooked other countries so much that they are now lining up backup currencies for trade. This de-dollarization play suits China, which has been trying to increase the global circulation of the yuan. Sanctioned countries like Russia and emerging nations like Argentina have recently started using the yuan for trade, primarily with China. Chinese President Xi Jinping also proposed to expand the use of local currencies for trade among countries in the SCO, according to an official transcript of his speech at the summit. Xi said China stands ready to work with all sides, moving toward "the right direction of economic globalization, oppose protectionism, unilateral sanctions and the overstretching of national security, and reject the moves of setting up barriers, decoupling and severing supply chains," according to an English translation of his speech carried by state broadcaster CGTN.
Putin should also conscript the unemployed vatniks from the IRA Troll Center in St. Petersburg and send them to the front. Bloomberg: Russia eyes Chechens, convicts to avoid full mobilization https://kyivindependent.com/bloomberg-russia-eyes-chechens-conscripts-to-avoid-full-mobilization/ Russia plans to send more Chechen fighters and convicts to the front to avoid full mobilization, Bloomberg wrote on July 5, citing European intelligence sources. Reportedly, these reinforcements should help to fill the gap after the exit of the Wagner Group contractors. Chechens and prisoners should provide Russian dictator Vladimir Putin with a more acceptable alternative to a full mobilization, which the dictator is determined to avoid, according to the outlet's sources. The Kremlin announced partial mobilization last year's September as Ukrainian troops were successfully counterattacking in Kharkiv and Kherson oblasts. While Russian authorities announced the end of the mobilization on Oct. 31, reports indicate that Moscow has been continuing the process covertly. According to Bloomberg, Ukrainian advances at Bakhmut's outskirts and the withdrawal of the Wagner fighters from the city in late May forced Moscow to concentrate large forces in the sector. This threatens to overstretch Russian lines, leaving shortages of troops in the occupied portions of southern Ukraine, Bloomberg wrote. Wagner Group's founder Yevgeny Prigozhin had been recruiting convicts from Russian prisons for the drawn-out siege of Bakhmut, which fell to Russian forces at the end of May. According to the mercenary boss, one-fifth out of the 50,000 recruited prisoners have been killed in combat. After Prigozhin's short-lived rebellion on June 23-24, the Wagner Group and its founders were set to leave for Belarus. Ukraine's military intelligence chief Kyrylo Budanov said that the mercenary group will no longer fight on the Ukrainian battlefield. Prigozhin published a statement on June 26, promising "further victories at the front" without providing any further details.