I take it India will not be buying much Russian oil in the future. India can buy as much Russian oil as it wants, Yellen says. The caveat: it can't use Western insurance, finance and maritime services. https://finance.yahoo.com/news/india-buy-much-russian-oil-074054670.html
Vlad be in a bit of squeeze with regard to Asian demand for oil. India is jittery and not sure how it wants to go. Plus he already has discount contracts with them so he is already working for peanuts. Ditto for Chinese contracts. China's demand is down because they are switching to so much coal, also covid restrictions, and in addition, their economy is softening even if they were completely open. China has already stopped majorly reduced deliveries from the Saudis and stayed with Russia but, as discussed, that is not pretty. Everyone has Vlad working for peanuts even if India does find a way to get deliveries. As Yellen said: "The G7 is counting on the price cap to slash the amount of oil revenue Russia will be earning, even if demand for the fuel persists. Russian oil "is going to be selling at bargain prices and we're happy to have India get that bargain or Africa or China. It's fine," Yellen said." Vlad not going to fund his war machine that way. But..but..but the ruble. Yeh, okay, whatever. The ruble buys you more borsht these days. Welcome to the Worker's Paradise.
Who is buying this crap debt --- which is obviously going to be defaulted upon. Russia ‘borrows $13.6bn in largest ever debt issuance in a single day’ to continue faltering war In its latest intelligence report, the Ministry of Defence (MoD) warned that the cash raised is a ‘key mechanism to sustain defence spending’ https://www.standard.co.uk/news/wor...y-of-defence-vladimir-putin-war-b1041151.html
Russia's biggest talents flee to Israel, seeking freedom from Putin's repression NPR - https://tinyurl.com/mtbd9sxf
Who is buying it is one question, but why does Russia need it is another. Don't we keep getting repetitive posts from the usual suspects about how they are rolling in cash these days from all the energy revenue?
Putin and his close "friends" are quickly trying to steal what they can before running to the Central African Republic. So all money coming in disappears in their pockets. They don't want to spent that money anymore on a war.
Yandex moving out of Russia -- that some fine policy you have there, Pootie Poots. Russia's ongoing invasion of Ukraine is pushing out one of Russia's biggest tech giants https://news.yahoo.com/russias-ongoing-invasion-ukraine-pushing-015212692.html?fr=sycsrp_catchall Yandex, Russia's biggest tech giant, wants to cut ties with the country, according to the NYT. Yandex's parent company has concerns about the impact of the Ukrainian war on its businesses. The exit could deliver a blow to President Putin as he focuses efforts on homegrown tech and goods. Russia stands to lose its biggest tech company, which would throw a wrench in President Putin's plans to foster Russian-grown alternatives for Western technology. Yandex, often referred to as Russia's Google, is the country's largest internet business best known for its search browser and ride-hailing apps. But its Dutch-based parent company, Yandex N.V., wants out of Russia because of the potential negative impact the Ukrainian invasion could have on its business, according to a report by The New York Times. The exit of Russia's biggest tech company would deliver a blow to Putin, who has made a concerted effort to produce Russian technology and goods as sanctions cut access to Western suppliers. Yandex N.V. said Friday that its board had "commenced a strategic process to review options to restructure the group's ownership and governance in light of the current geopolitical environment." These options, Yandex said, included developing some of its international divisions "independently from Russia" and divesting "ownership and control of all other businesses in the Yandex Group." The company added: "This process is at a preliminary stage." The Bell, a Russian media group, had earlier reported that Yandex N.V. would move its new businesses and most promising technologies — including self-driving cars, machine learning, and cloud-computing services — outside of Russia, the Times reported, citing two anonymous sources familiar with the matter. Those businesses would need access to Western markets, experts, and technology, all of which is unviable while the Russian invasion of Ukraine rages on and Western sanctions remain in place. However, the decision to move Yandex's fledgling technology businesses might not be up to its parent company. The firm will have to get the Kremlin's approval to transfer Russian-registered tech licenses outside of the country, The Times reported. Plus, Yandex's shareholders would have to approve the broader restructuring plan. Russia's tech sector takes a beating amid Ukrainian war Yandex's business, once hailed as a rare Russian business success story, has struggled since the invasion of Ukraine. The tech giant's story is not unlike those found in the Silicon Valley. Yandex employed more than 18,000 people, it was worth more than $31 billion, and is often referred to as the "Google of Russia." It even had offices in downtown Palo Alto, California, at one point. But since Russia's invasion of Ukraine, thousands of Yandex employees have left Russia, and the price of the company's New York-listed shares lost more than $20 billion in value almost immediately after the war, before Nasdaq suspended trading in its shares. Meanwhile, Yandex's Moscow-listed shares dropped 62% in the past year. Yandex's misfortune mirrors other Russian tech companies, which have struggled in the face of Western sanctions and the exodus of tens of thousands of Russian IT workers, according to an Al Jazeera report. It's something even Putin can't deny, admitting that the Russian IT sector will experience "colossal" difficulties as the US and 37 other countries restrict Russia's access to technologies, like semiconductors and telecommunications equipment, via export controls. Untangling Russia's reliance on the global economy has been an uphill battle for the country, even before the Ukranian invasion and its sanctions. In 2015, the Kremlin tried to stop all government bodies from using foreign software, but by 2019 only 10% of state-used software was Russian made. Russia's not just dependent on foreign tech, either. More than half, or 65% of Russian businesses relied on imports for their manufacturing, according to a 2021 note from Russia's central bank. From cars to office paper, most companies involve foreign providers some place in the supply chain.
As discussed in earlier days, Russia will not end be able to be able to resurrect even the Moskvitch. That they will either end out with nothing or end out importing Chinese cars. Looks like a little of each. Idiots. Russia is a colony of Bejing now. Might as well get on with it and they are. As all of their mass transit buses and trains from Europe shit the bed, they will be replaced with Chinese models. Russia’s new Moskvitch car looks identical to Chinese model Revival of the Soviet brand is intended as a symbol of country's resilience to Western sanctions that have crippled its automotive industry https://www.telegraph.co.uk/world-n...-moskvitch-car-looks-identical-chinese-model/
Legitimate firms in India will not be selling Russia parts for planes, trains, and automobiles because all of these are dual use items that can also be used in military gear. And any Indian company selling Russia these items will be sanctioned from selling items to the West -- which represents a large bulk of their revenue. Russia may be able to get some parts via the gray market -- but they probably will need to discount their oil sold to India even more in order to have the Indian government ignore the gray market shipments. Putin's Sanction-Hit Russia Asks India For Over 500 Products To Keep Key Sectors Running https://www.benzinga.com/news/22/11...over-500-products-to-keep-key-sectors-running Amid western sanctions, Vladimir Putin’s Russia has reached out to India to source more than 500 products, including parts for cars, aircraft and trains. What Happened: As sanctions imposed on Moscow for its invasion of Ukraine squeezed Russia's ability to keep vital industries running, the country reached out to India for the potential delivery of essential products, four sources familiar with the matter told Reuters. The report noted that the publication saw the provisional list; however, it is unclear how many of the items from the list will eventually be exported and in what quantity. An unnamed source associated with the Indian government said the request was unusual in its scope. Meanwhile, the source noted that India wants to boost trade with Russia as it eyes to narrow a ballooning trade deficit with Putin’s country. The Russian Ministry of Industry and Trade has also asked large companies to supply lists of raw materials and equipment needed, according to an industry source in Russia. The sanctions imposed by the U.S. and its European allies have crippled supplies of some crucial products in Russia. The country’s aviation sector is facing an acute shortage of parts as almost all planes are internationally manufactured. And its automobile parts market is in the doldrums as all major global automakers have left the market.
India is mucking around in the middle of all this conflict trying to exploit various advantages. But India has a fairly volatile border war with China going on in the north/Kashmir and they have always looked to the U.S. to side with them as things get heated up with the occasional hot war episodes. Not sure who they think is going to help if they are poking the U.S./West. Certainly not Russia. Bejing owns Russia.