Schlumberger and Halliburton have stopped all operations in Russia. Good luck maintaining that oil industry.
New York Times: “This is a different kind of exodus — tens of thousands of young, urban, multilingual professionals who are able to work remotely from almost anywhere, many of them in information technology or freelancers in creative industries.” “Russia is hemorrhaging outward-looking young professionals who were part of a global economy that has largely cut off their country.”
Not all as it appears to be true. Extreme liberal media are the biggest liars around. Take the freeze on Russian reserves of $630 billion? Well, it turns out, that is only 1/2 true. Actually, Russia is able to access $310 billion of it. Still a lot of monies to fund the Ukraine war? You better believe it. What else? Remember they were supposedly, pushing the ruble to zero and for Russia to default on their payments? Whoops. Another big fat lie. It turns out US financial institutions did not want to take those huge losses so, $117 million in interest payments the Russians sent thru US banks went thru without a hitch and the bondholders got paid just the same? Russian oligarchs owned $200 billion in Swiss bank accounts. Who knew? Remember too that Ukraine and Russia produces most of the commodities US and European businesses use to produce a lot of things we need. Unless, you can wave a magic wand and make commodities appear out of thin air, you still have to buy it from Ukraine or Russia? Ukraine might be shutdown from access to the Southern part of its country, how it is going to export any commodities? Disruptions alone should send commodities prices much higher.
It turns out that this moron didn't actually read any of the news and is just pushing bullshit as usual to defend Daddy Putin. Nobody made the claims this moron is peregrinating as 'liberal media'. Who said all of reserves were frozen? Russia Lost Access to Half Its Reserves, Finance Minister Says https://www.bloomberg.com/news/articles/2022-03-13/russia-lost-access-to-half-its-reserves-finance-minister-says Another moronic post by smallbrain
(BTW he wrote this on the 18th. On the 19th Halliburton, Schlumberger and Honeywell announced they are stopping all business with Russia) https://zeihan.com/the-end-of-russian-oil/ The Western supermajors have left. All of them. Just as the Ukraine War began, Exxon and BP and Shell have walked away from projects they’ve sunk tens of billions of dollars into, knowing full well they won’t get a cent of compensation. Halliburton and Schlumberger’s operations today are a shadow of what they were before Russia’s previous invasion of Ukraine in 2014. Between future sanctions or the inability of the Russians to pay them with hard currency, those operations now risk winding down to zero. The result is as inevitable as it is damning: at least a 50% reduction in the ability of Russia to produce crude. (No. Chinese oilmen cannot hope to keep things flowing. The Chinese are worse in this space than the Russians.) The outstanding question is how soon? Sooner than you think. It’s an issue of infrastructure and climate.
Fun info about consequences of sanctions. Russia produces its own paper (after all, they have enough forests). But - apparently the chemicals used in paper production come from abroad and are now sanctioned. So, a couple of largest paper factories have stopped production. Printer paper in stores has gone up in price 200%+, and now the schools in St. Petersburg are told to stop any tests that are not electronic.
What about the kind of paper used in ummm ........ bathrooms? https://dailyblocks.tv/r/videos/comments/frp6vm/moscow_on_the_hudson_toilet_paper_scene/