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[quote=Anonymous][quote=Anonymous]I know everyone is focused on Biden's exit, but keep an eye at what's going on in Russia right now.  It's not the time to get distracted.

"The country’s seaborne crude shipments have slumped to the lowest since January, and are likely to remain near that level through to the end of August. The shift in flows is a mirror image of Russia’s domestic refining rates, which that so far in July are on track to reach a six-month high."
https://www.bloomberg.com/news/articles/2024-07-19/russia-cuts-crude-oil-exports-to-keep-more-barrels-at-home-for-refiners?utm_medium=social&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-economics&utm_content=economics&utm_source=twitter

What does this mean?  Without the currency inflow from oil exports, the value of the Ruble should plummet for as long as Russian exports are curtailed.  No Russian oil exports = no demand for Russian Rubles to pay for the oil.  Although the Kremlin claims it's not dependent upon imports to survive, this isn't 1950.  Anything that Russia does not domestically produce will correspondingly skyrocket in price.

My guess is this is why Nabullina said "payment methods should be a 'state secret'", since it allows accurate measurement of Russian imports.
https://www.businessinsider.com/russia-economy-banker-kostin-payment-mechanisms-state-secret-sanctions-2024-7

Take a hard look at what Russia is doing arming the Central Bank leadership.  The Russian Central Bank is the equivalent of the Federal Reserve Bank.  It's like giving Ben Bernanke an AR-15 to carry around to board meetings, or outfitting Jerome Powell with a pistol.

[img]https://pbs.twimg.com/media/FcjRf8QXEAYsOhx?format=jpg[/img]

This is not normal folks.[/quote]

Give it a year to lift the sanctions, at least the key ones [/quote]

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