DerrickzB:
Russia outweighs all NATO countries!! Take it to the bank!!

Biodun556:
Nigeria want Naira to add value, Russia wants to devalue Rubble

When your export is far more than import, you will want to devalue your currency to make your exported products cheaper

seunny4lif:

I swear
Imagine billions of dollars, Nigeria would have made if only we have our own refineries that are working.
I’m still surprised that UAE imports Russia oil and gas, as in a whole UAE.
All oil producing nations are cashing out but only Nigeria is going other way.

Russia made over €90B within 4 months X3 more than they ever expected and even Norway have made around €16B, the biggest offer.
This war will not end in 4 years time

DerrickzB:
Russia outweighs all NATO countries!! Take it to the bank!!

seunny4lif:

That’s the advantage of having almost all things in your country.
If you have Wheat, Diamond, Oil, gas and massive land for agriculture then you will control everyone.

Biodun556:


Russia has all the resources you can find in any part of the World in abundant

Biodun556:


I pity Ukrainians for entrying this war without exhausting all options

Biodun556:
The strong rouble raised concerns among officials and export-focused companies as it dents Russia's income from selling commodities and other goods abroad for dollars and euros.


Many Russian companies, primarily non oil-and-gas exporters, are already suffering financially, said Evgeny Suvorov, an economist at CentroCreditBank.

Finance Minister Anton Siluanov said Russia could cut state spending and channel funds for foreign currency interventions to keep a lid on the rouble's strengthening which threatens budget

MOSCOW, June 29 (Reuters) - Russia may start buying the currencies of "friendly countries" and use those holdings to influence the exchange rate of the dollar and euro, as a means of countering sharp gains in the rouble, its finance minister said on Wednesday.

The rouble has soared to seven-year highs, boosted by capital controls that include curbs on Russians withdrawing foreign currency savings, thereby eating into Russia's export income by denting the value of dollar and euro proceeds from sales abroad of commodities and other goods.


https://www.reuters.com/markets/currencies/russia-could-cut-state-spending-fx-interventions-says-finance-minister-2022-06-29/

pacino26:


Na to cash am be my wahala now

In one kwantri like that the highest currency is almost equivalent to tissue paper and the cost of production surpasses its value.

seunny4lif:

That’s the advantage of having almost all things in your country.
If you have Wheat, Diamond, Oil, gas and massive land for agriculture then you will control everyone.

Drenimarcus:
I was reading it last week that Russia supplies Belgian breweries the bottles for their beers. Due to the sanctions, Belgian breweries cannot import the bottles. They opted for aluminum and guess what? Russia supplies those as well

Belgian breweries are at the verge of bankruptcy according to the article.

Na to find one small $$$ go invest for Russia. Thank God, $$$ is a bit surplus to the Rubles.

RiceProducers:


Now Russia don dey get sense. Shebi dem and their usual ignorant admirers were boasting about Rouble value before.
Dem for crash their economy badly.
They should alsobstop the idiocy of insisting on Rouble for payments. It is not going to kill the dollar. The entire Russian economy is less than Texas GDP.
If your exports are not cheap on the global market, people won't buy them because you are Russia. Also young 3rd world dwellers fawning over Putin should grow a brain. Economics is business not sentiments. The US and EU bought more Russian oil a few days after the heavy sanctions. They bought it at heavy discounts that Rusdian was forced to sell at. E get why.
Your ajegunle sense may not understand it.

Now they have cornered large %age of the demand for Russian oil and gas, they are forcing Russia to a price cap. At the same time they are developing alternatives at a furious pace. They want the hits to be sudden abd China or India cannot help. Maybe Rusdia should have restricted oil sales to only their friends but it means losing cash and the US had just seized Rusdian foreign reserves.

If you are an admirer of Russia, you need to control your inferiority complex for the US and think intelligently.

This funny story about beer cans and glass bottles is simple managerial economics.
Pls think and stop being inferior.
Russia has cheap gas. When Russia was part of the west ( and believe me Russia is still part of the West in a way) it made no sense to import gas from Russia to make glass bottles and beer cans in Belgium.
The world was perfectly globalised and efficient just 4 months ago and Russia was part of the system. Russia's richest people had all, not some of their money in the west.
Russias comparative advantage was natural resources and basic commodities used to make more advanced products in the west.

Russia was dependent on EU countries and US for machine tools, chips, software and other advanced products. It was a simple balanced global system. No need to childishly gloat over it. Even Ukraine supplied many advanced components of Russian weapons..you can research this.