₦airaland Forum

Bank of China’s Singapore operation has stopped financing deals involving Russian oil and Russian companies, amid concerns of western sanctions following Russia’s invasion of Ukraine, said a source on Monday with knowledge of the matter.

Bank of China did not immediately comment.

Reuters reported last Thursday that major buyers of Russian oil were struggling to open letters of credit from Western banks to cover purchases or find ships willing to transport Russian oil.

European banks Societe Generale SA and Credit Suisse Group AG have halted the financing of commodities, Bloomberg News reported on Sunday.

https://www.reuters.com/article/ukraine-crisis-swift-commodities/bank-of-chinas-singapore-operation-stops-financing-russian-oil-trades-source-idINL4N2V30WC

It will only get worse!

Longest ATM queue presently in Russia at the moment.

In 6 months time, 1 Naira will be 100 rubble’s

Egungun (Russia) don finally enter express

CoronaVirusPro:
It will only get worse!

Longest ATM queue presently in Russia at the moment.

In 6 months time, 1 Naira will be 100 rubble’s

$1= 87 Rubble just before economic sanctions now it is about 120.

joyandfaith:
$1= 87 Rubble just before economic sanctions now it is about 120.

Worst is yet to come. Sanctions not yet a week old.

Sit back and relax, and watch the movie

“The Financial Nuclear Weapon”

CoronaVirusPro:
Worst is yet to come. Sanctions not yet a week old.

Sit back and relax, and watch the movie

“The Financial Nuclear Weapon”

Fixed. It is even more interesting than military campaign.

When oil benchmarks $200 while gas quadruples, if russia sells for $50.. laws of demand and supply would apply naturally due to inflation in major countries.

When I said it here that Putin and Russia played into the hands of the west I was criticized.
The aim is to cripple Russian economy and render Putin and it's government useless and it's working.
The Chinese are very smart and cunning people. They will never want to have issues with the west because they understand the powers the western allies wield as regards economy.
Las Las, Russian Oligarchs will turn against Putin by surreptitiously financing nationwide protests because non of them will be willing to lose their investment portfolios abroad over one man's superior millitary pride or ego.

CoronaVirusPro:
It will only get worse!

Longest ATM queue presently in Russia at the moment.

In 6 months time, 1 Naira will be 100 rubble’s

Russians better start buying Naira to stay afloat.
It can only get worse economically.