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Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows - Foreign Affairs - Nairaland

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Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by SeeThisLoser: 2:10pm On Mar 02, 2022
The Russian economy is taking "serious blows," the Kremlin acknowledged Wednesday, as the country's growing isolation piles further pressure on its tottering financial system.

Apple (AAPL), ExxonMobil (XOM), Ford (F), Boeing (BA) and Airbus (EADSF) joined a list of companies shutting down or suspending their operations in Russia in response to its invasion of Ukraine and ensuing Western sanctions, and the European arm of Russia's biggest bank collapsed following a run on its deposits. The ruble weakened again to trade at 112 to the US dollar.

"Russia's economy is experiencing serious blows," Kremlin spokesman Dmitry Peskov said in a call with foreign journalists. "But there is a certain margin of safety, there is potential, there are some plans, work is underway."

Peskov was responding to a question about US President Joe Biden's remark in his State of the Union speech that the Russian economy had been left "reeling" from sanctions.

Sberbank (SBRCY), Russia's biggest lender, said Wednesday it was quitting Europe, with the exception of Switzerland, after banking regulators in Austria forced the closure of its Vienna-based EU subsidiary. The European Central Bank had warned earlier this week that Sberbank Europe was likely to fail after depositors rushed to withdraw their money following the imposition of Western sanctions on much of Russia's financial system.

Sberbank said its subsidiaries had faced "an exceptional outflow of funds and a number of safety concerns regarding its employees and offices," the group said in a statement, adding it had been prevented from bailing them out by an order from the Russian central bank.

The banking sanctions are part of a broader package of measures the West has taken, unprecedented in scale against an economy of Russia's importance, with the aim of cutting off funding for Russian President Vladimir Putin's war effort. France estimates that $1 trillion worth of Russian assets have been frozen, including about half of the Russian government's war chest of reserves.

Moscow has responded with a series of emergency measures aimed at preventing financial meltdown, halting the flow of cash out of the country and preserving its foreign currency reserves. The central bank more than doubled interest rates to 20%, and banned Russian brokers from selling securities held by foreigners.

https://edition.cnn.com/2022/03/02/business/russia-markets-economy-sberbank/index.html

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Iamgrey5(m): 2:13pm On Mar 02, 2022
No way

Fake news! Fakes news!

Russia economy is the currently the best in the world

No country can rival it

Am I right my alternative reality junkys?

In History, Europeans have often suffered from various so called strong men that has often tried to expand their territories from the time of Napoleon to Hitler to the USSR.

I believe they see same thing in "little god Putin". Hence, they are being proactive.

It's hypocritical but it's real.

3 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Nonpartisan1: 2:14pm On Mar 02, 2022
Essentially, the West took down Russian finances in one day. The situation is likely to become worse than in 1998 because now there is no positive end. All Russia's capital markets appear to be wiped out & they are unlikely to return with anything less than profound reforms.

The Moscow stock markets have closed & Russian stocks are no longer traded in New York, presumably all 31 soon gone in London. The three big foreign banks in Moscow are likely to withdraw: Raiffeisen, Societe General & Unicredit: No profitable business in sight.

But Nairaland arm- chair supporters feel otherwise grin yeye people.

Wait till the sanctions start weighing in fully.

Putin the coward has lost everything in this careless war he has chosen.

8 Likes 3 Shares

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Nobody: 2:18pm On Mar 02, 2022
Iamgrey5:
No way

Russia economy is the currently the best in the world

No country can rival it

Am I right my alternative reality junkys?
Unfortunately Russia is not in the top 10
https://www.populationu.com/gen/countries-by-gdp
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Prosperous111(m): 2:19pm On Mar 02, 2022
Now USA go dey happy say Dem don get Russian economy

This fight is never between Russia and Ukraine from the start. Now I see what Putin is trying to achieve but he take it too far.

But wait oh why does Americans have a say over another country economy?

And what if China try to invade Taiwan too would all this economy sanction work on them or crippled their economy? I don't think the west can do all this for China Sha.

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Karmaisme(m): 2:20pm On Mar 02, 2022
This is the beginning, I hate bullies.
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by SouthWestBlood(m): 2:21pm On Mar 02, 2022
Russia never see anything.
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 2:21pm On Mar 02, 2022
Suffering neva start and you are already scared and crying.

This is just the beggining..


grin grin
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Iamgrey5(m): 2:24pm On Mar 02, 2022
Wisesaying001:

Unfortunately Russia is not in the top 10
https://www.populationu.com/gen/countries-by-gdp
Not according to alternative reality bro cheesy

In our alternative universe, Putin the saint is fighting for his freedom by invading a much smaller country that has no nuclear weapon


We also strongly believe Russia has the highest gpd only second to America when Trump was the president, but Russia currently holds that record..

grin

Stop following common sense and follow the world of alternative universe where our imagination is reality no matter how absurd they are.

5 Likes 1 Share

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Nobody: 2:25pm On Mar 02, 2022
Iamgrey5:
Not according to alternative reality bro cheesy

In our alternative universe, Putin the saint is fighting for his freedom by invading a much smaller country that has no nuclear weapon


We also strongly believe Russia has the highest gpd only second to America when Trump was the president, but Russia currently holds that record..

grin

Stop following common sense and follow the world of alternative universe where our imagination is reality.


Thanks for the sarcasm.cheers!
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by KingEverest: 2:26pm On Mar 02, 2022
Then they should put pressure on their so called strong man
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Nobody: 2:26pm On Mar 02, 2022
Putin is preventing a future war that would sure have consumed Russia. He is fighting a future war today, zelensky only stupidly allowed his country to be used as pawn...
If Nigeria has tackled Niger and Chad 10 years ago on infiltration and close alliance with terrorism, Nigeria would be better off today.

The battle is alongside exposing the American institutional blakmailing grip on Nations disguised as sanctions. Native independent organizations would be supported by various Governments in mass scale after this battle.

Sanctioned countries by the lord and mighty are growing in numbers, the moment their similarities align beyond their differences, you just might see (SNC) sanctioned nation countries, then the real battle starts.

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 2:27pm On Mar 02, 2022
Iamgrey5:
Not according to alternative reality bro cheesy

In our alternative universe, Putin the saint is fighting for his freedom by invading a much smaller country that has no nuclear weapon


We also strongly believe Russia has the highest gpd only second to America when Trump was the president, but Russia currently holds that record..

grin

Stop following common sense and follow the world of alternative universe where our imagination is reality.




grin grin

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by dangermouse(m): 2:30pm On Mar 02, 2022
Hit them where it hurts

_ James Hardley Chase

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by boyfrank: 2:31pm On Mar 02, 2022
Where are all the Putin fan boys. Mangyalt, Bkayy and the rest. World power is not by weapons and aggression only.

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Help2020: 2:35pm On Mar 02, 2022
Nonpartisan1:
Essentially, the West took down Russian finances in one day. The situation is likely to become worse than in 1998 because now there is no positive end. All Russia's capital markets appear to be wiped out & they are unlikely to return with anything less than profound reforms.

The Moscow stock markets have closed & Russian stocks are no longer traded in New York, presumably all 31 soon gone in London. The three big foreign banks in Moscow are likely to withdraw: Raiffeisen, Societe General & Unicredit: No profitable business in sight.

But Nairaland arm- chair supporters feel otherwise grin yeye people.

Wait till the sanctions start weighing in fully.

Putin the coward has lost everything in this careless war he has chosen.
Who sanctioned US when they killed Gaddafi?

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by helinues: 2:39pm On Mar 02, 2022
They are yet to feel a thing

They should wait till next week before the financial issue go frustrate them, ridiculous high price of goods and services, inability to travel around the world.

Though I understand Russia government is using propaganda on their media stations, but Russians should know better if Navalny can tweet about this issue from prison

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 2:41pm On Mar 02, 2022
Help2020:

Who sanctioned US when they killed Gaddafi?

Typical, we are talking about A, but trust them to start ranting about B.

3 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by PrinceOfLagos: 2:44pm On Mar 02, 2022
Expected
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Northernblood5(m): 2:50pm On Mar 02, 2022
E go shock Putin.

USA is fighting a Calculated war. Soon there will be crisis. People will rise against the government, they will overthrow the government. EU and USA will step in to maintain peace and order by giving them the power to vote who will do their will.

At the end, Russia will become a Democratic state tongue

5 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Christistruth00: 2:52pm On Mar 02, 2022
boyfrank:
Where are all the Putin fan boys. Mangyalt, Bkayy and the rest. World power is not by weapons and aggression only.


IPOB have a special gift for always Supporting the loosing side

The Moment they started cheering for Russia

I knew it would end in Disaster for Putin



My Post from the 22nd of February is below

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by sotall(m): 2:53pm On Mar 02, 2022
Putin is immuned to economic sanctions.

His nairaland cyberdogs will help him build his economy with propaganda

3 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by CharleyBright(m): 2:56pm On Mar 02, 2022
Them never see something.
With all manner of sanctions flying from all angles, Russian economy will almost be stifled and the citizens will hit the streets of Russia in protests and later an uprising that will either turn Putin against his people with iron fists OR make the Russian citizens stage an uprising against his govt to kick him out.
When an economy goes sliding, the masses are badly affected, and when the masses are affected, lawlessness is inevitable.
Let's watch as things unfolds.
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 3:02pm On Mar 02, 2022
Russia is already a weak and very poor country so this is more like the last nail.

Powerful global economies and strong global brand economies are rich because they make money from manufactured goods and exports, they make cars, luxury goods, they manufacture commercial jetliners, cell phones, and other globally known consumer items, but nothing meaningful is manufactured in Russia because they are economically and industrially backward, their only source of power is oil and maybe leftover soviet-era military-industrial complex.

Russia is not known for anything, even South Korea is known for Kia, Hyundai heavy industries, and auto manufacturing, computer chips, Samsung and so on, Russia is known for nothing apart from useless Nuclear weapons that they can not use.

Imagine Russia with all their gra gra crumbling just days after global sanctions, this is because Russia is a weak and vulnerable country with fake farecard and flawed power projection based on military power that's also very flawed, most of their weapons and military hardware are old, substandard and inferior soviet era weapons and hardware, you can see them breaking down and not even making it to Ukraine.

China, their so-called friend is enforcing the sanctions why? Because the Chinese economy depends on the goodwill of the rest of the world so they don't want collateral damage.


This is how weak Russia is as a Nation, the US crippled the Soviet Union by outspending them and history is repeating itself.

8 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 3:04pm On Mar 02, 2022
CharleyBright:
Them never see something.
With all manner of sanctions flying from all angles, Russian economy will almost be stifled and the citizens will hit the streets of Russia in protests and later an uprising that will either turn Putin against his people with iron fists OR make the Russian citizens stage an uprising against his govt to kick him out.
When an economy goes sliding, the masses are badly affected, and when the masses are affected, lawlessness is inevitable.
Let's watch as things unfolds.


I actually see Russians kicking him out and the ICC putting him on trial for war crimes..

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by orohbiro(f): 3:07pm On Mar 02, 2022
Putin we sufer for the loss of lives I go necked swear for am soon sad
Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by helinues: 3:08pm On Mar 02, 2022
NGpatriot:



I actually see Russians kicking him out and the ICC putting him on trial for war crimes..



The truth is only Russians can stop Putin invasion in Ukraine.

The money Putin was relying on to sustain their economy, most of them have been frozen in foreign accounts which Putin didn't see coming.

Like I said above, they are yet to feel a thing

2 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by Gomojamm: 3:09pm On Mar 02, 2022
Russia has lost it. Germany is much more stronger than Russia.

2 Likes

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by nisai: 3:11pm On Mar 02, 2022
Lol. Putin didn't do his mearsures properly before thowing the path of hitler?

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by inoki247: 3:17pm On Mar 02, 2022
There currency jus dey crash more....


You people saying is west propaganda or sanctions av no effect shuld kontinu....

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by SarkinYarki: 3:25pm On Mar 02, 2022
Ofcourse it's expected and great lesson for any serious country

1 Like

Re: Russia Says Its Economy Is Taking 'serious Blows' As Isolation Grows by NGpatriot: 3:27pm On Mar 02, 2022
helinues:


The truth is only Russians can stop Putin invasion in Ukraine.

The money Putin was relying on to sustain their economy, most of them have been frozen in foreign account which Putin didn't see coming.

Like I said above, they are yet to feel a thing

Well said.

We are talking about the financial side of the sanctions, just imagine the other side of if and even the main thing, total isolation.

Russians can no longer compete in any global event apart from ranting at the UN, no more FIFA participation, no more Olympics, they've been banned from Grand Prix events, Putin is no longer a member of many international associations, they even took away his Judo awards and trophies.

Imagine the psyche and emotional trauma of isolation on the average Russian.

5 Likes

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