This happens to any energy dysfunctional country. Just like we see here under democrats.
Wrong country. But that’s ok. They all look alike to you, i know
Economics does not change because of borders. Making your country energy dependant is very dangerous as we see how powerful it has made Putin. Putin was/is backing green groups all over Europe to make them dependant on russian oil. Trump was right as usual!
Choices do. It’s all leading to you congratulating Trump on telling Germany that they shouldn’t rely on Russian oil. This is not germany
The UK gets 8% of our oil from Russia, which will be phased out over this year.
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JayJay
106
All our figures are based on a rolling 12 month period as well.
JayJay
107
Russian ruble has not performed well because of underlying economic strength.
Russia created artificial demand for its currency by requiring businesses to convert 80% of foreign currency holdings to rubles and banning cash transfers abroad.
Essentially they are manipulating their currency.
That said, this “in between decoupling” is damaging the ■■■■ out of Western economies.
Either go all in on decoupling and get the pain over with or stop the pretense.
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Yes, we are seeing currency manipulation on a massive scale. NATO’s financial sanctions were intended to crash the ruble. Russia has responded with gas for rubles to ensure it gets receives payment for its natural gas exports to Europe. Europe needs Russian gas and continues to buy Russian gas under the Russian-imposed rules.
Sanctions mean that European exports to Russia have dropped drastically, while higher prices for oil and gas have increased export revenues have gone up. The ruble has gone way up in value as a result.
Russia appears to be winning the manipulation war.
