Beijing predicts Russia can weather the sanctions it’s been hit with in recent days, and that the U.S. and European allies will wind up suffering for supporting Ukraine.
Russia has largely adapted to dealing with punitive financial measures since 2014, when it was penalized for reuniting with Crimea.
Cutting off Russian banks from the SWIFT money messaging system will wind up hurting Europe roughly as much. The U.S. could also incur major costs in the future providing economic and humanitarian aid to allies, and that Europe could be destabilized by large numbers of fleeing Ukrainians. The fierce debate on refugee problems inside Europe could damage its unity at crucial moments.
China could provide some support for Russia to keep the punishments from biting too hard. Chinese companies are expected to scoop up discounted Russian oil if sanctions deter other buyers.
It could also provide a financial lifeline because the People’s Bank of China has a multi-billion dollar currency swap with its counterpart in Moscow, allowing the nations to provide liquidity to businesses so they can continue trading.
Russia has also worked to remove the dollar’s hold over its financial system in recent years -- selling most of its U.S. Treasuries in 2018 -- as it girded for potential sanctions.
Anonymous
12 comments:
The good people of the world should navigate away from the the stranglehold of the evil US monetary system and the Greenback. This is the very first thing the good people of the world must do.
Do not play with the Devil in Disguise. The evil US Empire is a Satanic country. It is a country captured from Native Americans with millions of Natives murdered and massacred by the evil Whitemen sent by the evil Queen of England.
Russia embassy says:
We regret the decision taken by the Singapore government to join Western anti-Russian sanctions that circumvent the UN Security Council and is contrary to the principled position of the country against imposing unilateral sanctions.
We consider it runs against the friendly relations between Russia and Singapore as well as counter to the need of speedy and peaceful settlement of the situation in Ukraine, which the Russian Federation continuously advocates.
Backfires is definite condition because the markets and supply chains are dynamic, not static.
No country can escape repercussion and retaliation.
Small tiny piece of rock like Singapore will be hit hardest. The people are going to suffer because of the arrogance and stupidity of the Singapore Leedersheep.
What bomb? Place at border?
Just keep peace in leadership term and let next leader worry.
China did not stand with Russia.
Superficially it looks like that.
Russia would not dare to take on the Americans and the EU without China's support. Alone, without China, Russia would be crushed.
The world better wake up fast. In recent years, the USA has been using regime changes to create unrest, forcing legitimately elected Governments to crack down on protestors instigated by them, and then using human rights as a reason to punish those Governments.
Now seizing the assets of those other countries is becoming the norm. Venezuela, Afghanistan and now Russia's state and individuals have been targeted for seizure of their assets using 'frozen' to fool the world. This is daylight robbery, and using Mafia logic.
Countries of the world better think deeply and act with open eyes before putting their money in Western Banks, and keeping assets in Western countries, all of which are members of a Mafia gang lead by the USA.
The danger to any country is simple, and it is easy for them to target any country that they think is not towing the line, by supporting political opponents and using fake NGOs to instigate unrest, thereby forcing crackdowns which could lead to sanctions and seizure of assets. And we know they have doggies supporting their actions.
Those so called NGOs, like Amnesty International, Human Rights Watch, etc are devils in disguise, angelic in theory, but they conduct activities that are less than savory on behalf of the White Curse. Think of why the USA alone, apart from the Europeans, have to set aside US$300 million a year to fund those activities.
After Russia, the question is 'Who is next'?
No ASEAN country should trumpet own Ukraine stance
Thai Prime Minister Prayuth Chan-ocha has brushed aside a request from 25 ambassadors in Bangkok, asking his government to take a stand against Russia's invasion of Ukraine.
"We should maintain balance at this point," the prime minister told reporters after a weekly cabinet meeting on Tuesday.
With the exception of Singapore, which has forcefully denounced the invasion, much of Southeast Asia has responded with little more than cautious expressions of concern. Thailand came under pressure to change that on Monday, when the envoys visited Thani Thongpakdi, the permanent secretary for foreign affairs.
The ambassadors represented a long list of nations: the U.S., U.K., Japan, Canada, Norway, Australia, France, Germany, Spain, Finland, Greece, Ireland, Hungary, Belgium, Czech, Italy, Luxembourg, Netherlands, Austria, Poland, Romania, Slovakia, Sweden, Denmark as well as the European Union. Together, they urged Thailand, as a member of the United Nations, to speak up for the rules-based international order and denounce the invasion as a violation of the U.N. charter.
The kingdom has stuck to neutrality since the invasion began last Thursday. The Thai foreign ministry expressed deep concern over the escalating tensions while supporting a peaceful settlement through dialogue. The Association of Southeast Asian Nations on Saturday published a statement with a similar tone.
In rebuffing the ambassadors' request, Prayuth used the bloc's statement as cover. "It's a regional matter now," he said, arguing that countries should avoid trumpeting their own stance once ASEAN has clarified its position.
Sawadeekap Comrade. You want, I give you happy ending.
Thailand is in the process (or already have) of passing a law to require NGOs to disclose the source of their funding, because the Thai Government is aware that such NGOs are funded by many entities in the West, that were formed ostensibly to promote human rights and freedom, but are actually fronts to help instigate regime changes by you know who. Such NGOs have links to many unsavory entities, like NED, Amnesty International, etc whose objective is promote the USA's agenda of provoking unrest and spearheading protest to topple legitimately elected Governments that are deemed unfriendly to the USA.
In Thailand, even the monarchy has been targeted for removal, really unthinkable, as the Thai King is well respected and is invariably the backbone of the Thai Government. The King's hand had always been the unifying and steadying guiding light over many a coup.
As long as countries like Myanmar, Laos, Cambodia and Thailand have strong leaders, the USA cannot ferment unrest that easily. Countries with weak leaders will succumb to foreign control and usage and fall or thrown under the bus when that is done.
Singapore's pro-Western bias stance sticks up like a sore thumb. It has definitely divorced itself from ASEAN.
In the future, Singapore cannot expect ASEAN to come to its rescue if the Evil US forces decide to throw Singapore under the bus.
China and Russia must always remember this double headed snake that speaks with fork tongue.
No one should ever trust the words of a double headed snake.
Shouldn't ASEAN kick strongly pro-West Singapore out of the grouping ?
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