Bank of Russia freezes assets of unfriendly countries for $300 billion

originally posted by: randomuser

originally posted by: stonerwilliam
a reply to: randomuser

How history repeats itself the news item getting rolled out about the massacre in Borodianka is exactly where the Holomodor started in 1932 and where Germany and Russia first went at it inWW2

The more things change the more they stay the same

Something tells me this is just the start of something much bigger and things are not going back to anything near normal

Wow. What a horrible place to have been born the past hundred years or so, at least. Indeed, there is nothing new under the sun. Thankfully, all this mess is soon going to come to an abrupt end.

originally posted by: RussianTroll
a reply to: Vector99

Russian gas cannot be replaced by anyone else. It's not real.

Adjusting for the time required for increased output, Australian and American LNG might fill the void. Also, the UK is turning to nuclear power and renewables for power generation. Finally, how Germany deals with unplugging from Russian gas will be fascinating to see.

originally posted by: xpert11

originally posted by: RussianTroll
a reply to: Vector99

Russian gas cannot be replaced by anyone else. It's not real.

Adjusting for the time required for increased output, Australian and American LNG might fill the void. Also, the UK is turning to nuclear power and renewables for power generation. Finally, how Germany deals with unplugging from Russian gas will be fascinating to see.

Indeed, you guys get a 9 month head start on us but it's gonna be incredible IMO, I remember what it was like the last time the west faced a major supply disruption, and have a lot of family that played a part in it back then.

These are charts for the last 6 months (starting October 9, 2021)



The dynamics of the change in the exchange rate of the US dollar against the Ruble



mainfin.ru...



The dynamics of the change in the Euro exchange rate against the Ruble



mainfin.ru...



Both graphs show that the March surge is subsiding and is approaching normal values.

Usually the Dollar cost in the range of 70-80 rubles (at the peak it price was 120.3785 rubles on March 11). On April 7, it costs 82.5962 rubles.

Usually the Euro cost in the range of 80-90 rubles (at its peak, its price was 132.9581 on March 11). On April 7, it costs 90.5998 rubles.

a reply to: turretless


The ruble no longer has any value outside of russia, putin just declared a value inside of russia.

Nobody else cares what putin declares.

Even china refused to pay for oil in rubles.

originally posted by: PatriotGames4u

The ruble no longer has any value outside of russia, putin just declared a value inside of russia.

Nobody else cares what putin declares.

Even china refused to pay for oil in rubles.

Before that, what was the value of the ruble?

How many goods did you buy with rubles in 2021?

China is not an unfriendly country for Russia and therefore it does not need to buy Russian oil for rubles.

originally posted by: turretless

originally posted by: PatriotGames4u

The ruble no longer has any value outside of russia, putin just declared a value inside of russia.

Nobody else cares what putin declares.

Even china refused to pay for oil in rubles.

Before that, what was the value of the ruble?

How many goods did you buy with rubles in 2021?

China is not an unfriendly country for Russia and therefore it does not need to buy Russian oil for rubles.

The ruble used to be traded in global financial markets because some people did business denominated in rubles, that doesn't happen anymore, because the ruble no longer has any value outside of russia.

And because russia won't let anyone take rubles, gold, or any other financial asset out of russia anymore.

a reply to: BingaTheGreat

The Dollar Ruble valuation had a sharp dip in March that apparently didn't get noticed in the mainstream media.
Being paid in a currency that is recovering is actually quite profitable.
Just another piece to the puzzle.

a reply to: PatriotGames4u

Now the rubles will be needed by those who want to buy Russian gas. (This refers to countries unfriendly to Russia.)

"russia won't let anyone take rubles... out of russia anymore." - I don't remember such statements from Russian officials.

originally posted by: turretless
a reply to: PatriotGames4u

Now the rubles will be needed by those who want to buy Russian gas. (This refers to countries unfriendly to Russia.)

"russia won't let anyone take rubles... out of russia anymore." - I don't remember such statements from Russian officials.

Just the first google link on the subject, I haven't read this one yet.

www.reuters.com...

originally posted by: PatriotGames4u

Just the first google link on the subject, I haven't read this one yet.

I regard this as your disrespect for an interlocutor.

The decision of the Central Bank of Russia to which this article refers can be read on the bank's website.



Bank of Russia eases restrictions for individuals on money transfers abroad

1 April 2022

The Bank of Russia has set new limits for individuals on the amounts of money transfers abroad. During the calendar year, individuals may transfer no more than 10,000 US dollars or an equivalent amount in another currency from their accounts with Russian banks to their foreign accounts or to another individual abroad. When money transfers are made through companies providing such services without opening an account, the monthly limit is 5,000 US dollars or an equivalent amount in foreign currency.

These limits are applicable to residents and non-residents from countries not supporting the sanctions, as well as non-residents from any other countries if they work in Russia under labour or civil law contracts.

As regards money transfers abroad made from bank accounts of non-resident individuals from countries supporting the sanctions who do not work in Russia, as well as bank accounts of legal entities from such countries, these transactions were suspended for six months. Money transfers from Russian brokers’ accounts by non‑resident individuals and legal entities from countries supporting the sanctions were suspended for six months as well.

The amounts of money transfers are calculated at the official exchange rate of foreign currencies against the ruble set by the Bank of Russia as of the date of a money transfer order.

cbr.ru...



By the way, there are errors in the translation.

"During the calendar year, individuals may transfer no more than 10,000 US dollars or"

In the Russian version it says "В течение календарного месяца" - cbr.ru...

It means: "During the calendar month"

From all this we can see that your statement that "russia won't let anyone take rubles... out of russia anymore." is incorrect.

"anyone" are only those who are from countries that support sanctions and don't work in Russia.

originally posted by: turretless

originally posted by: PatriotGames4u

Just the first google link on the subject, I haven't read this one yet.

I regard this as your disrespect for an interlocutor.

The decision of the Central Bank of Russia to which this article refers can be read on the bank's website.



Bank of Russia eases restrictions for individuals on money transfers abroad

1 April 2022

The Bank of Russia has set new limits for individuals on the amounts of money transfers abroad. During the calendar year, individuals may transfer no more than 10,000 US dollars or an equivalent amount in another currency from their accounts with Russian banks to their foreign accounts or to another individual abroad. When money transfers are made through companies providing such services without opening an account, the monthly limit is 5,000 US dollars or an equivalent amount in foreign currency.

These limits are applicable to residents and non-residents from countries not supporting the sanctions, as well as non-residents from any other countries if they work in Russia under labour or civil law contracts.

As regards money transfers abroad made from bank accounts of non-resident individuals from countries supporting the sanctions who do not work in Russia, as well as bank accounts of legal entities from such countries, these transactions were suspended for six months. Money transfers from Russian brokers’ accounts by non‑resident individuals and legal entities from countries supporting the sanctions were suspended for six months as well.

The amounts of money transfers are calculated at the official exchange rate of foreign currencies against the ruble set by the Bank of Russia as of the date of a money transfer order.

cbr.ru...



By the way, there are errors in the translation.

"During the calendar year, individuals may transfer no more than 10,000 US dollars or"

In the Russian version it says "В течение календарного месяца" - cbr.ru...

It means: "During the calendar month"

From all this we can see that your statement that "russia won't let anyone take rubles... out of russia anymore." is incorrect.

"anyone" are only those who are from countries that support sanctions and don't work in Russia.

Why would I go to a russian web site?

This applies to nearly all countries, and the limit is far too small to allow any commercial activities.

Doesn't really matter, there isn't any demand for rubles outside of russia.