The impact of the West’s sanctions just seems to be getting worse and worse for Russia.
Now, 98% of Chinese banks — even small regional ones — are refusing to accept direct Chinese payment transfers from Russia, Alexey Razumovsky, the commercial director of the payments company Impaya Rus, told the pro-Kremlin media outlet Izvestia.
Such issues appear to have intensified over the past three weeks, as smaller Chinese financial companies were still processing Russian payments in May and June, Izvestia reported.
Last month, the Russian outlet Kommersant reported that about 80% of bank transfers made in the Chinese yuan were bouncing back with no explanation after being stalled for weeks while banks decided whether they could transact.
Razumovsky told Izvestia the payment challenges with Chinese banks could contribute to supply-chain difficulties and inflation in Russia.
Between that, his US lap dog Trump looking like he’s going to lose the elections badly, and Ukraine taking control of more Russian territory in a week than they have been able to take from Ukraine in months, Putin is definitely not sleeping well right now.
The latest national numbers I saw was Harris 48 / Trump 47. That’s not “Trump looking like he’s going to lose badly”.
Well, there’s no way he’s going to lose gracefully
(I know that’s not how you meant it)
I’m honestly quite concerned that his cronies might actually succeed in stealing the election this time around.
They learned from their mistakes.
Last time, Donnie was at the helm, knew it was coming, and deliberately did and did not make certain phone calls that day.
This time, the opposition will be at the helm. And this time, we are expecting it.
If “what they learned” didn’t include diet and exercise (it didn’t), I’m honestly not too worried about how it’ll turn out.
Can we agree on him not being capable of doing anything gracefully? 😁
his US lap dog Trump looking like he’s going to lose the elections badly
Eh, we’ll see. Trump’s “crushing defeat” of Hilary came down to 80k votes in three states. Biden’s “decimation” of Trump was an even-thinner 40k votes across a slightly different mix of three states.
Dems love to snatch defeat from the jaws of victory. Just ask OG Tankie Michael Dukakis, Professional Wife-Kisser Al Gore, and Future First Woman President Hilary Clinton. All three gave up wide margins in the last few weeks of the race.
Would be nice to see Dems run up Reagan/LBJ-esque margins in 2024, but even the best polls still have Kamala in an electoral dead heat despite being miles ahead in the popular vote. She could very easily get Bush v Gore’d in some swing state with a red governor like Georgia or North Carolina or Nevada.
Yes, DO NOT GET COMFY, VOTE NO MATTER WHAT.
Now that I got that out of the way, yes yes yes, it can always be close and I think it will be just like it was close even in 20 goddamn 20, but here’s the thing.
Since the 2020 election:
- january 6
- asking for more votes than he had from governors
- stole confidential docs, lied about it, refused to give it up, was raided and still docs are missing, nuclear secrets shared to fat fucking foreign oligarchs simply because they paid to hang out at MAL. Many of America’s informants and spies started getting captured in disturbing trends out of nowhere…
- SA/Rape case with EJCarrol (judge officially wrote Donny was civilly liable for digital rape because she couldn’t prove it was his penis vs his finger), the multiple defamation cases that followed
- Felony conviction for election interference
- RICO case in Georgia for trying to steal votes
- Killed Roe precedent
- project 2025
- extreme side-effects of his frontotemporal dementia impossible to ignore by even laypeople
- He has said he will be a dictator on day 1
- Spoke about wanting to split up NATO
- Told Netanyahu to finish the job
- Clearly loves Putin, Xi, Kim, Maduro, etc. (dictator fascists, what he dreams of becoming)
- Switches views based on who is paying him (asked oil barons for a billion dollars to destroy whatever regs they wanted, Elon starts donating and Trump tells us he has to shill for EVs now, hated TikTok until Thiel (who owns stock related to TT) talked him into supporting it
I’m happy to provide sources on any of the above points :)
I doubt the Georgia governor would let Trump win because Trump hates him
GA passed laws that gives them the option to ignore the results, just N Carolina did a couple years ago
This is no problem for Russia since their economy is booming! As the tankies on Lenny repeatedly has reminded me, sanctions has no effect att all!
They started buying weapons from N Korea with goats. Nothing signifies a strong economy like hocking food.
Who’s Lenny?
The Russian version of Lemmy
…or auto correct 😁
The guitarist from Notörhead
Lenny Kilnister?!
!Also, Lemmy played bass.!<
Technically still a guitarist
War Economy is still economy. Right? RIGHT?!
laughs in American post-WW2 propaganda
I assure you that a handful of well-positioned arms dealers in Russia are getting extraordinarily wealthy. I just wouldn’t want to be one of the kids of a 20-something young man who has been shipped to the front right now, cause they’re growing up broke as shit.
I mean they were broke as shit before, Russia has been broke as shit since the 90s.
'91 is the year that privatization started in earnest.
Some people have likened the economic growth that Russia is experiencing like that of the US’ post war boom. So, some analysts believe that Russia will be okay for the foreseeable future. I don’t want to sound coping and I still leave room for imagining other possibilities (the war is still unpredictable after all), but those analysts haven’t considered that 1) USA became the sole major free market economy untouched after World War 2 and the rest of the world became reliant on US as the result. 2) USA has not been sanctioned during and after the war by major Western powers, unlike Russia is today.
Russia has already won.
Economy. War.
Wars.
Democracy.
GDP.
Everything.
Why the hell are people downvoting this one, it seems pretty obvious that it’s sarcasm
Granted it does not follow the 3+1 joke formula.
Most be really bad now when China stop helping them lol
Yeah China was staunchly neutral about this war and I suspected was subtly making it worse/prolonging it to keep the west distracted, wasting money, and divided while they put pressure on Taiwan and other interests.
But this is weird. I hope they aren’t doing this to keep funds in the country for their own eminent war.
The slow-moving dildo of sanctions rarely comes lubed.
There is a rumor that a coup had placed Xi under house arrest and had silently taken over the country a few weeks ago. Normally rumors don’t mean anything in most countries. But this is China where anyone speaking out against their leader would mean you’d get “disappeared”.
Supposedly the coup plotters don’t like the direction China has taken and want a return to good relations with the West when everyone was making money.
Moving away from relations with Russia could be a sign of this.
Those rumours have been around for years, every time he drops out of public view for a while
The rumour of coups against Xi always comes and goes. There was rumour of Xi being arrested as well during COVID.
This is from July, but there’s definitely financial shenanigans going on. And if the Chinese economy tanks… https://essanews.com/chinas-banking-turmoil-40-banks-vanish-as-crisis-deepens,7047618605385345a
Press ‘x’ to doubt
deleted by creator
Between this and the looming collapse of the Russian rail network (due to lack of maintenance and supply chain issues for rolling stock parts), it’s finally looking really good for Ukraine. Now we just need Kamala to win so that they keep getting supplies for the campaign.
If everything goes right, Ukraine could topple the Putin regime. Kind of crazy to think about right now though.
The craziest part of all this is that when the invasion of Ukraine started, some of my coworker friends had genuine concerns that pootie was gonna lean on his nukes.
He still might! Suppose this goes on for several more years and Ukraine keeps getting support and gaining more territory. Then they decide to make a run at capturing Moscow, Prigozhin style. Putin might decide that nuking Kyiv is his only chance at stopping Ukraine from toppling his regime!
If there was ever a good time to use tactical nukes, it was now. Since he didn’t there’s obviously a reason, be it their questionable state or them being scared of the west’s retaliation.
Yes or he’s afraid that if he gives the order to fire a nuke it will be refused and then he is finished. Firing a nuke at Ukrainian forces on Russian soil is no trivial matter. You end up destroying Russian towns and civilian infrastructure.
Ukraine’s forces are now spread out too much within the Kursk region. He needed to fire the nuke at the beginning of the incursion. But of course that would’ve been before he had the chance to evacuate all the civilians from the area.
I think the realities of all this prove that tactical nukes are pretty useless as a defensive weapon. They seem to mainly have their use for a surprise first strike.
Gloomy yet plausible 🫨
Though times ahead for them. It took some time, but maybe we are at least close to the end now.
I don’t have a Chinese Riker, sorry.
I tried to make one, but ironically, all the famous Chinese trombone players have copyright protection on their images, so I couldn’t.
But…but…but we are besties, Xi jinping ? - Putin probably
Something’s happening in China. There’s talks that Xi doesn’t appear on official documents anymore.
Maybe a soft coup happened or similar.
That’s a pretty bold statement. Do you have a source?
Maybe I shouldn’t have said that, since there obviously isn’t an official source on it, just some YouTube channels reporting about China that claim it.
Well. They’re claiming it for two years already, but this time seems different.
So it’s not to be taken seriously and is just a gut feeling fueled by the YouTube algorhythms and news like this post.
I suppose time will tell.
was it laowhy86? That’s the only guy I’ve seen talking about it.
Nothing official. Mostly speculation, but not
illogicalidle ones.
Wow, tough break guys. I’d offer to help you out, but all I’ve got is half a roll of quarters and I need to use that for laundry. Good luck though.
Look, I’d help out, but all my donation budget had already gone to Ukraine (and Palestine).
so there’s a hole in the market and I can make a lot of money?
In this instance there would be real consequences
Just gotta make enough money to pay off enough senators before you get punished
meh
Interesting how many things happen if there is a an election campaign coming to a close in the USA
Business Insider - News Source Context (Click to view Full Report)
Information for Business Insider:
MBFC: Left-Center - Credibility: High - Factual Reporting: Mostly Factual - United States of America
Wikipedia about this sourceSearch topics on Ground.News
Why would they not just use cryptpcurrency at this point?
Like, there is a solution right there. I don’t support either of their governments btw but I mean come on, the answer is right there
Lol
This is not the crypto flex you think it is…
Not flexing. Its a way to make decentralized payments.
Why would they not utilize it more? I saw that Russia said they would and then they just keep talking about banks not accepting the cash.
Pass the bong brother!
Why would they not just use cryptpcurrency at this point?
Waiting two hours for my cryptocurrency transaction to process against a third party broker “NoScamSafeTransact.ru” only to discover that I’ve had my wallet hacked and all my funds plundered.
Lol well this depends on the crypto used and its hard to think that bank fees of any kind would be better than to just pay the fee to speed the transaction up.
Also, presumably they would use dummy wallets and not send amounts from their cold wallet with the full amount on it.
Idk, just seems like they deserve the trouble at this point if they can’t utilize the ways around it.
its hard to think that bank fees of any kind would be better than to just pay the fee to speed the transaction up
Paying which fee using what currency to which third party? Hell, can you even get a good conversion rate on Rubles to Yuan, by way of some third crypto broker, at this point? Seems like its the same problem (foreign brokers don’t trust Russian banks to process transactions) with extra steps.
Also, presumably they would use dummy wallets
Adding a fourth point of failure in my Ruble to Crypto to Yuan transaction. What could go wrong?
Idk, just seems like they deserve the trouble at this point
Tell you what. Take $10 and convert it to Rubles. Then convert those Rubles to crypto. Then cover the crypto to Yuan. Then buy something and ship it from China to Russia. And let me know how this experiment ends. Then you can wax poetic about how only an idiot wouldn’t be doing it your way.
But all this is assuming they want to convert it into another currency at all, I was thinking why not just use it in that form for international trade although some of the other comments have explained the dollar amount equivalent wouldn’t be able to exist right now due to mining limits.
But why not use a combination then of crypto, precious metals, and just straight up raw currency. I mean if chinas bank doesn’t want to accept it they could just ship a container with money in it directly to them right?
I mean criminal enterprises move BILLIONS all the time without banks so I don’t see how its so hard for two of the larger nations in the world.
Edit: I’m guessing the conversion into the Yuan would betheissue with sending them straight up cash huh?
I mean criminal enterprises move BILLIONS all the time without banks
That’s totally untrue. In fact, we’ve had a litany of bank scandals - some very recently - involving large scale criminal financial trafficking. HSBC, JPMorgan, and DeutchBank have all gotten flak for processing transactions on behalf of crooked clients. USB is practically legendary for their numbered accounts and anonymous transactions.
No sane country is gonna accept payment in wildcat bank money, and there’s no reason to not continue to use the ruble within russia
Bitcoin has a marked capitalization of about 30 billion USD. A S-400 air defense system costs 1.2 billion USD. So you could trade 25 of those systems using the entire “supply” of bitcoin. Russia calimed to have about 450 of these systems before the war. Even if they would use bitcoin for trading military equipment, cryptocurrency simply does not have the volume to pay for a meaningful amount of equipment.
deleted by creator
Imaginary money you say.
