Forwarded from Khazar Dictionary
Sergei Guriev argues that ruble's return to its pre-war exchange rate should not be mistaken as a sign of strength or resilience.
Rather, the currency has benefited from factors that will eventually become major drags on the federal budget and the real economy.
Guriev's argument makes perfect sense. It is not clear what the real value of ruble is because of numerous restrictions put in place by the Bank of Russia.
Russian exporters, for example, are not able to sell 80% of foreign currency inside the country. There is simply no demand because of the imports downfall.
Embargo on oil and gas will effectively kill Russian economy. This is still EU's nuclear option.
Rather, the currency has benefited from factors that will eventually become major drags on the federal budget and the real economy.
Guriev's argument makes perfect sense. It is not clear what the real value of ruble is because of numerous restrictions put in place by the Bank of Russia.
Russian exporters, for example, are not able to sell 80% of foreign currency inside the country. There is simply no demand because of the imports downfall.
Embargo on oil and gas will effectively kill Russian economy. This is still EU's nuclear option.
Forwarded from The Washington Post
Russia broke international humanitarian law in Ukraine, says OSCE report
Russia committed human rights abuses and broke international humanitarian law during its invasion of Ukraine, the Organization for Security and Cooperation in Europe found.
The report from the Vienna-based security body, released Wednesday, dives into attacks on civilian targets in the battered port city of Mariupol and follows President Biden’s declaration for the first time that Russia was carrying out a “genocide” in Ukraine.
“Taken as a whole, the report documents the catalogue of inhumanity perpetrated by Russia’s forces in Ukraine,” said Michael Carpenter, U.S. ambassador to the OSCE, in a speech.
“This includes evidence of direct targeting of civilians, attacks on medical facilities, rape, executions, looting, and forced deportation of civilians to Russia.”
More live updates here.
Russia committed human rights abuses and broke international humanitarian law during its invasion of Ukraine, the Organization for Security and Cooperation in Europe found.
The report from the Vienna-based security body, released Wednesday, dives into attacks on civilian targets in the battered port city of Mariupol and follows President Biden’s declaration for the first time that Russia was carrying out a “genocide” in Ukraine.
“Taken as a whole, the report documents the catalogue of inhumanity perpetrated by Russia’s forces in Ukraine,” said Michael Carpenter, U.S. ambassador to the OSCE, in a speech.
“This includes evidence of direct targeting of civilians, attacks on medical facilities, rape, executions, looting, and forced deportation of civilians to Russia.”
More live updates here.
Forwarded from The Washington Post
Italy freezes $700-million megayacht linked to Putin
ROME — Italian financial authorities said Friday that they have frozen a $700-million megayacht that has been linked in media reports and by anti-Kremlin groups to Russian President Vladimir Putin. But an element of mystery remains: Italy, in its decree, did not say who the owner might be.
The move comes after Italian investigators had raced to investigate the vessel and prevent it from leaving the Tuscan port of Marina di Carrara. The yacht, known as the Scheherazade, had been undergoing repairs since before the Russia-launched war in Ukraine. But earlier this week, it had returned to the water, according to a New York Times reporter who visited the marina, prompting fears the vessel might depart and evade sanctions.
The ship, until the measures imposed Friday evening, would have been free to leave.
Read the full story here.
ROME — Italian financial authorities said Friday that they have frozen a $700-million megayacht that has been linked in media reports and by anti-Kremlin groups to Russian President Vladimir Putin. But an element of mystery remains: Italy, in its decree, did not say who the owner might be.
The move comes after Italian investigators had raced to investigate the vessel and prevent it from leaving the Tuscan port of Marina di Carrara. The yacht, known as the Scheherazade, had been undergoing repairs since before the Russia-launched war in Ukraine. But earlier this week, it had returned to the water, according to a New York Times reporter who visited the marina, prompting fears the vessel might depart and evade sanctions.
The ship, until the measures imposed Friday evening, would have been free to leave.
Read the full story here.
Joseph Ward Clark will go down in history as the first and the only US soldier killed twice in Ukraine 😂
Russian military propaganda 'killed' non-existened US mercenary for the second time! 'First killing' was a month ago in Mariupol where he 'fought' for Azov and yesterday in Rubezhnoe 'along with 6 other US mercenaries'. Russian fakes are so stoopid, a schoolboy can spot them!)))
Russian military propaganda 'killed' non-existened US mercenary for the second time! 'First killing' was a month ago in Mariupol where he 'fought' for Azov and yesterday in Rubezhnoe 'along with 6 other US mercenaries'. Russian fakes are so stoopid, a schoolboy can spot them!)))