Russia's Pivot Away From US Dollar Is Not Going According to Plan
newsweek.com
Billions in Russian oil sale profits are stuck in Indian banks, marking a blow to President Vladimir Putin's attempts to stop using the U.S. dollar for trade.
Commodities such as oil, gold and wheat are typically traded around the globe in U.S. dollars, the world's reserve currency.
However Russia's financial system was essentially isolated by Western sanctions imposed after Putin's invasion of Ukraine, making his country unable to make transactions in greenbacks, thus limiting trade.
"Russia's _____ not going according to plan" seems to be the running theme lately.
Only if you live in a propaganda bubble.
You think everything goes according to the plan on Russian side? This “special operation” is the largest clisterfuck imaginable for them.
You only think that getting your defensive line breached and continuing to lose ground 565 days into your 3 day offensive is bad if you're in a propaganda bubble.
No no, it's all part of Putin's 4D-chess masterplan!
[Snorts copium]
No. But it seems ya'll think nothing goes to plan on the Russian side. Which just isn't true, unless you live in a propaganda bubble.
Lol.
Do you not know what the word 'theme' means? I think that's the crux of this issue.
Lol, keep grasping at those straws.
That doesn't even make sense in context. Is English your second language? I'm happy to change how I phrase things.
You're desperate to move goalposts to fool yourself into thinking you're right.
Theme? What? Lol. I never said 'generally.' I never referred to 'trends.' I was talking about specifics. Specifically, you incorrectly interpreted my comment as 'everything goes according to russian's plans.' Which is asinine. I never insinuated that. Just like with your 'theme' argument, you're making stuff up that's easier to argue against because you don't really have a point.
Look, I'm sorry you've fallen for the propaganda. I support Ukraine. I believe they are winning the war. However, that doesn't mean Russians aren't doing anything right, which is what everyone here seems to believe.
If you can't conceive of how much content is being filtered and censored to garner as much support for the war as possible, I literally can't help you. You need more life experience.
So you actually think there's not a general theme of things going poorly for Russia?
There are drones bombing their capital and their currency dropped significantly. International companies are leaving. They're spending LOADS of money and lives and not really getting very far.
What part of that sounds like it's going not poorly, in a general sort of fashion?
I never mentioned what a general theme for russia would or would not be.
This is you making up an argument because you need something to argue against, and it can't be what I'm actually saying.
Since you're going to carry this on forever, you may have the last word.
Goodbye, and good luck. lol.
So they said the theme is bad, you said no it isn't. And now you're saying you didn't say that. And does that make you seem like a clear thinker? Someone whose opinion on the matter should be valued?
It's helped me find a new entry into my ignore list
I just read the whole thread lol, you originally responded “only if you live in a propaganda bubble” to the first comment about things going for Russia being a theme.
Sad to say, you’re incorrect in this chain of comments and are clearly just trying to deflect after making an unpopular reply in the first place.
Go touch some grass.
I'm not who you're responding to, but you may wish to check the first comment in the thread again.
The first comment says "running theme," which most people would interpret to mean generally.
go on then show me the wins
Realistically who doesn't? At least the western type tends to be correct
I guess no ones plan is really working
Modern currencies run on mutual faith in the ongoing GDP of the nation, and the ability to pay at least the interest on debt. Clearly Russia is having trouble with one or both issues.
This is the best summary I could come up with:
Billions in Russian oil sale profits are stuck in Indian banks, marking a blow to President Vladimir Putin's attempts to stop using the U.S. dollar for trade.
Putin has tried to get around this by selling oil to countries such as China and India in their local currencies, the yuan and rupee respectively, raising fears this would undermine the strength of the U.S. dollar abroad.
"India operates a partially convertible capital account, which entails that the [Indian rupee] can be swapped for foreign currencies and vice-versa for limited reasons," according to Aditya Bhan, of the Observer Research Foundation, a global think tank.
"A further worry is that internationalizing the [Indian rupee] could curb the Reserve Bank of India's (RBI's) ability to manage domestic money supply and affect interest rates according to prevailing macroeconomic circumstances."
"We talked with [Indian Foreign Minister] Subrahmanyam Jaishankar in Jakarta and discussed bilateral issues, including such problems [as the mechanism of payments between Russia and India].
In the current situation, many billions of rupees have accumulated, which have not yet found their application, and our Indian friends have assured that they will offer promising areas where they can be invested," Lavrov said on September 10, according to TASS.
The original article contains 949 words, the summary contains 202 words. Saved 79%. I'm a bot and I'm open source!
The last time someone tried to sell oil in anything other than the US dollar, his country was invaded under false pretenses.
Venezuela has been selling oil in euro and yuan since 2018.
watch as he grasps for straws!!
putler is so ugly and dead eyed.
And only smiles when he is up to something particularly awful. Same as his impressionable puppet trump.
Aw, sad /s
Pivot, pivooot!!!!!
Blyat can’t catch a break.
They still have gold reserves :)
In Russia, the gold reserves YOU.
In Mother Russia YOU reserve gold