General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMoscow is bracing for economic panic when markets open on Monday morning
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Those measures targeted the Russian central bank, which has intervened to prop up the value of the rouble following Vladimir Putins order to invade Ukraine. They also marked the first time Russian banks have been excluded from the Swift international payments system.
Major Russian banks such as Sberbank and VTB Bank have assured their customers that they will be able to access their rouble deposits and make exchanges into foreign currencies like dollars and euros.
But the economic turbulence will mark a key moment when the gravity of the crisis in Ukraine hits home for many ordinary Russians.
https://www.theguardian.com/world/live/2022/feb/27/russia-ukraine-latest-news-missile-strikes-on-oil-facilities-reported-as-some-russian-banks-cut-off-from-swift-system-live?filterKeyEvents=false&page=with:block-621bd00c8f0873d0384b2694#block-621bd00c8f0873d0384b2694
uponit7771
(90,364 posts)Best_man23
(4,907 posts)Doom on them if they're still holding.
smb
(3,475 posts)SheltieLover
(57,073 posts)smirkymonkey
(63,221 posts)tomorrow morning? I don't think it's just going to be Russia's economy that is in for a jolt.
MarineCombatEngineer
(12,429 posts)smirkymonkey
(63,221 posts)I have no idea what's going to happen. Everything is just so crazy right now.
MarineCombatEngineer
(12,429 posts)and at that point, all bets are off.
There's no doubt that the US and NATO would hand Russia it's ass in a conventional war, but what happens when their national army is humiliated and destroyed and all they have left to defend their homeland is nukes?
I'll take the hit rather than the unthinkable.
smirkymonkey
(63,221 posts)I agree that avoiding a nuclear war is the number one priority over anything. Putin is just so unpredictable, I suppose it's going to be one of those "day at a time" kind of things. The world (especially Ukraine) doesn't really need this kind of stress and anxiety after going through two full years of a deadly pandemic.
MarineCombatEngineer
(12,429 posts)I think Putin was counting on the western democracy's being exhausted from the pandemic and his efforts to undermine our democracy, well, he guessed wrong and here we are.
smirkymonkey
(63,221 posts)it has been an ordeal for all of us.
But if anything, I think Zelensky and the Ukrainians have given us all the shot of hope and energy that we need to keep on going and fighting against authoritarianism and corruption. I certainly feel renewed faith and courage to keep fighting the good fight.
MarineCombatEngineer
(12,429 posts)I didn't mean to imply that you were suggesting that.
smirkymonkey
(63,221 posts)Have a good evening!
MarineCombatEngineer
(12,429 posts)calguy
(5,325 posts)Dow is down -526
S&P down -100
Naz down -347
This could change by the time markets open in US. The world has all night to digest the news.
smirkymonkey
(63,221 posts)calguy
(5,325 posts)Their economically insignificant. Gas and oil cost will go up in Europe, maybe here out of greed. But beyond that, it's the Russians that need the rest of the world.
smirkymonkey
(63,221 posts)around the world, don't they? I think this will probably reverberate a bit more than we expect.
roamer65
(36,747 posts)The Bank of Russia will just create more roubles.
The exchanges to foreign currency will disappear very quickly.
Buckeyeblue
(5,501 posts)People will withdrawal Rubbles that won't be worth the wallets the stuff them into.
LiberalFighter
(51,084 posts)Probably can't afford too.