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We're losing our proxy war in the Ukraine. Not only is the Ukrainian military collapsing, but Russia is profitting hand over fist from our foolish "sanctions". Has anyone paid attention to exchange rates for the Dollar/Euro vs the Rouble? Exchange rates for both currencies rose almost asymptotically from February 17th, when it became obvious that a war was going to happen. They peaked simultaneously on the 10th of March, maybe three weeks or so into the fighting. Now, they're dropping like a rock, and the rouble is at its strongest position in at least 5 years. You can see the charts at Dollars to Roubles, and Euros to Roubles.
Part of this is due, no doubt, to Russian currency flow controls that they entered into those first three weeks. The greater part, however, is that sanctions have raised the cost of petroleum and food. Russia has more than doubled their revenue on petroleum, while selling less than they did before. This results in a booming Russian economy, fed by cheap oil at home and expensive oil abroad, with plenty to divert to their strategic reserve. A similar situation is developing with regard to wheat. Meanwhile, here in the West, we're suffering from high oil and food costs. Essentially, we're paying to underwrite sanctions, so that the Russians can profit.
No more cheap commissions from Russian furry artists.
Part of this is due, no doubt, to Russian currency flow controls that they entered into those first three weeks. The greater part, however, is that sanctions have raised the cost of petroleum and food. Russia has more than doubled their revenue on petroleum, while selling less than they did before. This results in a booming Russian economy, fed by cheap oil at home and expensive oil abroad, with plenty to divert to their strategic reserve. A similar situation is developing with regard to wheat. Meanwhile, here in the West, we're suffering from high oil and food costs. Essentially, we're paying to underwrite sanctions, so that the Russians can profit.
No more cheap commissions from Russian furry artists.
