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How is Russia not Financially Crippled?
(lemmy.world)
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this post was submitted on 17 Jan 2024
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As far as I understand they had prepared a pretty big warchest, and gas is still worth a lot and is being sold to countries that didn't commit to sanctions (like China and India).
And stupidly kept 1/2 of it in Western financial institutions.
We're about to start selling Ukraine NATO weapon systems with what used to be Russian money.
Pootin also launders oil money offshore, so... all means are good for him.
And yet, he is a “former” KGB officer, a bandit from St. Petersburg who has been involved in dubious schemes since the 90s, so what else could you expect from him...
And if that actually happens, then very few countries will trust the US dollar as they reserve anymore and buy up gold as they are already doing.
Well, their warchest mostly consisted of assets in western countries. Most of these were immediately seized. That didn't completely destroy Russia, but it put them in a far worse situation.