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Russian Markets Plunge on Recognition of Ukraine Separatists

Rogue Valley

Lead or get out of the way
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iu

2.22.22
Russian financial markets opened in deep red territory on Tuesday morning amid intensified sanction fears after President Vladimir ordered troops into Ukraine’s eastern breakaway territories. The dollar-denominated RTS index of leading Russian firms had fallen 10% shortly after 10am, its second day of double digit losses, less than 12 hours after Putin signed documents officially recognizing the Donetsk and Luhansk People’s Republics. The sell-off was across the board, with commodities, banks and technology firms all seeing heavy losses. The Russian ruble breached the symbolic 80 against the dollar bar on global markets during Putin’s speech announcing his decision, reaching 80.9 the following morning. The euro was trading at 91.36. While the White House has so far stopped short of implementing the full range of sanctions threatened by U.S. President Joseph Biden in the event of a Russian invasion, Putin last night acknowledged the likelihood of more painful penalties, saying that “they’ll be adopted anyway.” The Kommersant business newspaper wrote late on Monday night that “the only question is whether the consequences will be harsh or catastrophic.”


The beginning of Russian oligarchs and business taking a financial bath.

 
Putin last night acknowledged the likelihood of more painful penalties, saying that “they’ll be adopted anyway.” The Kommersant business newspaper wrote late on Monday night that “the only question is whether the consequences will be harsh or catastrophic.”
We'll find out in the next few days what sanctions are going to be imposed but in my opinion they need to be more toward the "catastrophic" end of the continuum. Anything less is appeasement. Putin is not a man to be treated lightly.
 

iu




The beginning of Russian oligarchs and business taking a financial bath.


Markets hate uncertainty.

If Russia invades, kills every man and dog it finds and a new "normal" is established and maintained, the markets will recover.
 

iu




The beginning of Russian oligarchs and business taking a financial bath.


In 1992 the US dollar was worth 450 rubles.
That was right around the peak of Russia's program of selling bribes to own huge swaths of Soviet public goods and resources.
This time it may wind up as a fire sale on behalf of crumbling Russian oligarchs.
Did anyone notice that most of them park their yachts outside of Russia entirely?
One of them had his parked outside the Statue of Liberty, which is, in my humble opinion, a very solid "dick move" that's meant to convey a message.

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He finally weighed anchor and shoved off in late 2017.
 

iu




The beginning of Russian oligarchs and business taking a financial bath.

The Russian people are going to get crushed because of their leader's warmongering stupidity.
 
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