Summary
Russia’s stock market lost $23.7 billion in two days after Trump’s new global tariffs and a steep oil price drop, marking its worst week since 2022.
The MOEX Russia Index fell 8.05%, with major firms like Sberbank, Gazprom, and Rosneft plunging. Brent crude dropped 12%, and copper fell 11%, stoking global recession fears.
Russia, heavily reliant on commodity exports, faces budget strain and potential ruble devaluation.
Peace talks over Ukraine remain stalled as the U.S. signals impatience, and NATO sees no shift in Russia’s war objectives.
lmao, when Krasnov’s stupidity manages to hurt Russia even when he excludes them from sanctions.
The entire global trade system is in free fall.
It’s so crazy to blink past tanking indexes in Tokyo, Frankfurt, and Dubai while pumping a fist and announcing “Fuck yeah! We got Russia!”
If anyone should be extremely worried right now, you’d think it would be the Saudis. Not one of the most sanctioned countries on earth.
It’s so crazy to blink past tanking indexes in Tokyo, Frankfurt, and Dubai while pumping a fist and announcing “Fuck yeah! We got Russia!”
When the US suffers along with the rest of the world: “YES! Take THAT Amerikkkan Empire!”
When Russia suffers along with the rest of the world: “W-we shouldn’t celebrate… t-think of everyone else who’s being hurt…”
Curious, the difference in reactions to the exact same fucking crisis.
Apparently in addition to Trump probably producing a recession and thus clobbering oil demand, OPEC decided, for some reason, to increase production.
https://finance.yahoo.com/news/oil-extends-sharp-drop-surprise-061831274.html
Oil’s rout was triggered Thursday by US President Donald Trump deluge of tariffs, which threaten the global economy and energy consumption. Hours later, OPEC+ tripled a planned output hike for May, in what delegates called a deliberate effort to lower prices to punish members that were pumping above their quota.
West Texas Intermediate futures have fallen about 14% in just two days — settling near $61 a barrel in a move similar to steep losses seen during the pandemic — while Brent also ended the day at the lowest since 2021. The declines were exacerbated on Friday by China’s retaliation against the US duties, including a 34% tariff on all imports from the US starting within a week.
Both are bad news if you’re a major oil exporter.
I’d guess they’re increasing production on the hopes that less countries purchase from the US
fewer
I understood that middle eastern oil can be dirt cheap because it is simply pumped, whereas US oil can’t be because you have a lot more costs, especially with fracking.
They’re trying to block “drill baby, drill” by making it unprofitable for companies to do that
It’s also a different type of crude, a lot of US refineries can’t use the light sweet crude that the US mainly has, they are configured to use sour crude that opec mainly has.
Wow trump has done more to hurt the Russian war effort in two days with tariffs than Biden did in 3 years. That’s something, I guess…so we got that goin for us.
He fucked the global economy. Of course it’s going to hurt Russia. It’s like setting yourself on fire because you have cancer - sure, the cancer will suffer *too. *
It was a joke bcz he’s done basically nothing good in the last three months.
After re-reading your comment, I see that too. Sorry.
That is basically how we treat cancer.
… Chemotherapy targets rapidly dividing cells (e.g. cancer, hair, blood). Most cells in your body don’t undergo mitosis often enough to be affected by chemo.
Besides, we have a host of other treatments for cancer:
…to name a few categories.
So, no this is not even “basically” how we treat cancer.
I thought that there were no tarrifa added to Russia in the recent wave?
There weren’t. This is just a nice side effect.
tariffs were the key to destroy russia after all.
I just want to say MAGA voters - good job
Yeah, if this was the Drumpfsters end goal, then well done.
I absolutely doubt it was anything but an unexpected consequence, which the US regime will try and correct tomorrow
The most dangerous aspect for the Russian economy is probably the low oil price. They are operating with minimal profits at normal times, and low prices like now they have to put money into the business instead of getting profits out of it.
$23.7 billion is nothing, are these guys a third world country or something?
Really puts the £36 TRILLION that’s sitting liquid in offshore tax havens into perspective. $23.7 billion isn’t even 1% of that.
It would be so easy to tackle the offshoring of US tax funds.
- Implement better tax laws.
- Billionaires attempt to leave the country with their ill-gotten booty.
- Send Seal Team Six after them like Bin Laden. Drop bombs if you have to. The word “billionaire” should be synonymous with “terrorist.”
- Problem solved.
The fun part is we can’t even fuck up our image on the world stage because Trump already did that.
yeah what a bunch of hacks. The US can out third-world country them any day of the week.
I wonder how much of what happened after Brexit can be applied here
Nothing, other than regret for it’s supporters
That’s something tho. Definitely a big shift in political opinion in their 2024 election. You don’t think we can expect to see other similarities? Devaluation of our currency. Prices of common goods increased. Wages outpaced inflation decently.
The world gets poorer > oil and other raw materials become cheaper > Russia earns less money > Russia also gets poorer.
