- Russia’s yuan reserves are nearly depleted due to Chinese banks’ fear of US sanctions.
- Lenders have urged Russia’s central bank to address the yuan deficit, causing the ruble to drop.
- China’s hesitance stems from US threats of secondary sanctions over Russia’s Ukraine war financing.
I guess the financial market is being reduced to ruble
Maybe they shouldn’t have invaded Ukraine.
the question is if they could still pull out of the war
Putin’s fragile ego won’t allow that.
Ukraine doesn’t have the resources to start some weird revenge conquest, given that their allies fear MAD.
Hot take:
China has lost all faith in Russia. Is reorganizing to reflect that.
And maybe is even considering Taiwan’s advice, lol.
Hotter take:
China is on the brink of financial collapse and no longer can afford to support Russia’s bullshit.
Wow, that’s too bad. Anyway make sure you’ve got plenty of Rubles in your bathroom for when they make TP the national currency, bub.
The Ruble is worth more now than before the war startedYour graph is showing dollars vs rubles, dumbass. Compare rubles vs dollars over 5 years and it’s the direction we all know it to be. https://www.tradingview.com/symbols/RUBUSD/
I didn’t realize that was different
Both graphs are showing the same thing - Russian currency weakening. Your’s just shows how many rubles it takes to buy a dollar (not something you want going up if you’ve got rubles).
I hope Ukraine takes away their natural gas production next. Gonna be the USSU pretty soon, get fucked Putin.
Well… India is still a partner so Putin still has that…
India is taking advantage of the situation.
It’s understandable that a developing country wants cheap energy, also genuinely sad the world’s largest democracy is funding a dictator’s barbaric land grab.
“world’s largest democracy” run by a fascist, who embraces pogroms against the Muslim minorities and assists Israel in its genocide against palestinians, including sending India troops there.
Of course Israel is best buddies with Modi in the same way they sold drones to Russia after the Crimea annexation, which later helped Russia bomb Ukraine during the main invasion. Neither country is a liberal democracy, nor do they share interests with “the West” past their own immediate advantage.
India is financially supporting colonization of Ukraine by doing business with Russia.
India is supporting colonization.
The boot is on the other foot now, I guess.
They were taken advantage of previously; as fucked as it all is, they have no reason to care.
India is touring EU. They have visited Kiyv as well.
Just sayan dot tiff
what happens when they run out? do they have to start buying more yans from somewhere else?
Buy them with what? No one want their rubles 😁and they haven’t enough “stuff” to sell lol.
India only cares about India, so maybe they can seek them more LNG or oil. Maybe Rupies are the new Yuan lol
yes india is set to take them for all the oil they can, at extremely reduced prices, which isn’t good for russia, but great for india.
When they run out then they can’t purchase goods from China.
Well, they can, but the cost will get more volatile… super oversimplified, it’s the difference between drinking at home booze you bought at wholesale prices and keeping a running tab with a local bar/pub. You’ll be subject to the bar and any price changes they (read: the currency markets) want to make.
Theres no such thing as bartering between nations, in order to buy from them requires first selling something or having a creditor.
I’m assuming they have nothing more to sell so they’ll just lose important wartime supplies and general goods access.
but if they run out before they have paid off the money, dont they have to give it back in some way? At least this sounds like it should have more serious consequences than that.
Its very serious to lose important wartime supplies access. I imagine the general populous isn’t happy either, with goods becoming more restricted than even the USSR.
They start using other currencies they have. At some point it will be rubbles. But first it will be currencies their population has.
It would be interesting to see the ruble collapse entirely. Crypto is already very popular in Russia, so the state could lose a tremendous amount of power/funding when they need it most.
Do you feel that Putler? That’s the walls closing in.
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Shh, humans are talking.
I’m selling my extra pea gravel. I’ll try and get an exception for export to ruzzia if necessary. Sure gravel can be used as bullets. But I find that level of indefence acceptable.
Each 1/4" gravel piece will cost just one ruble. And the uses are endless! For example, for several billion rubles you can defend one building! Did I mention that each gravel piece is personally signed by a very hot American woman who will be completely naked while signing it and she will gently touch the tip of her blossoms on every piece before kissing it and telling it a story. Usually she will arrange several thousand pieces around her to tell the story. Usually it’s a reading of an accounting book though. But she will be totally naked.
We, at my backyard pile of gravel company hope that before we run out, there will be at least one ruzzian buried several feet under each one of our beautiful gray colored pieces.
The true value of this very special gravel comes in the field! As each soldier is dropped by those pesky Ukrainians, the location can be specially marked by placing a pieces over the perished. Incredibly, you can then place one in a special counting bag. So if you count 5 pieces later in that bag, that means you had 5 perished guys. And these marker counters last for years and years! No maintenance required! It’s the perfect way of saying thank you. I got at least a cubic yard of this beautiful specimens. 50% off if we switch the model with a very naked mole rat. The rat does all the aforementioned things but in its own native way of communicating with little squeaks.
