this post was submitted on 05 Sep 2024
95 points (99.0% liked)

Ukraine

9870 readers
496 users here now

News and discussion related to Ukraine

Matrix Space

Community Rules

πŸ‡ΊπŸ‡¦ Sympathy for enemy combatants is prohibited.

🌻🀒No content depicting extreme violence or gore.

πŸ’₯Posts containing combat footage should include [Combat] in title

🚷Combat videos containing any footage of a visible human involved must be flagged NSFW

❗ Server Rules

  1. Remember the human! (no harassment, threats, etc.)
  2. No racism or other discrimination
  3. No Nazis, QAnon or similar
  4. No porn
  5. No ads or spam (includes charities)
  6. No content against Finnish law

πŸ’³ Defense Aid πŸ’₯

πŸ’³ Humanitarian Aid βš•οΈβ›‘οΈ

πŸͺ– Volunteer with the International Legionnaires

See also:

[email protected]

!combatvideos@SJW

founded 2 years ago
MODERATORS
[email protected]
doo
[email protected]
[email protected]
95
Russian wealth fund down to $53.236 billion (interfax.com)
submitted 8 months ago* (last edited 8 months ago) by [email protected] to c/[email protected]
26 comments fedilink hide all child comments
 

To be clear it is not hold in $, but in RMB, gold and rubel. Before the war in held $174billion, so a massive decrease.

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 11 points 8 months ago* (last edited 8 months ago)

Yeah, it certainly isn't untenable in Russia right now. The main issue is that they are running out of levers to pull, so conditions that exasperate the issue don't have solid counter-balancing options.

Two solid levers are to defend the currency (requires spending forex reserves to buy up rubles) and raising central bank interest rates. We see the reserves are drawing down in OP's post and the central bank rates are already at 18% (compared to ~5.5% in the US). The high interest rates increasingly handycap your economy as you push them up. At 18%, it is already nearing credit card levels of interest simply to finance safe loans.

Things aren't dire for Russia today, but they are getting closer and closer to a situation they may not be able to pull out of in the future.