Don't Speak News

From the Moscow Times

A new wave of Western sanctions with massive blocking of bank payments, including through countries that are considered « friendly », can lead to « death » of the Russian economy. This was announced on Wednesday at a session of the St. Petersburg International Legal Forum by the First Deputy Representative of the Bank of Russia Vladimir Chistyukhin.

According to him, it is necessary to solve payment problems « as quickly as possible » and not to abhor even exotic or outdated mechanisms. « What seemed to us yesterday, unpopular — there, I don’t know, swaps, some clearing systems, the use of the — crypt all needs to be tested, everything needs to be tried », — called Chistyukhin.

« Because [ if ] there will be no normal calculations for products on foreign economic activity, for our export and import-dependent country it’s just that it’s all, it’s destruction », — he added ( RBC quotes ).

Russian companies have faced problems in making payments — shortly after, as US President Joe Biden expanded the powers of the US Treasury and allowed him to disconnect any banks around the world from dollar payments for helping the Russian military-industrial complex. Banks of Turkey and the United Arab Emirates — key hubs of parallel imports to Russia began to block calculations. Following the financial blockade, Chinese banks — the main buyer of Russian oil and the largest supplier of imported goods to the Russian market joined.

By the end of spring, according to estimates by the Chong-yang Institute for Financial Research at the People’s University of China in Beijing, 80% of settlements between Russia and China were suspended. The hopes that the situation will radically improve after the visit of Russian President Vladimir Putin to China were in vain. Although Putin and Xi Jinping discussed the creation of an isolated network of Chinese banks that would settle with Russia and not be afraid of Western sanctions, its scale was much smaller than that, what the Russian side was counting on, told the financial times familiar sources with the situation. At the end of May, transfers from Russia to China started blockingbanks of Kazakhstan with reference to the fact that the largest in China Bank of China regularly « is deploying » Kazakhstan payments for sanctions products.

On June 12, the American Ministry of Finance entered the Moscow Exchange and its key settlement structures (National Clearing Center and National Settlement Depository) into the sanctions lists, after which exchange trading in the dollar, euros and Hong Kong dollars in Russia stopped. At the same time, « daughters » Sberbank VEB in China and India, « daughters » VTB in China, India and Hong Kong, as well as three subsidiaries of the defense industrial bank — Chinese, Indian and Kyrgyz, came under sanctions. In addition to sanctions against banks, the United States has expanded the concept of « VPK Russia », for transactions with which financial institutions are threatened with secondary measures up to disconnecting from the global dollar system. Now, « defense complex » Russia refers to all companies included in the sanctions lists that are not even directly related to the production of military products.

Amid problems with payments of imported goods to Russia in January – April fell by 9%, up to $ 84.6 billion. Moreover, the decline affected all regions: imports from Europe and America fell by 19%, from Asia — by 4%, from Africa — by 5%.

This is not the limit: new sanctions can deprive the economy of another 15 – 20% of imports, PSB analysts predict. « It is important how counterparties from friendly countries will react to a new wave of geopolitical pressure, — they write. — So, the United States also imposed sanctions against „ subsidiaries “ the largest Russian banks in India and China, and this may further complicate the adaptation to new sanctions and adversely affect export volumes from Russia ».

Editors Note: This is economic warfare plain and simple and it gives Russia yet another reason to attack the United States. Similar sanctions and and oil/fuel embargo were imposed upon Japan by the US and it’s allies prior to Pearl Harbor (my uncle was killed in that attack) At that point Japan felt like it had no choice but to attack and attempt to destroy the American Pacific fleet, just as Russia now feels cornered as their nation is under severe attack on all fronts.

How much longer before the playbook says “Russia and China destroy the USA”? Make no mistake it’s coming. Prayed up and prepped up!

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