"Sanctions can have a very negative effect on our economy," admits Putin

[+Nuclear Wessel]

Putin admits sanctions may hurt Russia’s economy

Russian dictator Vladimir Putin admitted that Western sanctions imposed on Russia due to its invasion of Ukraine could negatively affect the country’s economy, as reported by the Russian state-controlled RIA Novosti agency on March 29.

Putin made comments at a meeting with the members of the Russian government, according to RIA Novosti.

The sanctions "can really have a negative effect on the economy," Putin said. "In this regard, we need to ensure a sustainable increase in domestic demand."

Putin has previously repeatedly claimed that sanctions imposed on Russia had not affected the country's economy.

Source: Putin admits sanctions may hurt Russia’s economy (yahoo.com)

[Occult1]

They can but trade with China, India, Turkey, Iran etc have so far filled the gap.

[+and-then]

4 minutes ago, Occult1 said:

They can but trade with China, India, Turkey, Iran etc have so far filled the gap.

They'll establish new trading partners but the Russian people may not be as chuffed with those options as they were with the feeling that they were more a part of the west.  The world is dividing up and drawing new lines.  Let's hope we don't get any major wars as a result.

[acidhead]

2 hours ago, and-then said:

The world is dividing up and drawing new lines.  Let's hope we don't get any major wars as a result.

Yes it is.  They're dropping the US dollar by trading in their own commodity backed currencies. This doesn't bode well for western nations who depend heavily on supply and demand fiat currency and if it keeps up we're going to see hyper inflation like we've never seen before. 

[Tatetopa]

4 hours ago, Occult1 said:

They can but trade with China, India, Turkey, Iran etc have so far filled the gap.

Which one of those countries can supply the high end chips required for just about every piece of tech; commercial or military?

[odas]

11 hours ago, Occult1 said:

They can but trade with China, India, Turkey, Iran etc have so far filled the gap.

Sure. China is opening 1 rubel stores, India is sending their spices, Turkiye kebabs and Iran, Iran...whatever they send, oh yeah, turbans.

[spartan max2]

Shocking news 

[spartan max2]

11 hours ago, Occult1 said:

They can but trade with China, India, Turkey, Iran etc have so far filled the gap.

By having to sell to them cheaper then they were selling for before sanctions. Russia is the loser in that situation

[Occult1]

9 hours ago, Tatetopa said:

Which one of those countries can supply the high end chips required for just about every piece of tech; commercial or military?

Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War

https://www.bloomberg.com/news/articles/2023-03-04/putin-gets-military-tech-chips-semiconductors-despite-eu-and-g-7-sanctions?leadSource=uverify wall

 

Turkey, UAE, Kazakhstan and also China.

[spud the mackem]

1 hour ago, spartan max2 said:

By having to sell to them cheaper then they were selling for before sanctions. Russia is the loser in that situation

Due to the war all the world's economies have changed to some degree , but will they get back to normal after the war , the largest increase I've noticed is that Petrol (gas) has increased from about £1.25 to £1.45 per litre , and now that Saudi has gone in with Russia and China this may increase the price significantly .  

[spud the mackem]

5 minutes ago, Occult1 said:

Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War

https://www.bloomberg.com/news/articles/2023-03-04/putin-gets-military-tech-chips-semiconductors-despite-eu-and-g-7-sanctions?leadSource=uverify wall

 

Turkey, UAE, Kazakhstan and also China.

No comparison with the U.S.A , Japan , U.K who all specialise in High Tech chips which the places you mentioned don't come near .

[spartan max2]

2 minutes ago, spud the mackem said:

Due to the war all the world's economies have changed to some degree , but will they get back to normal after the war , the largest increase I've noticed is that Petrol (gas) has increased from about £1.25 to £1.45 per litre , and now that Saudi has gone in with Russia and China this may increase the price significantly .  

I'm honestly not sure what will happen after the war.

The pressure to unintertwine economies has been going on the last 4-8 years or so. 

This sort of just pushed that forward IMO

[L.A.T.1961]

Interesting he should admit this now. 

Is it because he would rather suggest changing future plans are due to economic reasons rather than military? 

 

[Tatetopa]

3 hours ago, spartan max2 said:

By having to sell to them cheaper then they were selling for before sanctions. Russia is the loser in that situation

On the bright side,  American and European motorists benefit from China and India  buying discount oil from Russia.   Russia does not get full market price either.

Everybody needs oil, China and India buy a lot.  Usually they compete with everybody else on the world market and keep the price up.   If they buy from Russia, the world market price  stays a bit lower.  Gasoline costs less in Western countries than if China and India were competing with us for supply.  

We can't expect it to go all our way all of the time, and IMO we should not try to force the world to toe our line on every occasion.  But if the west is smart and adaptable, we can make lemonade out of the lemons.

 

[Occult1]

2 hours ago, spud the mackem said:

No comparison with the U.S.A , Japan , U.K who all specialise in High Tech chips which the places you mentioned don't come near .

You don't get it. Read the Bloomberg article.

Turkey, UAE, and Kazakhstan are re-selling Western chips to Russia. They are simply bypassing the sanctions by using third countries.

China also produce and imports lots of semiconductors. They sell some to Russia.

How Microchips Migrate From China to Russia

https://www.wsj.com/articles/how-microchips-migrate-from-china-to-russia-7ad9d6f4

 

Edited March 30 by Occult1

[bmk1245]

Big ships sink slowly...

[jmccr8]

1 hour ago, Occult1 said:

You don't get it. Read the Bloomberg article.

Turkey, UAE, and Kazakhstan are re-selling Western chips to Russia. They are simply bypassing the sanctions by using third countries.

China also produce and imports lots of semiconductors. They sell some to Russia.

How Microchips Migrate From China to Russia

https://www.wsj.com/articles/how-microchips-migrate-from-china-to-russia-7ad9d6f4

 

Hi Occult

And those countries can face sanctions which means not being able to buy the chips or the products that they can be harvested from which will mean that they will not be able to get products that their citizens buy and use.

[Tatetopa]

2 hours ago, Occult1 said:

You don't get it. Read the Bloomberg article.

Yeah, we get it.  There are leaks and loopholes.  Russia is a country that has to buy microwave ovens from a third country to take apart to extract chips for missile guidance systems.    It demonstrates that  their supplies have been restricted.

[jmccr8]

26 minutes ago, Tatetopa said:

Yeah, we get it.  There are leaks and loopholes.  Russia is a country that has to buy microwave ovens from a third country to take apart to extract chips for missile guidance systems.    It demonstrates that  their supplies have been restricted.

Hi Tate 

They still wouldn’t be the same quality with the same capabilities either so the quality and efficiency of the missile systems will still be substandard 

[Tomas S]

4 hours ago, Occult1 said:

You don't get it. Read the Bloomberg article.

Turkey, UAE, and Kazakhstan are re-selling Western chips to Russia. They are simply bypassing the sanctions by using third countries.

China also produce and imports lots of semiconductors. They sell some to Russia.

How Microchips Migrate From China to Russia

https://www.wsj.com/articles/how-microchips-migrate-from-china-to-russia-7ad9d6f4

 

So now when they are buying second hand micro wave ovens in bulk they will strip them of the chips to finally upgrade their deadly hardware?

https://www.google.com/amp/s/www.globaldefensecorp.com/2022/06/21/exposed-captured-russian-pilots-admit-that-russian-air-force-distributed-garmin-gps-and-pronebo-mobile-app-to-navigate-in-ukraine/amp/

[Occult1]

2 hours ago, Tatetopa said:

Yeah, we get it.  There are leaks and loopholes.  Russia is a country that has to buy microwave ovens from a third country to take apart to extract chips for missile guidance systems.    It demonstrates that  their supplies have been restricted.

Russia was previously buying the high-end chips from EU, Japan and the UK. They just replaced those with intermediaries such as Turkey, UAE and Kazakhstan. There is always someone, somewhere willing to sell to Russia and make a profit. It also doesn't help that China is one of the biggest player in the global semiconductor market. It's simply impossible for the West to control.

Edited March 30 by Occult1

[+Nuclear Wessel]

23 minutes ago, Occult1 said:

It's simply impossible for the West to control.

I would contend that point, as TSMC (based in Taiwan) is the world largest semi conductor manufacturer, producing 65% of the world's chips. Because Taiwan's sovereignty is essentially being guaranteed by the US against China, the West has a significant amount of leverage in the situation.

Taiwan has already imposed sanctions against Russia prohibiting use of TSMC-based chips for military purposes.

Edited March 30 by Nuclear Wessel

[Tatetopa]

2 hours ago, Occult1 said:

Russia was previously buying the high-end chips from EU, Japan and the UK. They just replaced those with intermediaries such as Turkey, UAE and Kazakhstan. There is always someone, somewhere willing to sell to Russia and make a profit. It also doesn't help that China is one of the biggest player in the global semiconductor market. It's simply impossible for the West to control.

Better do some homework  on types of chips produced.  China does not make top tier chips and the three countries that make equipment to produce those sorts of chips are boycotting China.

https://www.computerworld.com/article/3686571/us-wins-support-from-japan-and-netherlands-to-clip-chinas-chip-industry.html

US wins support from Japan and Netherlands to clip China’s chip industry  The countries have agreed to further restrict what chip-manufacturing equipment can be supplied to China.

No doubt you follow the news.  In addition to agriculture, the drought in China affected hydroelectric power for factories, many of which experienced shut downs.   That included chip lines.

The rest of the world is pretty tired of supply chain interruptions and shortages.  Many countries are bringing manufacturing home, including the US.   The CHIPS act was part of that too. It may not work as well as the Democrats  hoped, but it will change the balance somewhat.  All of those measures among our allies and in the US were done before China  even thought about helping Russia.

Its popular now for conservative Americans to hate America and think Biden is stupid and senile, but we are still playing the game.  China is losing steam.  Russia is failing its people.   India is its own side, not Western or Chinese.  Interesting for the US that the Nord stream pipeline failed and pushed Europe into buying from different suppliers like US and Canada.  

[acidhead]

On 3/29/2023 at 9:05 PM, acidhead said:

Yes it is.  They're dropping the US dollar by trading in their own commodity backed currencies. This doesn't bode well for western nations who depend heavily on supply and demand fiat currency and if it keeps up we're going to see hyper inflation like we've never seen before. 

 

 

[Sir Wearer of Hats]

On 3/30/2023 at 10:56 AM, Nuclear Wessel said:

Putin admits sanctions may hurt Russia’s economy

Russian dictator Vladimir Putin admitted that Western sanctions imposed on Russia due to its invasion of Ukraine could negatively affect the country’s economy, as reported by the Russian state-controlled RIA Novosti agency on March 29.

Putin made comments at a meeting with the members of the Russian government, according to RIA Novosti.

The sanctions "can really have a negative effect on the economy," Putin said. "In this regard, we need to ensure a sustainable increase in domestic demand."

Putin has previously repeatedly claimed that sanctions imposed on Russia had not affected the country's economy.

Source: Putin admits sanctions may hurt Russia’s economy (yahoo.com)