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The Russian economy is worried, as sanctions put the agreement with China at risk
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Chinese President Xi Jinping has remained loyal to Vladimir Putin for years. But Western sanctions appear to be putting economic relations to the test.
MOSCOW – Russia's dependence on China brings with it a lot Vladimir Putin At the moment, there is nothing but advantages: as a result of Western sanctions, many credit institutions stop payment transactions with Russia. Chinese central banks also want to restrict business dealings with Russia – which would have dire consequences for the Russian economy.
The Russian economy is under pressure due to Western sanctions
Over the years, Putin has built up China's currency, the yuan, as Russia's main reserve currency. But recently, more and more Chinese institutions have stopped accepting yuan payments from Russia. In fact, Russia wanted to continue dealing with China in the financial sector, but China appears to be backing down in the new talks. According to Russian Finance Minister Anton Siluanov, an agreement has not yet been reached on obtaining loans in the Chinese currency, the yuan.
Putin and Xi are long-time allies. But Western sanctions put the close relationship between the two countries to the test.
© Dmitry Lovetsky/DPA
The Chinese yuan plays an important role in the Russian economy – and in Putin's path towards independence from the US dollar. “More than 80 percent of trade transactions between Russia and the People’s Republic of China are carried out in rubles and yuan,” Putin said in 2023, according to an official English text of his speech at the annual meeting of the Shanghai Cooperation Organization (SCO). .
Consequences for Putin's economy: Business between Russia and China stops
In a recent report, the Russian Central Bank admitted that it has limited options other than the Chinese yuan for its reserves. According to the Russian Central Bank, the yuan's role as an international currency and its liquidity have increased „significantly” in recent years.
Russian companies that borrow in Chinese yuan are reportedly facing an increase in borrowing costs Bloomberg in March. Borrowing costs for short-term yuan bonds briefly rose to 15.7 percent on March 1 before falling to 4 percent a few days later. Companies are already under pressure due to rising domestic borrowing costs since the central bank chose in February to keep interest rates at 16 percent to combat high inflation. High interest rates have increased debt costs for corporate borrowers by 1.2 trillion rubles. This emerges from data from Russian consulting firm Yakov & Partners.
Sanctions work: Many banks allowed Putin to break the law
It's not just Chinese banks that are feeling pressure from the West in the wake of sanctions. Türkiye, in particular, cut off some of its banking connections at the beginning of the year. Major lenders in the UAE have also begun closing bank accounts of Russian citizens and restricting payment transactions with Russia, the business newspaper reported. Vedomosti Citing anonymous Russian business and government sources.
Russian oil companies are also facing payment delays of several months or even rejection of transactions because some banks from Turkey, China and even the United Arab Emirates fear secondary sanctions. The news agency reported this Reuters Citing eight sources familiar with the circumstances. Banks will require written guarantees from their customers that the transferred funds will not reach a company or person on the US sanctions list.
Penalties and secondary penalties
The United States has used so-called secondary sanctions for decades to give its primary sanctions greater impact. This type of sanctions is intended to prevent individuals abroad from entering into or continuing commercial contacts with targets affected by core US sanctions (such as Russia).
Western sanctions against Russia: Putin loses his trading partners
Western secondary sanctions have proven particularly effective in recent weeks. “The USA and Europe are now focusing on secondary sanctions in order to put pressure on these countries and narrow the corridors,” explains Markus Cube, a military economist at the ETH Zurich Military Academy. world.
In addition to China, Russia may lose India as an important trading partner. India is considered one of the most important buyers of Russian crude oil. news agency Reuters According to Indian refiners, there is currently concern about new Western sanctions. In the latest sanctions package, the United States blacklisted Russian shadow fleets.
Category list image: © Dmitri Lovetsky/dpa
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
He presses
Russia suspects a complex plan behind the attack on the Crimean bridge in 2022. Kiev confirms involvement – are more attacks planned?
KERCH – Ukraine repeatedly resorts to unconventional means in its defensive battle against Russian leader Vladimir Putin’s army – perhaps also due to a persistent ammunition shortage. next to 3D printed bombsAs with those used in Ukraine’s war last year, the Crimean Bridge is also said to have been destroyed using an explosive device, the Ukrainian online newspaper reported. Ukrainian Pravda.
The strategically important Kerch Bridge, which connects the Russian mainland to the annexed Crimean peninsula, has been attacked several times by the Ukrainian army. It is now said that an explosive attack has been detected on October 8, 2022 and reveals a complex plan. The explosive device that caused extensive damage to the bridge appears to have been hidden among several rolls of plastic wrap – and had traveled a long time ago.
Traveling for more than two months – the explosive device remained undetected by Russia
The homemade explosive device was said to have relied on solid rocket fuel, according to the Russian newspaper Kommersant Citing reported investigative materials. Even more surprising than the explosive device itself is how it got to the Qurum Bridge in the first place. Hidden among 22 pallets of polyethylene film, it is said to have initially arrived in Georgia from the Ukrainian city of Odessa. From there it was transported to Armenia, where the shipment was cleared through customs. The accompanying documents have been replaced in the meantime.
The pallets were then delivered on a truck across the Georgian-Russian border to Armavir in Russia’s Krasnodar region, Russian investigations showed. The explosive device spent the rest of the journey in a Russian truck, the driver of which is said to have known nothing about the plans.
According to Russian authorities, Ukrainian backers chose this complicated route for a very specific purpose. This was an attempt to distract attention from the actual goods – and it is clearly a successful tactic.
Ukraine waited for the right time, as an explosive device was detonated on the Crimean GPS bridge.
Russia believes Ukrainian President Volodymyr Zelensky ordered the Ukrainian secret service to carry out the attack on the Kerch Bridge, according to reports. Newsweek. He equipped the explosive device with a GPS system, causing the bomb to explode in a pre-determined section of the bridge. This information cannot currently be independently verified.
However, the attack did not fail to have its effect: using an explosive force of about 10 tons of TNT, large parts of the bridge were severely damaged. Two bridges collapsed as a result of the explosion, and 17 cargo tanker cars loaded with fuel were damaged. as Daily news It was reported that at least three people died in the explosion.
Military bloggers fear further attacks by Ukraine on the Crimean Bridge
Kiev is said to be upon request Newsweek Claims responsibility for the attack on the Kerch Bridge. It is assumed in Russia that Ukraine is planning more such measures. The Ryapar channel, which is said to be linked to the Russian Defense Ministry, expressed similar concerns on Telegram last week.
Accordingly, Ukraine used American decoy missiles to locate Russian air defense systems and radars. The channel suspects that this is preparation for another attack on the strategically important bridge. This may happen before Putin is officially inaugurated as Russian president on May 7. (prohibit)
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
World
Conflict with China: Baerbock does not rule out the presence of a German frigate in the Taiwan Strait
Foreign Minister Annalena Baerbock does not rule out that it could be the frigate Baden-Württemberg It will also transit the Taiwan Strait on its next mission in the Pacific. The Green politician said during her visit to New Zealand that the route of the warship and supply ship would not be announced in advance. But she stressed that the „right of peaceful passage” also applies to the road Taiwan Progressing. “The same rules apply there as in all similar maritime areas in which our ships and other vessels sail.” The training mission of the two ships is carried out on this basis.
Frigate Baden-Württemberg and task force provider Frankfurt am Main They will begin a round-the-world journey next Tuesday, during which they will travel through the Panama Canal Pacific And then it also crosses the South China Sea. There was already a similar mission from August 2021 to February 2022. The frigate Bavaria It participated in maneuvers with its allies at the time, but avoided Taiwan.
Chinese threat of invasion
The Taiwan Strait can be crossed from China To be seen as a provocation. The People’s Republic claims the Democratic Republic of Taiwan as its own territory. The central government in Beijing is striving for „reunification” with the island, and has repeatedly threatened to invade it.
Despite Chinese threats, the United States, Great Britain, and France regularly maintain a military presence in the strait between Taiwan and China. Taiwan’s representative in Germany, Jhy-Wey Shieh, recently requested the frigate in an interview with the German News Agency (DPA). Baden-Württemberg You should follow this example. It was „disappointing” that this happened in the previous mission Bavaria He said that was not the case.
Meanwhile, Naval Inspector Jean-Christian Kack called for an order to purchase two more frigates for the Navy and warned of the risks of increased costs. “I think it is absolutely necessary for Germany to make this choice and order these two frigates. I agree with the Minister on this matter, because we must now invest in the fleet of the future so that we can continue to fulfill our tasks of protecting our ships. The Vice Admiral told the German news agency ( DPA: “People can guarantee this in the long run.”
Construction of the first F126 frigate began in December. A total of four new frigates are being financed, and there is an option for two more ships at a similar price. “Any delay or failure to use this option will lead to increased costs when ordering later,” Kak warned.
Foreign Minister Annalena Baerbock does not rule out that it could be the frigate Baden-Württemberg It will also transit the Taiwan Strait on its next mission in the Pacific. The Green politician said during her visit to New Zealand that the route of the warship and supply ship would not be announced in advance. But she stressed that the „right of peaceful passage” also applies to the road Taiwan Progressing. “The same rules apply there as in all similar maritime areas in which our ships and other vessels sail.” The training mission of the two ships is carried out on this basis.
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
During the attack on the Crimean Bridge
Russia threatens „devastating retaliation”
May 3, 2024 at 10:08 pm
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The Crimean Bridge near Kerch plays an important role in the logistics of Russian forces in Ukraine. Moscow expects Ukraine to launch an attack on Putin’s majestic palace in the coming days, and threatens the consequences.
Russia warned of a „devastating retaliatory strike” if Ukraine attacks Crimea or the Crimean Bridge with Western support. Foreign Ministry spokeswoman Maria Zakharova said in Moscow at a press conference: “I would like to once again warn Washington, London and Brussels that any aggressive actions against Crimea will not only be doomed to failure, but will also be met with a devastating retaliatory strike.” In the Russian capital.
In recent days, the Ukrainian Armed Forces have been observed using several ATACMS missiles against Crimea. Zakharova said: “According to the Russian Ministry of Defense, all the missiles launched were destroyed.” She expressed doubts that the government in Kiev was planning a major attack before or on May 9. On this day, Russia celebrates the victory of the Soviet Union over Germany in World War II.
Attacks on anti-aircraft systems
The Russian Ministry of Defense announced on Tuesday that it had intercepted six ATACMS missiles over the Crimean Peninsula. However, independent media reported attacks on three military bases on the peninsula. The attacks were aimed at confronting Russian air defense systems.
The independent Internet portal Astra reported that a fire broke out during an attack on an anti-aircraft position near Simferopol. Djankoy Airport, where the helicopter regiment and anti-aircraft defense forces are based, also came under fire. According to Astra, four soldiers were injured in an attack on a military facility in the Chornomorsky region, northwest of the peninsula. The United States had announced that it would also deliver long-range ATACMS missiles to Ukraine as part of the new weapons package. In previous deliveries, its range was limited to 165 km.
The Crimean Bridge near Kerch, opened by Kremlin President Vladimir Putin in 2018, connects southern Russia to the peninsula that was annexed in violation of international law, and constitutes an important supply route for Russian associations in southern Ukraine. At the end of October 2022, an explosion stopped traffic on the bridge for several months. Marine drone and missile attacks later followed. Kiev has repeatedly stressed that it wants to liberate the peninsula.
„Praktyk żywieniowy. Guru bekonu. Irytująco pokorny entuzjasta zombie. Uczeń totalny”.
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