JP Morgan and Goldman Sachs are pouncing on Russia’s cheap corporate debt and distressed securities to avoid Western sanctions and take advantage of the war.
Current sanctions are not personally hurting Vladimir Putin but could cause future famine for the Russian people.
We now know the rules. A $50 donation to the Freedom Convoy will get your bank account frozen, but invading another country will not.
“You’re almost certainly going to make some other regimes decide they should be dumping dollar reserves, and making sure they have gold reserves or yuan reserves instead.”Adam Posen, president of the Peterson Institute for International Economics
Visa, Mastercard and Paypal suspended operations in Russia, but hours later, Russia’s largest lender, Sberbank, said it does not affect their Visa and Mastercards.
China opposes sanctions, but lucky for them Russian bank accounts are allegedly surging in China with companies opening yuan accounts. Let’s Go Brandon.
Once upon a time, sanctions were so devastating upon a country’s people, that it fueled the rise to Adolf Hitler.