this post was submitted on 27 Aug 2024
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[–] [email protected] 41 points 2 months ago (16 children)

How do they still have money

I know the sanctions weren't as effective as hoped, and they're still selling gas to China, but like seriously how do they still have money

[–] [email protected] 44 points 2 months ago (7 children)

They've migrated to a wartime economy, which gives you a lot of command over the economy. They're currently doing a careful dance of increasing their money supply, while trying to stabilize inflation using what foreign currency reserves and income they have.

The biggest thing keeping their economy going is the price of oil, which is hovering around 80-90$ a barrel. The vast majority of this is being gobbled up by the government via their national wealth fund.

So long as heightened domestic productivity is maintained for the war, and the price of oil is higher than 60-65$ they could retain solvency for years.

A real economic collapse won't be felt until the price of oil bottoms out, or if they attempt to transition out of a war time economy.

[–] [email protected] 14 points 2 months ago (2 children)

I looked at one of those ship monitoring sites and there was almost a continous string of oil tankers going to and from St. Petersburg, so I'd say they're probably selling a fuck ton of oil still.

[–] [email protected] 7 points 2 months ago (1 children)

Would be a shame if something bad happened to fuck up that port and made it, unusable. 🤔

[–] [email protected] 14 points 2 months ago

Someone quick call Ever Given and her sister ships to come and accidentally clog the passages around Denmark.

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