China’s SWIFT alternative may undercut US sanctions

[Viet]

Russias has its own interests vis a vis eastern Europe to look after, so Vietnam doesn't figure in that. For one Vietnam interests now align more with the US than Russia. However , that doesn't means Vietnam won't keep its ties with Russia and keep buying weapons from Russia. Russia is still Vietnam's largest military supplier by far and it will remain that way for a long time, barring a major geo political change in Vietnam. And all this despite the fact that Russia and China are now on good terms.
In fact the irony is that Russia still has an upper hand in its ties with Russi, since Russia can sell its weapons to China's enemies/adversaries like India , Vietnam etc, but Chiba usually abtains from doing so towards Russia's adversaries. I'm sure if Ukraine wanted to buy weapons from China for example, China won't agree to sell them so as not to offend Russia. But Russia can do so and they have been doing so for decades towards China.


That means you underestimate Putin, he was the former head if KGB Russia top spy agency after all. So he comes from a military and intelligence background. He has an advantage over leaders who come from a political/diplomatic/engineering background
like China, US,UK , France, Japan, Germany and powers with whom Russia has to contend with day to day. So Putin has an advantage here when it's comes to geo strategic and geopolitical games given his background advantage .
So for you to think that Putin didn't plan for this invasion for a while justifies my point. If you really think he just woke up one morning and decided to invade Ukraine, then I can only wish your leaders are more knowledgeable than you in this field.

The only thing I regret is Vietnam failure to convince Russia to transfer submarines building technology. Now it’s too late. Swift exclusion and the total sanctions will reduce Russia Gdp by half.

 

[MH.Yang]

The only thing I regret is Vietnam failure to convince Russia to transfer submarines building technology. Now it’s too late. Swift exclusion and the total sanctions will reduce Russia Gdp by half.

You're wrong, you're not late.

I'm sure the Chinese govt will not prevent Russia from transferring technology to Vietnam. China has never stopped its neighbors from buying weapons, because this is your internal affair.

 

[mike2000 is back]

The only thing I regret is Vietnam failure to convince Russia to transfer submarines building technology. Now it’s too late. Swift exclusion and the total sanctions will reduce Russia Gdp by half.

Russia has never really been a super economic powerhouse per se anyway. More of a military and industrial one. So of course sanctions will have a big impact on Russia, but it won't be the end of them. Russia is not Iran or North Korea afterall. They are historically an independent great power, I.e a whole core power themselves as well..reason they still have many other countries around their sphere of influence and control even today ( Syria, Kazakhstan, Tajikistan, Armenia ( they are their major security guarantor irrespective of the war with Azerbaijan), Belarus, Kyrgyzstan, even in Moldova (where they still maintain a military base to support separatist pro Russian group there) plus Russia has closed ties with North Korea as well and a buffer state in Mongolia (a country crsates by Russia and who is very pro Russia, probably one of the kost pro Russian countries on earth etc etc. They also have deep military ties with many developing countries who rely on Russia for most of their weapons like India, Vietnam,
Egypt, Algeria etc etc.. So their influence is even more than that of China especially militarily and strategically. So they are still a big power, albeit a very much reduced one from their soviet era days .
I'm not sure about submarine technology from Russia to Vietnam. Not sure Vietnam has the industrial capability to build such an advanced military strategic weapon by itself as well. Ecen India is still in the process of acquiring such a capability independently albeit with Western know how (French scorpenes submarines) and nuclear ones with the help of Russia know how. Vietnam can stoll keep its military ties supplies from Russia the U.S,UK/West don't have any issues per se with that. Since they know Vietnam major reason for such military build up is aimed at China anyway.

 

[Viet]

The transfer of Russian property from the west is a financial defensive act, not an offensive act. Russia's early transfer of funds to China can only prove that Russia does not trust the west, so it has taken financial defense action. That does not prove that Russia has long planned the war.




Now that you know through Google that Russian funds have long been transferred from the west to China, what are you doing with this useless nonsense?
If SWIFT is really willing to give the world's largest resource country to China's financial system, we are very grateful.

Even though China is ready to help I don’t see how Russia economy can withstand western sanctions. Just few billion dollars flee to Beijing as you quoted it. Putin is isolated. Russia is cut off from international financial system. Russia can’t buy or sell anything. Russia central bank can’t even access to its forex reserves.

It’s expected that bank run will happen next week, the currency will crash the stock market will crash. That will be a panic in Russia. See Iran. When Iran is cut off from Swift, exports sunk by half. currency sunk by 90 percent I believe.

 

[GumNaam]

you guess

$30 trillion American Debt will disagree with you on whether Russia is rich or poor. As it stands, Russia has a vast gold reserve, it also has one of the largest oil and natural gas reserves in the world. So to say Russia is poor, is a very inconclusive statement.

brown nosers will be brown nosers bro. cuz end of the day, it's not the dollars that economies need to survive, it's the oil and gas that economies need to survive. when europe and u.s. has to import lng and oil via ships from other more expensive sources, it will send their already high inflation spiraling out of control. Thank God all mighty I bought me two electric cars just in the nick of time...

 

[MH.Yang]

Even though China is ready to help I don’t see how Russia economy can withstand western sanctions. Just few billion dollars flee to Beijing as you quoted it. Putin is isolated. Russia is cut off from international financial system. Russia can’t buy or sell anything. Russia central bank can’t even access to its forex reserves.

It’s expected that bank run will happen next week, the currency will crash the stock market will crash. That will be a panic in Russia. See Iran. When Iran is cut off from Swift, exports sunk by half. currency sunk by 90 percent I believe.

Billions? That was only the last foreign exchange transferred from Russia to China, US $10 billion and £ 8 billion, Russia also had a lot of capital transfers before.
You shouldn't worry about Russia. They have long been used to bearing economic sanctions, so their economy is basically internal circulation, and sanctions have little effect on them.

You should worry about Europe. The offshore CNY exchange rate rises so fast that it is obvious that a large amount of money has fled to China. The euro fell to 7.0341 against CNY from 7.8183. The euro fell 11.2%. Which economy's funds fled to China? Isn't that obvious?


Do you think the war instigated by USA and Britain is only aimed at the Russian economy? You don't think the EU is the target of the Anglo Saxons?

 

[Viet]

Billions? That was only the last foreign exchange transferred from Russia to China, US $10 billion and £ 8 billion, Russia also had a lot of capital transfers before.
You shouldn't worry about Russia. They have long been used to bearing economic sanctions, so their economy is basically internal circulation, and sanctions have little effect on them.

You should worry about Europe. The offshore CNY exchange rate rises so fast that it is obvious that a large amount of money has fled to China. The euro fell to 7.0341 against CNY from 7.8183. The euro fell 11.2%. Which economy's funds fled to China? Isn't that obvious?


Do you think the war instigated by USA and Britain is only aimed at the Russian economy? You don't think the EU is the target of the Anglo Saxons?

Ok it’s more you re right I just lookup the number. Russia transfers 13 percent of forex reserves to China before the war. That’s about $65 billion. But 87 percent are frozen by sanctions. Russia has gold in the central bank so that is good otherwise it would be worse.
Putin starts the war. Nonsense with US, UK instigating it.

 

[MH.Yang]

Ok it’s more you re right I just lookup the number. Russia transfers 13 percent of forex reserves to China before the war. That’s about $65 billion. But 87 percent are frozen by sanctions. Russia has gold in the central bank so that is good otherwise it would be worse.
Putin starts the war. Nonsense with US, UK instigating it.

13%? Please give me the data source.


If USA and Britain had not incited Ukraine's anti Russian sentiment, how could Russia launch a war.

If the Soviet Union did not incite Vietnam, and let the Vietnamese govt confiscate Vietnamese Chinese property and expel hundreds of thousands of Vietnamese Chinese in 1975. Will the China attack Vietnam in 1979?

NATO abandoned Ukraine in 2022, and the Soviet Union did not help Vietnam in 1979. Small countries' provocation against big countries will inevitably lead to serious consequences. Don't the Soviet Union and USA understand this truth?

 

[Indos]

Even though China is ready to help I don’t see how Russia economy can withstand western sanctions. Just few billion dollars flee to Beijing as you quoted it. Putin is isolated. Russia is cut off from international financial system. Russia can’t buy or sell anything. Russia central bank can’t even access to its forex reserves.

It’s expected that bank run will happen next week, the currency will crash the stock market will crash. That will be a panic in Russia. See Iran. When Iran is cut off from Swift, exports sunk by half. currency sunk by 90 percent I believe.

We will see energy price shock Tomorrow as Market open again, this will lead to many stock market down Tomorrow, some stock market like belong to Indian is even still suspended until now.

Commodity prices will likely to soar, and we should watch what will happen Tomorrow

 

[K_Bin_W]

EU buys $100B worth of gas and oil from Russia how are they going to pay for it.. Looks like sanctions are all cosmetic a face-saver move.

 

[tower9]

EU buys $100B worth of gas and oil from Russia how are they going to pay for it.. Looks like sanctions are all cosmetic a face-saver move.

As far as I understand, the sanctions don't apply to Russia's energy sector, which is not surprising because Europe will get royally fucked.

 

[Communism]

Given that reportedly the EU has frozen/confiscated all Russian Euro holdings, it is highly unlikely that Russia would simply accept more Euros or USD for further resource exports to Europe.

Will be interesting to see how this develops.

 

[Viet]

13%? Please give me the data source.


If USA and Britain had not incited Ukraine's anti Russian sentiment, how could Russia launch a war.

If the Soviet Union did not incite Vietnam, and let the Vietnamese govt confiscate Vietnamese Chinese property and expel hundreds of thousands of Vietnamese Chinese in 1975. Will the China attack Vietnam in 1979?

NATO abandoned Ukraine in 2022, and the Soviet Union did not help Vietnam in 1979. Small countries' provocation against big countries will inevitably lead to serious consequences. Don't the Soviet Union and USA understand this truth?

As of June 30 last year, 32 percent of Russia’s foreign currency reserves were euros and 16 percent were U.S. dollars, according to its central bank. About 7 percent were British pounds, 13 percent Chinese renminbi and 22 percent monetary gold. The remainder was held in other currencies.

https://www.washingtonpost.com/business/2022/02/26/russia-central-bank-white-house/

 

[GumNaam]

Given that reportedly the EU has frozen/confiscated all Russian Euro holdings, it is highly unlikely that Russia would simply accept more Euros or USD for further resource exports to Europe.

Will be interesting to see how this develops.

there's a lot of european investments in Russia as well that Moscow can also freeze and confiscate. honestly, there's probably of the europeans to be frozen and confiscated in Russia than the other way around, especially in the energy sector.

 

[TheSolution]

ol pervert uncle sam and his euro bitches will one day sanction themselves to death.

You have no idea how much I laughed at this bro