Economy of the Russian Federation
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Zebra
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Re: Russia plans new measures to stabilise the rouble
Rouble's tailspin sparks fears for Russia
December 17, 2014,
Matthew Schofield and Kevin G. Hall
The plunge in value of Russia's rouble has raised fears the nuclear superpower could fall into an economic recession, sparking unrest.
Rouble's tailspin sparks fears for Russia
December 17, 2014,
Matthew Schofield and Kevin G. Hall
The plunge in value of Russia's rouble has raised fears the nuclear superpower could fall into an economic recession, sparking unrest.
Berlin: A free-falling Russian rouble on Tuesday prompted fears that the nuclear-armed nation could be entering a deep economic recession with the potential for unrest, as citizens and investors try to get their hands on cash amid crippling international sanctions and sinking oil prices.
The Russian central bank tried to right the ship with a surprisingly large interest rate hike, to 17 per cent, before the nation's financial markets opened on Tuesday. But it was for naught as the already limping rouble fell another 20 per cent against the US dollar.
"What we've seen in the last few days is real financial panic," said Anders Aslund, a Russia expert for the Peterson Institute for International Economics in Washington.
Problems in Russia circled the globe, with volatile trading in European financial markets and wild intraday swings on Wall Street.
The jump in Russian rates was designed to keep investors there from fleeing the country, sweetening their returns. Instead, investors shrugged it off and proceeded to head for the exits.
Will this hold value? A customer inspects a car for sale at a Lexus automobile dealership in Moscow. Photo: Bloomberg
Russia is being hit by a double blow: falling oil prices and international economic sanctions levied in the wake of Russia's moves into Ukraine.
Even before the extraordinary action on the rouble, the central bank had warned that if oil prices stay where they are today, in the range of $US60 a barrel, the economy would contract sharply. Higher interest rates now further raise the cost of borrowing for Russian businesses, deepening the expected contraction.
"Nothing they do with monetary policy can help. If you have something that is fundamentally wrong, you can't fix it with monetary policy," said Mr Aslund, who said Russian President Vladimir Putin must find a face-saving way to back out of his foray into the Ukraine and lift the sanctions.
Adding to the pressure, White House spokesman Josh Earnest confirmed on Tuesday that US President Barack Obama will sign this week a bill that imposes further sanctions on the Russian economy. Ultimately, he said, "it will be up to President Putin to decide whether or not the economic costs are worth it to him and are worth it to the Russian people".
Ordinary Russians are emptying out ATM machines and standing in long lines to buy appliances and electronics, anything that might hold its value more than the sinking Russian currency. It's led to a strange, albeit temporary boom for Russian consumption.
"Not seeing bank runs and panic just yet. So far there's actually been a mini-consumption boom, as Russians buy durable goods [and real estate] that hold value better than the rouble," said Alexander Kliment, a Russia expert for political risk consultant Eurasia Group.
But it is easy to see how that could quickly shift as the falling rouble makes imports more expensive. Many Russians are accustomed to the hard times of the Soviet era, and the elites in Russia, who enjoy preferences, will now be more beholden to Mr Putin than before as their fate is increasingly in his hands.
"That said, the economic situation will be tough next year. Recession and inflation. Putin's increasingly in a corner, and that's dangerous," said Mr Kliment, who does not expect a retreat from Ukraine. "Ukraine policy ... is a key part of Putin's political support now. To cave on that would be politically disastrous for him."
For months after Russia moved into Ukraine, it was able to weather international sanctions thanks to its revenues from high oil prices. Now, however, oil prices have been roughly halved, giving more bite to US and European sanctions that have sought to isolate Russian energy firms and banks.
Russia's single-resource economy is even more reliant upon oil and gas than the numbers say, according to Indra Overland, a Russia expert at the Norwegian Institute of International Affairs in Oslo.
"Russia is a petro-state," said Mr Overland, adding that falling prices mean job losses throughout the large chain of energy suppliers. "As the oil prices fall, so does Russia."
Unless Russia sharply curtails its public-sector spending, which carries social costs, the other alternative is greater indebtedness, an equally difficult prospect amid an era of falling oil prices. Russia is spending money it doesn't have, much as it did during the arms race that led to the collapse of the Soviet Union.
"The pain this time is self-inflicted," said Keir Giles, director of London's Conflict Studies Research Centre. "It's Kremlin paranoia, based on the obsessive belief that the West is coming to get them."
Mr Putin has largely been out of public view in recent days as the rouble tanked, but he's scheduled to address the nation in an end-of-year press conference on Thursday. By then, he'll know whether the rouble stabilises or whether he'll be drawn into actions to slow the economic bleed.
TNS
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Re: Russia plans new measures to stabilise the rouble
There's something called fundamentals. Right now the fundamentals of the Russian economy which is based almost exclusively on oil and gas is not good. World oil and gas prices are plummeting and there is no certainty when that will reverse or will it ever reverse.
The first ones to be riled by capital controls would be the cronies of Putin who have Worldwide businesses. This would not be an easy thing to do for Putin.
Russia is not an attractive place for entrepreneurs right now. The most promising young entrepreneurs are already leaving Russia for foreign countries. So don't bet too much on diversification while Putin and his cohorts are ruling Russia like a new version of the Czars.
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Re: Russia plans new measures to stabilise the rouble
But even the huge reserves of the State cannot be easily pulled back into Russia as they are invested.
You are talking about the State. The biggest Russian companies (especially those controlled by Putin cronies) are mostly in debt that are denominated in $ or Euros. This presents a very big headache for Russian economic managers.Well actually Russia has the wherewithal -
but how to get the money back is a big Q :shocked:
But even the huge reserves of the State cannot be easily pulled back into Russia as they are invested.
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Re: Russia plans new measures to stabilise the rouble
Anything to do with the Rouble requires to be in one thread so that one can draw a holistic view of the issue.
A good idea.
Anything to do with the Rouble requires to be in one thread so that one can draw a holistic view of the issue.
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amoy
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Re: Russia plans new measures to stabilise the rouble
The Chinese word "crisis" is consisting of 2 syllables weiji wei=peril ji=opportunity , two sides of the same coin. @asianobserve had Russia not been in such a debacle it wouldn't have been willing to sell its shares of Vankor oil fields to Indians. Otherwise Russia would have continued its oil spree as if it would be endless, without bothering abt "reforms". If there were easy bucks who would have been hell bent on toils like "manufacturing" or "innovations"? If they hadn't been on a tight budget, Russians wouldn't have been more interested in Argentine beef, Chinese pork, or Kazakh apples than European, Canadian or Australian substitutes.
Furthermore China, Russia sign $25 billion local currency swap | Reuters so not to be over pessimistic yet!
It all depends on how one turns wei.. into ji.. like in Chinese philosophy.
The Chinese word "crisis" is consisting of 2 syllables weiji wei=peril ji=opportunity , two sides of the same coin. @asianobserve had Russia not been in such a debacle it wouldn't have been willing to sell its shares of Vankor oil fields to Indians. Otherwise Russia would have continued its oil spree as if it would be endless, without bothering abt "reforms". If there were easy bucks who would have been hell bent on toils like "manufacturing" or "innovations"? If they hadn't been on a tight budget, Russians wouldn't have been more interested in Argentine beef, Chinese pork, or Kazakh apples than European, Canadian or Australian substitutes.
Furthermore China, Russia sign $25 billion local currency swap | Reuters so not to be over pessimistic yet!
It all depends on how one turns wei.. into ji.. like in Chinese philosophy.
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Re: Russia plans new measures to stabilise the rouble
Rouble slideshow: World economy to feel the heat
The slide of the Russian rouble sent shock waves across financial markets on Tuesday. The global markets could remain choppy as long as the crisis continues.
Russia's economic woes are a result of the plunge in global crude oil prices and sanctions against the country over Ukraine.
The drying up of oil revenues dented the Russian economy and forced the Central Bank to raise interest rate to 17%. But even this seems to have had limited impact.
Russia earns over half its budget revenues from oil and gas and the global crude price slump has translated into economic pain for Moscow.Prices are down to $59 a barrel from $100 a barrel in June.
There are reasons why global markets need to keep a watch on Russia, the ninth-largest world economy, World Bank says. The close global links of the Russian economy -oil and gas to commodities and banks -means an economic down turn there will impact financial markets. Foreign investors in Russia such as Asian carmakers could be hit.
India is likely to feel the heat in pharmaceuticals and exports will have to deal with lower earnings. Recently , India and Russia promised to raise cooperation in rough diamonds as Moscow looks to diversify its diamond business in view of possible sanctions on the trade.
World Bank says because of Russia's integration into the world economy with exports of resource-intensive products to high-income countries, their growth paths remain entwined.
Experts say high debt levels pose a risk. "Prospects of financial distress are hard to measure, but experience with past market crises underscores the vulnerability that comes from high debt levels. Russia has large external debts (over $700 billion, 34% of GDP), of which two-thirds is public debt," Robert Kahn, Steven A Tananbaum senior fellow, International Economics, says in an article in the Council on Foreign Relations.
The Russian crisis is likely to impact Europe more due to the growing linkages, particularly in energy and banking. Recently Vladimir Putin hinted that nearly 300,000 jobs in Germany hinged on bilateral economic ties.
Rouble slideshow: World economy to feel the heat - The Times of India
Rouble slideshow: World economy to feel the heat
The slide of the Russian rouble sent shock waves across financial markets on Tuesday. The global markets could remain choppy as long as the crisis continues.
Russia's economic woes are a result of the plunge in global crude oil prices and sanctions against the country over Ukraine.
The drying up of oil revenues dented the Russian economy and forced the Central Bank to raise interest rate to 17%. But even this seems to have had limited impact.
Russia earns over half its budget revenues from oil and gas and the global crude price slump has translated into economic pain for Moscow.Prices are down to $59 a barrel from $100 a barrel in June.
There are reasons why global markets need to keep a watch on Russia, the ninth-largest world economy, World Bank says. The close global links of the Russian economy -oil and gas to commodities and banks -means an economic down turn there will impact financial markets. Foreign investors in Russia such as Asian carmakers could be hit.
India is likely to feel the heat in pharmaceuticals and exports will have to deal with lower earnings. Recently , India and Russia promised to raise cooperation in rough diamonds as Moscow looks to diversify its diamond business in view of possible sanctions on the trade.
World Bank says because of Russia's integration into the world economy with exports of resource-intensive products to high-income countries, their growth paths remain entwined.
Experts say high debt levels pose a risk. "Prospects of financial distress are hard to measure, but experience with past market crises underscores the vulnerability that comes from high debt levels. Russia has large external debts (over $700 billion, 34% of GDP), of which two-thirds is public debt," Robert Kahn, Steven A Tananbaum senior fellow, International Economics, says in an article in the Council on Foreign Relations.
The Russian crisis is likely to impact Europe more due to the growing linkages, particularly in energy and banking. Recently Vladimir Putin hinted that nearly 300,000 jobs in Germany hinged on bilateral economic ties.
Rouble slideshow: World economy to feel the heat - The Times of India
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Re: Russia plans new measures to stabilise the rouble
Why Russia's defence industry can bank on Indian money
India has in the past rescued the Russian defence production industry with huge infusion of funds, and can do so in future. It's no wonder cash-strapped Moscow wants India to quickly stitch up deals worth billions of dollars for helicopters, transport aircraft, and another nuclear submarine.
Russia will take solace from Narendra Modi's assurance to Vladimir Putin that Russia will remain India's top defence supplier, although New Delhi may be increasingly sourcing military equipment from the US, Israel and France.
An immediate outcome is India's decision to acquire another Akula-II class nuclear-powered submarine on lease from Russia, much like INS Chakra was inducted in April 2012, on 10-year lease for around $1 billion.
India secretly funded most of INS Chakra's construction after Russia stopped it because of financial problems after Soviet Union broke up in 1991. Russia is now offering another mothballed Akula-II submarine - Irbis - which could cost India over $1.5 billion.
Russia wants early inking of the final R&D contract for the joint fifth-generation fighter (FGFA) project, in which India will invest $5.5 billion to develop a stealth fighter. India will spend around $25 billion on 127 such fighters, to be built domestically, in the FGFA project.
"Russian shipyards and aerospace industry would've floundered had India not placed mega orders in the past," an official said. These include refit of aircraft carrier Admi refit of aircraft carrier Admi ral Gorshkov or INS Vikra maditya ($2.33 billion), six Talwar-class stealth frigates (almost $2 billion), 272 almost $2 billion), 272 Sukhois (project cost over $12 billion), 45 MiG-29Ks ($2 billion), 139 Mi-17 V5s helicopters (over $2 billion).
ndia has been Russia's st defence customer, biggest defence customer, with imports worth over $40 billion over the years. But India has turned to others, miffed at Russia's unreliable delivery schedules, cost revisions, technology transfer hurdles and shoddy spares support.The US has bagged Indian defence deals worth $10 billion since 2007-2008, dislodging Russia for the topmost position in the last three years. But only Russia helps India in strategic projects, from providing nuclear submarines to helping India build its own.
Why Russia's defence industry can bank on Indian money - The Times of India
Why Russia's defence industry can bank on Indian money
India has in the past rescued the Russian defence production industry with huge infusion of funds, and can do so in future. It's no wonder cash-strapped Moscow wants India to quickly stitch up deals worth billions of dollars for helicopters, transport aircraft, and another nuclear submarine.
Russia will take solace from Narendra Modi's assurance to Vladimir Putin that Russia will remain India's top defence supplier, although New Delhi may be increasingly sourcing military equipment from the US, Israel and France.
An immediate outcome is India's decision to acquire another Akula-II class nuclear-powered submarine on lease from Russia, much like INS Chakra was inducted in April 2012, on 10-year lease for around $1 billion.
India secretly funded most of INS Chakra's construction after Russia stopped it because of financial problems after Soviet Union broke up in 1991. Russia is now offering another mothballed Akula-II submarine - Irbis - which could cost India over $1.5 billion.
Russia wants early inking of the final R&D contract for the joint fifth-generation fighter (FGFA) project, in which India will invest $5.5 billion to develop a stealth fighter. India will spend around $25 billion on 127 such fighters, to be built domestically, in the FGFA project.
"Russian shipyards and aerospace industry would've floundered had India not placed mega orders in the past," an official said. These include refit of aircraft carrier Admi refit of aircraft carrier Admi ral Gorshkov or INS Vikra maditya ($2.33 billion), six Talwar-class stealth frigates (almost $2 billion), 272 almost $2 billion), 272 Sukhois (project cost over $12 billion), 45 MiG-29Ks ($2 billion), 139 Mi-17 V5s helicopters (over $2 billion).
ndia has been Russia's st defence customer, biggest defence customer, with imports worth over $40 billion over the years. But India has turned to others, miffed at Russia's unreliable delivery schedules, cost revisions, technology transfer hurdles and shoddy spares support.The US has bagged Indian defence deals worth $10 billion since 2007-2008, dislodging Russia for the topmost position in the last three years. But only Russia helps India in strategic projects, from providing nuclear submarines to helping India build its own.
Why Russia's defence industry can bank on Indian money - The Times of India
Zebra
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Re: Russia plans new measures to stabilise the rouble
But few of resident Russian representatives here on DFI will go nuts to prove it, that India is not a customer / client nation of Russia.
On top of it.......
1) this is the first news report which reveals the truth that India is a customer / client nation of Russia.
2) the price of different arms mentioned in this news article are for Russian supplied kits or for the base model only. IMO.
Assembly cost and / or other western stuff goes on it, are at additional costs. Thus actual weapon cost will be much higher.
I agree with it and it is 100% true. India is a customer / client nation of Russia.
But few of resident Russian representatives here on DFI will go nuts to prove it, that India is not a customer / client nation of Russia.
On top of it.......
1) this is the first news report which reveals the truth that India is a customer / client nation of Russia.
2) the price of different arms mentioned in this news article are for Russian supplied kits or for the base model only. IMO.
Assembly cost and / or other western stuff goes on it, are at additional costs. Thus actual weapon cost will be much higher.
prohumanity
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Re: Fall of Russian ruble injects uncertainty into global economy
NO...I did not say that...BUt..I say this...Iraq was attacked because Americans were angry about 9/11 ....there was not even one terrorist was from Iraq...all of them were from western allies...Saudi Arabia and Egypt....This Iraq debacle lead to fall in consumer confidence in the world and economies started slowing more and more due to wars in Iraq,Afghanistan ,Syria. People in western countries started spending lesser and lesser out of fear and out of fear of taking more debt because they could not borrow or were no more creditworthy. So, this vicious cycle lead to very very slow economic growth. As a rusult ,Demand for oil plummeted and oil producers started selling cheap oil to sustain their economies from collapsing into severe deflation. This put pressure on Russian economy as its major business is Oil and Gas....West choose this time to instigate Ukraine by bribing Ukraine of Money and luring it into EU if they fight against Russia. But, Civil war started in Ukraine. Russia had to protect its naval base in Creamia . Creamian people joined Russia thru referendum making West frustrated and angry. They fueled the civil war with more money and more weapons....all to keep Russia on its toes. Fires of war continue to burn in Iraq, Afghanistan, Syria, Leabanon, Ukraine and so on.....AND..consumer confidence remains in gutter. GET IT !
Putin confirms that seeks further restructure and autonomy for Russian
Putin will seek further cooperation with China and India, as being fast developing countries with increasing energy needs. As he knows that the restructure of the economy will take time, Russia could turn to these markets to sell huge amounts of energy resources. Russia has a big advantage here due to its geographic position and its participation in the BRICS.
the unbalanced evolution of homo sapiens: Putin confirms that seeks further restructure and autonomy for Russian economy
Putin will seek further cooperation with China and India, as being fast developing countries with increasing energy needs. As he knows that the restructure of the economy will take time, Russia could turn to these markets to sell huge amounts of energy resources. Russia has a big advantage here due to its geographic position and its participation in the BRICS.
the unbalanced evolution of homo sapiens: Putin confirms that seeks further restructure and autonomy for Russian economy
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Re: Fall of Russian ruble injects uncertainty into global economy
Sorry, but Iraq War in 2003 has no bearing to Worldwide economic slowdown now (it is only a slowdown, meaning growth rates are vastly slowed, not worldwide recession). IF you are old enough to observe the years after the Iraq War those were the phenomenal growth years especially for BRICS.
Re: Russia plans new measures to stabilise the rouble
The Russians have certain positive aspects and certain negative aspects. It is not correct to see Russians from our perspective. My reading is that Russia is tackling its problems in its own way and with its own resources.
If the crisis results in a Russia that builds on its own strengths rather than looking towards Europe for everything, then all the trouble is justified.
I would not pay too much attention to one individual - Putin. I do not think Russia's destiny will be written by Putin alone. Putin is not a czar in any sense. Putin was asked all kinds of questions by Press in New Delhi and he replied with grace. He is not a dictator at all.
As I said before, we need to see what happens to the economy. Russia needs to listen to Indian Prime Minister. India can provide a lot of support to the Russian economy. Russian bureaucracy is as bad as India's, and that is the problem. The key is to resist Russian tendency of isolationism.
Some people will leave Russia. Your characterisation that "all young entrepreneurs are leaving Russia" is illogical. Some will leave and other will come. These things happen.
Political power exists because of certain conditions. These conditions exist for Russia as a center of Slavic culture and a magnet of Slavic people.
The Russians have certain positive aspects and certain negative aspects. It is not correct to see Russians from our perspective. My reading is that Russia is tackling its problems in its own way and with its own resources.
If the crisis results in a Russia that builds on its own strengths rather than looking towards Europe for everything, then all the trouble is justified.
I would not pay too much attention to one individual - Putin. I do not think Russia's destiny will be written by Putin alone. Putin is not a czar in any sense. Putin was asked all kinds of questions by Press in New Delhi and he replied with grace. He is not a dictator at all.
As I said before, we need to see what happens to the economy. Russia needs to listen to Indian Prime Minister. India can provide a lot of support to the Russian economy. Russian bureaucracy is as bad as India's, and that is the problem. The key is to resist Russian tendency of isolationism.
Some people will leave Russia. Your characterisation that "all young entrepreneurs are leaving Russia" is illogical. Some will leave and other will come. These things happen.
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Re: Russia plans new measures to stabilise the rouble
What do you mean? If you're talking about power in general then it exists everywhere, there's even power relations among animals.
Everyone has their good and dark sides. What we have been busy talking here that concerns Russia is its imperialistic attitude towards its smaller neighbors. That is bad. Ukraine in particular should be allowed to chart its own course.
One possible consequence of the current economic crisis is a rethinking on the current gas station economic model of Russia. Whether or not a shift will be made or whether or not such a shift will be successful cannot be known at the moment.
You should. Putin has amassed so much political power on himself over the years, even you cannot deny it.
I don't have the statistics, but I think US-India bilateral trade is so much bigger than India-Russia. Anyway, I just hope Putin listens to Modi...
I did not say "all," please read again my post. There are obviously die hard Russian nationalist businessmen who will not leave Russia even if it becomes a smoldering wasteland (I'm not saying it will become one), you can see them around Putin. But for a lot of young start ups, the deteriorating atmosphere of freedoms in Russia and shrinking capital opportunities are too much for them. The plight of these group of Russians is crucial if Russia is to successfully diversify away from over reliance on oil.
pmaitra
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Re: Russia plans new measures to stabilise the rouble
@asianobserve, you never get tired of spouting the State Department mythology.
Donetsk, Lugansk, Kharkov, Zaparozhiya, etc., should be allowed to chart their own course.
The people whose apparition you see around Putin, such as that tax fraud Khodorkovsky, and that now decimated thug Berezovsky, are actually seen in western capitals, not around Putin. Putin doesn't surround himself with criminals. He surrounds himself with people who care for the nation.
Putin, to me, is too liberal. If I were him, I'd chuck out those deceitful Finnish propaganda publications that maliciously and dishonestly call themselves the Moscow and St. Petersburg Times, respectively. This is just one example.
@asianobserve, you never get tired of spouting the State Department mythology.
Ok, let us come back to real life, and talk about the imperialistic global warmongering of the US towards its smaller "neighbours" who are thousands of miles away and pose no threat to the US.
Crimea in particular has been allowed to chart its own course.
Donetsk, Lugansk, Kharkov, Zaparozhiya, etc., should be allowed to chart their own course.
Of course, no one denies that diversification is required, as there is always room for improvement. I also think, a gas station economic model, is resource based, and is better than usury based economic model that is bound to collapse.
The simple rule to political power is looking out for your citizens. A leader who cares for his subjects, is loved by his subjects in return.
I can't see them around Putin. In fact, I see almost all of Russia around Putin.
The people whose apparition you see around Putin, such as that tax fraud Khodorkovsky, and that now decimated thug Berezovsky, are actually seen in western capitals, not around Putin. Putin doesn't surround himself with criminals. He surrounds himself with people who care for the nation.
I don't see any deteriorating atmosphere as far as freedom goes. Yes, I do see a welcome lack of freedom for western funded NGOs whose purpose is to groom and finance criminals and bandits.
Putin, to me, is too liberal. If I were him, I'd chuck out those deceitful Finnish propaganda publications that maliciously and dishonestly call themselves the Moscow and St. Petersburg Times, respectively. This is just one example.
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pmaitra
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Re: Russia plans new measures to stabilise the rouble
Russia's Elvira Nabiullina: Central Banker of the Year
Calm in the face of incredible pressure.
She has her fans, as much as detractors
Robert Wenzel (Economic Policy Journal) [SOURCE]
Robert Wenzel is a popular libertarian commentator. As such he doesn't go for economic interventionism, ergo he sees a lot to like about the Russia Central Bank right now.
This article originally appeared at Economic Policy Journal.
Russia's Elvira Nabiullina: Central Banker of the Year
Calm in the face of incredible pressure.
She has her fans, as much as detractors
Robert Wenzel (Economic Policy Journal) [SOURCE]
Robert Wenzel is a popular libertarian commentator. As such he doesn't go for economic interventionism, ergo he sees a lot to like about the Russia Central Bank right now.
This article originally appeared at Economic Policy Journal.
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Re: Russia plans new measures to stabilise the rouble
It was not a happenstance, but a well calculated move to 'sort out' Russia even if some oil producing countries bled. They had the reserve money to gamble for a better future to make up the loses.
Look at issues holistically and analyse even if you don't get it direct from Obama's mouth.
So, @asianobserve, what have to say about what was planned for Russia?
It was not a happenstance, but a well calculated move to 'sort out' Russia even if some oil producing countries bled. They had the reserve money to gamble for a better future to make up the loses.
Have you now understood the game?
Look at issues holistically and analyse even if you don't get it direct from Obama's mouth.
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Re: Russia plans new measures to stabilise the rouble
I'm not reading any material from the US State Department if that is what you mean. But if you only have an open mind you will easily see that what Russia is insisting - control of Ukraine's foreign policy - is a throw-away to imperial times.
Okay, even granting the US is acting as imperialistic as Russia, still American sins do not make Russian actions right.
I'm not reading any material from the US State Department if that is what you mean. But if you only have an open mind you will easily see that what Russia is insisting - control of Ukraine's foreign policy - is a throw-away to imperial times.
...illegally by Russia.
That's a recipe for global anarchy....
Just look at what is happening to Russia now...
Just like how Germans loved Hitler in the lead up to WW2... They genuinely adored him.
Because you are not allowed inside Putin's guilded mansions... Bonga-bonga would be nice for you. You need to chill out.
He needs some semblance of free press in Russia.
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