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TASS — Russia underestimates new package of US sanctions — think tank

Summary:
Ha ha. What former finance minister Alexey Kudrin thinks is a bug is actually a feature.Sanctions will result in Russia having to rely one its power as a sovereign currency issuer, which it should have been using from day one. According to ex-minister, the country will be forced to widen the use of the national currency in payments. "This sanctions story creates huge risks for transactions in more stable currencies. This will trigger the use of the ruble even if it turns out more expensive," he said. Russia should look east to China rather than looking west. China has this figured out.TASSRussia underestimates new package of US sanctions — think tank

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Ha ha. What former finance minister Alexey Kudrin thinks is a bug is actually a feature.

Sanctions will result in Russia having to rely one its power as a sovereign currency issuer, which it should have been using from day one.

According to ex-minister, the country will be forced to widen the use of the national currency in payments. "This sanctions story creates huge risks for transactions in more stable currencies. This will trigger the use of the ruble even if it turns out more expensive," he said.
Russia should look east to China rather than looking west. China has this figured out.

TASS
Russia underestimates new package of US sanctions — think tank


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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