by 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
Topics:
Mike Norman considers the following as important: currency issuer, currency sovereignty, Russia, sanctions
This could be interesting, too:
Robert Skidelsky writes Lord Skidelsky to ask His Majesty’s Government what is their policy with regard to the Ukraine war following the new policy of the government of the United States of America.
Robert Skidelsky writes House of Lords Speech – Ukraine: “A wake up call” (International Relations and Defence Committee Report)
Robert Skidelsky writes The American Conservative – Why Is the UK So Invested in the Russia–Ukraine War?
Robert Skidelsky writes The American Conservative: Skidelsky on Russia, Ukraine and the Future of European Security
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