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The Swiss Connection: How Russia Is Weathering Tough Sanctions — Alex Kimani

Summary:
Continued oil and gas exports as well as a propped-up ruble, have allowed Moscow to weather Western sanctions.JPM has backtracked on its earlier forecasts of a 35% contraction in Russian GDP in the second quarter.The lion's share of Russian raw materials is traded via Switzerland and its nearly 1,000 commodity firms.Swiss commodity traders are enabling Russia's sales of its resources. This is a huge contribution to Swill GDP so the Swiss are in no rush to give it up, knowing that nature abhors a vacuum so someone else will step in and take the business. OilpriceThe Swiss Connection: How Russia Is Weathering Tough SanctionsAlex Kimani

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  • Continued oil and gas exports as well as a propped-up ruble, have allowed Moscow to weather Western sanctions.
  • JPM has backtracked on its earlier forecasts of a 35% contraction in Russian GDP in the second quarter.
  • The lion's share of Russian raw materials is traded via Switzerland and its nearly 1,000 commodity firms.
Swiss commodity traders are enabling Russia's sales of its resources. This is a huge contribution to Swill GDP so the Swiss are in no rush to give it up, knowing that nature abhors a vacuum so someone else will step in and take the business.

Oilprice
The Swiss Connection: How Russia Is Weathering Tough Sanctions
Alex Kimani

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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