- cross-posted to:
- world@quokk.au
- cross-posted to:
- world@quokk.au
Summary
Russia’s stock market lost $23.7 billion in two days after Trump’s new global tariffs and a steep oil price drop, marking its worst week since 2022.
The MOEX Russia Index fell 8.05%, with major firms like Sberbank, Gazprom, and Rosneft plunging. Brent crude dropped 12%, and copper fell 11%, stoking global recession fears.
Russia, heavily reliant on commodity exports, faces budget strain and potential ruble devaluation.
Peace talks over Ukraine remain stalled as the U.S. signals impatience, and NATO sees no shift in Russia’s war objectives.
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The most dangerous aspect for the Russian economy is probably the low oil price. They are operating with minimal profits at normal times, and low prices like now they have to put money into the business instead of getting profits out of it.
Russia didn’t even get a tariff right? So they hurting just from side-effects? lol
Trump, like Putin, doesn’t understand strategy. They both only understand tactics.
Turns out when lunatics seize control of the insane asylum, except the asylum is the world’s wealthiest economy, it ultimately impacts every economy on earth.
they didn’t get tariffs because they are embargoed.
Except we did something like $3.5b in trade with them last year somehow. And they taxed uninhabited islands.
The uninhabited islands bit is interesting. It looks like they stumbled on a massive money laundering operation. Not that they’ll look into it, mind you.
They tariffed penguins though.
good thing penguins still have antartica
Big Cheeto was afraid the penguins would flood American markets with cheap eggs, thus the tarifs.
…are penguin eggs any good? Like, I’m guessing chicken eggs are as popular as they are mostly because chickens are easy to handle as livestock; not because their eggs or meat is anything special relative to other birds.
Like, the absolute best eggs and drumsticks and such might be some Chilean parrot or something, but we don’t and will never know because they’re squirrelly little fuckers and bite the shit out of anyone who gets close, so we just dismiss them as not worth the effort.
…are penguin eggs any good?
They are if you like eating translucent blue eggs that taste of fish.
Huh. Well I’m intrigued more than anything else… I’d try it.
I’m guessing chicken eggs are as popular as they are mostly because chickens are easy to handle
There’s more to it. Chickens lay lots of eggs (like a dozen) before going broody (when they stop laying and just sit on the eggs to keep them warm), so production is high. Penguins OTOH, lay one of two per season.
I’m guessing chicken eggs are as popular as they are mostly because chickens are easy to handle
Except that they are. Chickens that are actually raised free, and peck on insects, herbs and other stuff outside lay eggs that are absolutely delicious, and the meat is also very tasty. You can even say that they come pre-seasoned, if you don’t mind chewy meat.
The almost tasteless eggs/meat come from industrial scale farming that feeds the chickens with grain-based feedstock in large amounts, so they grow quickly. (source: my aunts raised free-range chickens for both eggs and meat. They were really tasty)
they didn’t tariff any embargoed countries, that includes cuba and north korea
They didn’t get tariffed because Trump is a Russian asset
and a cuban one, apparently
lmao, when Krasnov’s stupidity manages to hurt Russia even when he excludes them from sanctions.
I just want to say MAGA voters - good job
Yeah, if this was the Drumpfsters end goal, then well done.
I absolutely doubt it was anything but an unexpected consequence, which the US regime will try and correct tomorrow
$23.7 billion is nothing, are these guys a third world country or something?
yeah what a bunch of hacks. The US can out third-world country them any day of the week.
Really puts the £36 TRILLION that’s sitting liquid in offshore tax havens into perspective. $23.7 billion isn’t even 1% of that.
It would be so easy to tackle the offshoring of US tax funds.
- Implement better tax laws.
- Billionaires attempt to leave the country with their ill-gotten booty.
- Send Seal Team Six after them like Bin Laden. Drop bombs if you have to. The word “billionaire” should be synonymous with “terrorist.”
- Problem solved.
The fun part is we can’t even fuck up our image on the world stage because Trump already did that.
The entire global trade system is in free fall.
It’s so crazy to blink past tanking indexes in Tokyo, Frankfurt, and Dubai while pumping a fist and announcing “Fuck yeah! We got Russia!”
If anyone should be extremely worried right now, you’d think it would be the Saudis. Not one of the most sanctioned countries on earth.
It’s so crazy to blink past tanking indexes in Tokyo, Frankfurt, and Dubai while pumping a fist and announcing “Fuck yeah! We got Russia!”
When the US suffers along with the rest of the world: “YES! Take THAT Amerikkkan Empire!”
When Russia suffers along with the rest of the world: “W-we shouldn’t celebrate… t-think of everyone else who’s being hurt…”
Curious, the difference in reactions to the exact same fucking crisis.
Wow trump has done more to hurt the Russian war effort in two days with tariffs than Biden did in 3 years. That’s something, I guess…so we got that goin for us.
I thought that there were no tarrifa added to Russia in the recent wave?
There weren’t. This is just a nice side effect.
tariffs were the key to destroy russia after all.
He fucked the global economy. Of course it’s going to hurt Russia. It’s like setting yourself on fire because you have cancer - sure, the cancer will suffer *too. *
It was a joke bcz he’s done basically nothing good in the last three months.
After re-reading your comment, I see that too. Sorry.
That is basically how we treat cancer.
… Chemotherapy targets rapidly dividing cells (e.g. cancer, hair, blood). Most cells in your body don’t undergo mitosis often enough to be affected by chemo.
Besides, we have a host of other treatments for cancer:
…to name a few categories.
So, no this is not even “basically” how we treat cancer.
Apparently in addition to Trump probably producing a recession and thus clobbering oil demand, OPEC decided, for some reason, to increase production.
https://finance.yahoo.com/news/oil-extends-sharp-drop-surprise-061831274.html
Oil’s rout was triggered Thursday by US President Donald Trump deluge of tariffs, which threaten the global economy and energy consumption. Hours later, OPEC+ tripled a planned output hike for May, in what delegates called a deliberate effort to lower prices to punish members that were pumping above their quota.
West Texas Intermediate futures have fallen about 14% in just two days — settling near $61 a barrel in a move similar to steep losses seen during the pandemic — while Brent also ended the day at the lowest since 2021. The declines were exacerbated on Friday by China’s retaliation against the US duties, including a 34% tariff on all imports from the US starting within a week.
Both are bad news if you’re a major oil exporter.
I’d guess they’re increasing production on the hopes that less countries purchase from the US
fewer
I understood that middle eastern oil can be dirt cheap because it is simply pumped, whereas US oil can’t be because you have a lot more costs, especially with fracking.
They’re trying to block “drill baby, drill” by making it unprofitable for companies to do that
It’s also a different type of crude, a lot of US refineries can’t use the light sweet crude that the US mainly has, they are configured to use sour crude that opec mainly has.
I wonder how much of what happened after Brexit can be applied here
Nothing, other than regret for it’s supporters
That’s something tho. Definitely a big shift in political opinion in their 2024 election. You don’t think we can expect to see other similarities? Devaluation of our currency. Prices of common goods increased. Wages outpaced inflation decently.
The world gets poorer > oil and other raw materials become cheaper > Russia earns less money > Russia also gets poorer.
