Sanctions failed, Russia recorded a historic high trade surplus of $58bn in the first quarter of 2022

from Aljazerra

Russia’s President Vladimir Putin has said that the barrage of Western sanctions imposed against Russia over its invasion of neighbouring Ukraine has failed.

Putin said on Monday that the West “expected to quickly upset the financial-economic situation, provoke panic in the markets, the collapse of the banking system and shortages in stores”.

Putin confirms ruble increasing in value and western sanctions have failed, backfiring on the west causing energy shortages

He added that “the strategy of the economic blitz has failed” and instead led to a “deterioration of the economy in the West”.

The Russian leader spoke in televised remarks during a video call with top economic officials.

Western countries have imposed unprecedented sanctions on Russia’s corporate and financial system since it sent troops into Ukraine on February 24 in what it calls a “special military operation”.

Putin noted that “Russia has withstood the unprecedented pressure”, arguing that the rouble has strengthened and the country has recorded a historic high trade surplus of $58bn in the first quarter of the year.

Instead, he contended that the sanctions backfired against the United States and its European allies, speeding up inflation and leading to a drop in living standards.

Putin acknowledged a sharp hike in consumer prices in Russia, saying they rose by 17.5 percent as of April on a year-to-year basis and directing the government to index wages and other payments to alleviate the impact of inflation on incomes.

Putin said Russia should use its budget to support the economy and liquidity in conditions of contracting lending activity even though the central bank’s rate cuts will make lending cheaper.

He also said Russia should speed up the process of using national currencies in foreign trade under the new conditions.

The World Bank has said it expects the economy to shrink by more than 11 percent this year.

About Editor, cairnsnews

One of the few patriots left who understands the system and how it has been totally subverted under every citizen's nose. If we can help to turn it around we will, otherwise our children will have nothing. Our investigations show there is no 'government' of the people for the people of Australia. The removal of the Crown from Australian Parliaments, followed by the incorporation of Parliaments aided by the Australia Act 1987 has left us with corporate government with policies not laws, that apply only to members of political parties and the public service. There is no law, other than the Common Law. This fact will be borne out in the near future as numerous legal challenges in place now, come to a head soon.

Posted on June 3, 2022, in ABC, NATO, Russia, United Nations, United States, Volodymyr Zelensky and tagged , . Bookmark the permalink. 19 Comments.

  1. Putin no angel but in comparison to the U.S. crimes against the whole world in the name of a fast buck at all costs. I actually think the U.S needs to be brought down.

    Like

  2. CATACLYSMIC DUCK

    Alzheimer man trippy Joe crashing his burnt out Fiat with sanctions, is a real opportunity for Australian corn and sunflowers producers.

    May 26, 2022 article from ELECTROVERSE.net

    RUSSIA SNUBS UN’S GRAIN-FOR-FERTILIZER PLAN
    The U.N. has proposed that Russia unblocks the key Black Sea grain hubs in exchange for the releasing of Russian and Belarusian fertilizer exports from Western sanctions, but analysts say Moscow isn’t interested in the deal.
    “A swap like this won’t happen now,” said a Russian grain industry source, who asked not to be named due to the sensitivity of the issue. “If the grain is going to be exchanged, it’s likely to be for something more.”
    Russia produces 13% of the world’s fertilizers and usually exports to Latin America, Europe, Asia and Africa. Belarus, Russia’s ally, is also a big producer of potash, and its exports have also been hit by Western sanctions. Worth also noting, Russia and the Ukraine account for 30% of the world’s wheat exports, mainly via the Black Sea, and 80% of global sunflower oil.
    U.N. Secretary-General Antonio Guterres said last week he was in “intense contact” with Russia, Ukraine, Turkey, the United States and the European Union, urging “goodwill on all sides” to restore Ukrainian grain exports as a global food crisis worsens.
    But goodwill is lacking in Moscow, reports Reuters, which has blamed the Western sanctions for the food shortages.
    President Vladimir Putin is purportedly well-aware of the “great danger” that the current situation could lead to hunger, but has said that Ukraine thwarted its own exports by placing mines in the Black Sea.
    Russia, the world’s largest wheat exporter, usually competes with the Ukraine to supply the Middle East and Africa. This year, however, Russia is free to export its grain with minimal competition. Their Black Sea ports remain open, while Ukraine’s have been blocked since Moscow first sent troops their earlier in the year.
    For now, Russia seems to be holding all the cards. The country is also expecting a decent domestic wheat harvest this year, which has led the grain industry source to conclude that Russia has the ability to ease the global food crisis “and do it at high prices”.
    Russian Deputy Foreign Minister Andrei Rudenko told news agencies that Moscow was ready to provide a humanitarian corridor for vessels carrying food, without a Western escort, in return for the lifting of some sanctions. However, this would mean demining the seas around Odesa, Ukraine’s principal deep-sea port, where Kyiv fears an amphibious invasion could occur.
    Grain prices remain at record highs due to a myriad of factors, not just the Black Sea disruptions. Unpredictable weather patterns globally are causing headaches, as are the restrictions and export bans seen in such nations as India and Indonesia.
    It’s a complex situation, and one that won’t be resolved anytime soon: “The 2022/23 farming year will be hungry and cold,” the source concluded. “You reap what –and how– you sow. They will reap the whirlwind.”
    So, for at least the time being, the risk of famine persists. And while a shortage of wheat is a major concern, a reduction in global corn exports will bring bigger issues. A typical grocery store contains 4,000 items that list corn as an ingredient on the label. Many other products depend on corn as well, from paper goods and cardboard packaging, to all the meat, milk, eggs, poultry and other protein products that come from corn-fed animals. Corn harvests are being smacked across the globe this season, most notably in the North America–where delayed spring planting and fertilizer shortages are ongoing; and also in South America–where recent early-season freezes have threatened Argentinian and Brazilian crops at a key growing stage.

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  3. Mr Reynard,
    Whilst I presume that your comment was tongue in cheek It may be just what is needed to kick our lazy population into producing again, and hopefully get rid of all those pointless bloody licenses.

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  4. To solve our Australian Economics problem, we need the World to impose sanctions on Australia ?

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  5. You might well chortle David!, as we both know they are insane, – so will try it anyway.

    Einstein summed it up nicely: ‘the definition of insanity is repeating the same formula, whilst expecting different results.’

    It’s nice being ring side spectators.

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  6. hehe… Yes H., but there is always the Meschiah to fall back on, and with the concentration of global power and wealth the guverners won’t care. They plan to be at the top of the food chain, with plenty of meat, all they can eat and with much less competition from the “useless eaters and breathers”.

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  7. You brought up a good point David: ‘A One World Government cannot tolerate huge wealth discrepancies across different regions.’

    Yet it was for this precise reason, ie. the discrepancies between the northern European economies and the Southern European economies (PIGS), that from day one, economists said was unworkable and would cause the economic collapse of Europe, – which is where we are now.

    If the Euro created this local economic apocalypse, any global replication of this would be sheer insanity!

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  8. Lovely…

    Liked by 1 person

  9. Putin has been preparing for this for a long time, he knows what the West is up to – the US has been trying to take Russia down since WW1. Whilst the sanctions have backfired as far as Russia goes, they are causing havoc around the world – which is playing into the WEF hands very well (Great Reset) – and probably part of the plan as well – .

    Food shortages, reduced fertilizer production (Russia is a large producer) so this affects farmers, higher fuel/energy prices – unemployment, more poverty, more misery and famine. Russia is also a supplier of neon and freon gases and other rare minerals which are needed to make microchips for computers, cars and lots of other things.,

    Maybe this is why the West wants to keep this war going… As someone pointed out, all mention of covid disappeared in the media about the same time as the war in Ukraine started, late February… While people are distracted with all this, what else is going on behind the scenes – is to distract people from all the toxic jab deaths and side effects, the introduction of Digital ID, or cashless whatever…!

    Liked by 1 person

  10. The demolition and winding back of wealthy economies is part of “bridging the gap”. A One World Government cannot tolerate huge wealth discrepancies across different regions.

    The guvernors won’t and can’t bring up the poor regions enough so the wealthy regions have to go down.

    In any event, they need a good excuse for the collapse which is inevitable as the global Ponzi scheme will soon zero the global currency. .

    Plandemics, a broader war or series of wars and the cost of a planetary “rescue” from climate change will do as the cause of the crash.

    As with all previous global financial crises, the richest of the rich will transfer even more riches into their coffers as the poor get skinned in the process and explode in number.

    In essence we can expect a neo-feudalist world with the Money Merchants as the aristocrat class served by compliant serfs, so fragmented and at loggerheads with each other that they can never raise a challenge to their misery.

    Until, of course, their Meschiah arrives and saves them all in a few thousand years.

    Liked by 2 people

  11. When you look beyond the noise, it is only around 15% of the World who are committed to sanctioning Russia, the remaining 85% are happy to continue trading as normal.

    It’s becoming increasingly apparent, that Europe has sanctioned itself by cutting off it’s own energy source, and some of it’s food supplies.

    In Britain electricity bills have gone up twice since February, and there is already talk of winter rationing. Germany is in a worse predicament.

    Russia has recently implied, that even when the Ukraine situation has been resolved, it may not sell its gas to Europe. It calls them a ‘problem customer,’ – they switch Nordstream on, then off, then back on, then off again, – Russia has had enough!, it will accept a loss of income and look for new customers, such as India.

    India and China are now buying Russia’s surplus energy at a very good price, so their production costs are going down [and profits going up], whilst Europe’s are going up [and profits going down]. So how can Europe compete on the World stage?, – it can’t, and how can Europe sell it’s now overpriced goods to the home market, when people have no surplus cash due to the inflation of essentials such as energy and food?, – it can’t.

    With it’s current batch of leaders, socialist Europe now has only one place to go, – meaning the natural progression from socialism into communism: a political system befitting of witless people. The Europeans will soon understand the difference between ideology and reality.

    This state of affairs [or affairs of State!] will surely extend throughout the inter-connected Western economies, athough to what degree remains to be seen.

    By 2040, China will be the World’s leading economy, where in mutual harmony with other emerging economies such as India, Russia, etc, a new World of inter-dependent trade will be forged, without the incessant interference of Western sanctions, SWIFT banning, etc.

    Patriots with foresight and intelligence should have already done so, or should plan accordingly.

    Liked by 1 person

  12. periguinfalcon

    Ukraine is just another Jewish murdering state, Zelensky is a jew siphoning stolen dollars and people’s charity! It’s all engineered like covid and just about everything else.

    Liked by 2 people

  13. Bit rough, Boris, don’t think Zelensky actually ORDERED the AZOVs to murder civilians, think they just do it because they like it (actually, they’ve been doing it since 2014)

    Liked by 1 person

  14. Who cares what the World Bank says?

    The WB/IMF/WTO and BIS were behind the NATO push in the first place.

    Gold Stock observers report that Russia has been hoarding gold for seven years which, added to Putin’s range of new hypersonic missiles, explains his deferment of confronting the Nazi/NATO encirclement of Russia.

    I would sooner kiss a cobra before trusting Putin, but I would match his intelligence, caution, organisational ability, efficiency, and steely nerve, against any other world leader. He is the global chess board champion par excellence; which must have infuriated the Rockefeller’s Zbigniew Brzezinski, who foolishly crowned himself with that title. Hilariously, his daughter plays the same game. These people never learn.

    This also explains why the Rockefeller’s NED, Council for Foreign Relations, and the Trilateral Commission, got Ukraine and the sanctions strategy so wrong. It is now clear that they put elitist ideology above science, and that their version of economics reflects a chosen belief system and not observable rules of economics and people behaviour.

    Their miscalculations have also become spectacularly apparent with the WEF’s attempt to globalise individual citizens’ health status rights. Half the world has told Klaus to piss off.

    If we glance across the politico-economic spectrum, it is becoming increasingly obvious that the Globalist plan was oblivious to that ephemeral human characteristic, The Human Spirit…. whatever that means.

    ‘A love of humanity’ was simply not factored in.

    This explains why anti-American atheists like me, who have long despised Christian duplicity in this war, are now seamlessly fighting shoulder to shoulder with Christian Patriots, invariably American, no less. Confirming this, the brilliant and articulate Mike Adams has become as familiar to many Australians as to Americans.

    Clowns like Schwarb are incapable of comprehending this phenomenon. Frankly, I flounder trying to understand it myself, but it is happening nevertheless, all around the world.

    Klaus, tell your superiors we are coming for them. And when they are all dead, your neck will stretch.

    Liked by 3 people

  15. periguinfalcon

    The West are on drugs

    Liked by 1 person

  16. Hey Boris, Natasha is looking for you. She says you left your meds behind when you left the house this morning.

    Liked by 1 person

  17. You have been watching too much main stream media. Don’t believe that. Ed

    Like

  18. Boris Boretski

    Can you really believe a monster who would order his military to gun down women and children in the streets?

    Like

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