The latest American sanctions on Belarus have one interesting feature. While being very destructive for Lukashenko’s regime, they still leave him and Russia a little room to move.
Washington has hit Belarus’s major export company Belaruskali which controls about 20% of global potash market. Yet Belarusian Potash Company, which sells potash fertilizers produced by Belaruskali, hasn’t been included in the list.
According to Bloomberg, The U.S. issued licenses allowing counterparts to wind down transactions with Belaruskali -- or any entity in which it owns at least a 50% interest -- by Dec. 8, giving consumers time to find alternative supplies.
The licenses can be extended – or not. It will depend on the course of events.
Washington has hit Belarus’s major export company Belaruskali which controls about 20% of global potash market. Yet Belarusian Potash Company, which sells potash fertilizers produced by Belaruskali, hasn’t been included in the list.
According to Bloomberg, The U.S. issued licenses allowing counterparts to wind down transactions with Belaruskali -- or any entity in which it owns at least a 50% interest -- by Dec. 8, giving consumers time to find alternative supplies.
The licenses can be extended – or not. It will depend on the course of events.
UK imposed sanctions on Russian oligarch Mikhail Gutseriev for his ties with Lukashenko. Gutseriev is very close to Belarusian president and is instrumental in various oil and finance operations in the country, including those with cryptocurrency.
It is ironic that, while having problems with Kremlin in the mid 2000s, Gutseriev fled to London through Minsk airport.
Now London sanctioned him for his ties with Minsk.
It is ironic that, while having problems with Kremlin in the mid 2000s, Gutseriev fled to London through Minsk airport.
Now London sanctioned him for his ties with Minsk.
German police arrested a British diplomat in Berlin on suspicion of passing documents to Russian intelligence. The arrest has been confirmed in Scotland Yard.
Russian foreign intelligence under Sergei Naryshkin is one public failure after another. Perhaps, Naryshkin should pay more attention to his duties instead of swimming in private pools of his Azerbaijani friends in Moscow or writing funny articles.
This failure of Russian intelligence has a more interesting dimension though. Angela Merkel, who has closer contacts with Putin than any other European leader, is leaving her office after decades of serving as a Chancellor.
Merkel is supposed to visit Moscow before that and discuss some terms of future cooperation between the Russia and Europe. The arrest of another Russian spy gives her visit a negative context.
The fact that he is British shows that Britain is keen to prevent any kind of continental alliances against The Island.
Russian foreign intelligence under Sergei Naryshkin is one public failure after another. Perhaps, Naryshkin should pay more attention to his duties instead of swimming in private pools of his Azerbaijani friends in Moscow or writing funny articles.
This failure of Russian intelligence has a more interesting dimension though. Angela Merkel, who has closer contacts with Putin than any other European leader, is leaving her office after decades of serving as a Chancellor.
Merkel is supposed to visit Moscow before that and discuss some terms of future cooperation between the Russia and Europe. The arrest of another Russian spy gives her visit a negative context.
The fact that he is British shows that Britain is keen to prevent any kind of continental alliances against The Island.
Another corrupted local official was arrested in a southern Russian region, which made Russian media claim that FSB, MVD (Ministry of Internal Affairs) and Federal Investigative Committee started “decriminalizing” one particular region.
Good joke. What Russia really needs is decriminalization of FSB, MVD and Investigative Committee themselves. Siloviks are practically in charge of enormous Russian corruption.
Random regional officials, even high-ranked, won't make any difference. Money is in Moscow, so is the corruption.
Good joke. What Russia really needs is decriminalization of FSB, MVD and Investigative Committee themselves. Siloviks are practically in charge of enormous Russian corruption.
Random regional officials, even high-ranked, won't make any difference. Money is in Moscow, so is the corruption.
Russian Feudals
Russian MP from Dagestan Magomed Gadzhiyev presented $1mln in cash to Dagestani freestyle wrestler for his gold medal in Tokyo Olympics. Where did he get this amount of money might be a trick question – like many of his colleagues in State Duma, Gadzhiyev is believed to be a criminal.
Local MP in Kamchatka, Russian Far East, billionaire Igor Redkin has accidentally killed a man at a garbage dump in the village of Ozernovsky. According to Redkin, he was shooting a bear at the dump to protect people in the village.
Locals believe though, that Redkin went on safari. Bears are often coming to garbage dumps in this part of the country and local strongmen are shooting them for fun, although it is prohibited under Russian law.
Redkin hasn't been arrested. That’s how these people live.
Russian MP from Dagestan Magomed Gadzhiyev presented $1mln in cash to Dagestani freestyle wrestler for his gold medal in Tokyo Olympics. Where did he get this amount of money might be a trick question – like many of his colleagues in State Duma, Gadzhiyev is believed to be a criminal.
Local MP in Kamchatka, Russian Far East, billionaire Igor Redkin has accidentally killed a man at a garbage dump in the village of Ozernovsky. According to Redkin, he was shooting a bear at the dump to protect people in the village.
Locals believe though, that Redkin went on safari. Bears are often coming to garbage dumps in this part of the country and local strongmen are shooting them for fun, although it is prohibited under Russian law.
Redkin hasn't been arrested. That’s how these people live.
Ona Utonula
- You tell me, what happened to the submarine?
- (smiling) It sank.
Russian nuclear-powered submarine Kursk sank 21 years ago, on August 12, 2000, killing all 118 sailors aboard. A month later Putin gave his infamous CNN interview to Larry King. Answering the question about the reasons of this disaster he smiled and said “ona utonula” (“it sank” in Russian).
Putin and the whole Russian government handled the tragedy poorly and fell under heavy criticism of federal media. It was, perhaps, the moment when Putin made a decision to get rid of any free media in the country.
Putin’s “ona utonula” is a symbol of Kremlin’s traditional view of its own people: their lives do not matter. No responsibility.
Declassified scripts of Clinton Digital Library in 2019 showed that even in the aftermath of the tragedy, while speaking with Bill Clinton, Putin was mostly concerned about his ratings.
- You tell me, what happened to the submarine?
- (smiling) It sank.
Russian nuclear-powered submarine Kursk sank 21 years ago, on August 12, 2000, killing all 118 sailors aboard. A month later Putin gave his infamous CNN interview to Larry King. Answering the question about the reasons of this disaster he smiled and said “ona utonula” (“it sank” in Russian).
Putin and the whole Russian government handled the tragedy poorly and fell under heavy criticism of federal media. It was, perhaps, the moment when Putin made a decision to get rid of any free media in the country.
Putin’s “ona utonula” is a symbol of Kremlin’s traditional view of its own people: their lives do not matter. No responsibility.
Declassified scripts of Clinton Digital Library in 2019 showed that even in the aftermath of the tragedy, while speaking with Bill Clinton, Putin was mostly concerned about his ratings.
United Russia’s top candidate in the coming Duma elections Defense Minister Sergei Shoigu said that moral degradation and internal disintegration are major threats in Russia.
A couple of days after him another top candidate in the coming Duma elections Foreign Minister Sergei Lavrov said that bears in Russia live better than Native Americans in the US. Don’t know why he brought up America in his speech in front of Russian youth, but whatever.
It is ironic and funny how billionaires like Shoigu and very rich people like Lavrov, both of them being top-ranked public figures almost forever, will talk about anything but major Russian problems – poverty, corruption and overcentralization.
Mr. Lavrov should know that the vast majority of Russian have a monthly income of $250-300, which makes the whole country a reservation by American standard.
We do not know about the well-being of bears in Alaska, but assume that, unfortunately, they also live much better than 80% of Russians.
A couple of days after him another top candidate in the coming Duma elections Foreign Minister Sergei Lavrov said that bears in Russia live better than Native Americans in the US. Don’t know why he brought up America in his speech in front of Russian youth, but whatever.
It is ironic and funny how billionaires like Shoigu and very rich people like Lavrov, both of them being top-ranked public figures almost forever, will talk about anything but major Russian problems – poverty, corruption and overcentralization.
Mr. Lavrov should know that the vast majority of Russian have a monthly income of $250-300, which makes the whole country a reservation by American standard.
We do not know about the well-being of bears in Alaska, but assume that, unfortunately, they also live much better than 80% of Russians.
Afghan Choice
Taliban overrun Afghanistan during the weekend and is now at its historic peak. International agenda is dominated by the images of panic in Kabul, American media and both democrats and republicans are eating Biden alive.
We are understandably lost in the moment emotionally. Rationally Biden made the right call.
It looks really, really bad, and of course this swift collapse of Afghan government hurt not only the reputation of America, but also the values it represents. Let’s not deny obvious facts.
Let’s also not deny that American presence in the country made no sense anymore. We could be there for 20 more years and spend another trillion of dollars – with the same result.
Afghanistan is an ultimate failed state, and there is nothing we can do about it. Taliban is the choice of the Afghans. To be honest, Biden just fixed American profits and moved forward.
Afgan army collapsed in a blink of an eye having all kinds of advantages over Taliban. There was no resolve, they didn’t even try. It was well-known months ago, so what’s the big surprise.
Many people in DC advocated for withdrawal years ago, but no President before Biden was able to take this responsibility. He did. The game goes on, we will move forward.
Supporting Biden in this one. Should’ve been done long, long time ago.
Taliban overrun Afghanistan during the weekend and is now at its historic peak. International agenda is dominated by the images of panic in Kabul, American media and both democrats and republicans are eating Biden alive.
We are understandably lost in the moment emotionally. Rationally Biden made the right call.
It looks really, really bad, and of course this swift collapse of Afghan government hurt not only the reputation of America, but also the values it represents. Let’s not deny obvious facts.
Let’s also not deny that American presence in the country made no sense anymore. We could be there for 20 more years and spend another trillion of dollars – with the same result.
Afghanistan is an ultimate failed state, and there is nothing we can do about it. Taliban is the choice of the Afghans. To be honest, Biden just fixed American profits and moved forward.
Afgan army collapsed in a blink of an eye having all kinds of advantages over Taliban. There was no resolve, they didn’t even try. It was well-known months ago, so what’s the big surprise.
Many people in DC advocated for withdrawal years ago, but no President before Biden was able to take this responsibility. He did. The game goes on, we will move forward.
Supporting Biden in this one. Should’ve been done long, long time ago.
Pro-Kremlin propaganda is going wild over Afghanistan, feeling that Soviet humiliation has been revenged now. As usual, too many emotion with no thinking behind it.
American system of contacts with Taliban is extremely broad. A year ago Mike Pompeo was meeting the current Taliban leader in Kabul. Mulla Baradar was released from prison in 2018 practically on the orders of Washington.
The decision to withdraw is unpopular with the US public too, but it is the right call. It is important to evacuate as many people as possible and leave Afghanistan.
Nobody should be stupid enough to think that the US withdrew just because it couldn’t conduct its operations in Afghanistan anymore. The decision releases enormous resources that will be used elsewhere.
By the way, Iran was offering its help to official Kabul till the very end, but Ghani rejected Iranian assistance. Washington is ok with Taliban there, but not Iran.
American system of contacts with Taliban is extremely broad. A year ago Mike Pompeo was meeting the current Taliban leader in Kabul. Mulla Baradar was released from prison in 2018 practically on the orders of Washington.
The decision to withdraw is unpopular with the US public too, but it is the right call. It is important to evacuate as many people as possible and leave Afghanistan.
Nobody should be stupid enough to think that the US withdrew just because it couldn’t conduct its operations in Afghanistan anymore. The decision releases enormous resources that will be used elsewhere.
By the way, Iran was offering its help to official Kabul till the very end, but Ghani rejected Iranian assistance. Washington is ok with Taliban there, but not Iran.
Michael Rubin, a brilliant scholar and expert on the region, advocates for punishing Pakistan in the aftermath of Afghan withdrawal. Cannot disagree with Rubin's take. Pakistan is already China's vassal, so there is not much to lose there. The cause looks perfect.
Have been surveying Russian telegram for meaningful takes on Afghanistan, and there are few. Overall, there is no need to elaborate on money spent by America. It is time to think about future Russian spending in Afghanistan and nearby CIS countries.
Have been surveying Russian telegram for meaningful takes on Afghanistan, and there are few. Overall, there is no need to elaborate on money spent by America. It is time to think about future Russian spending in Afghanistan and nearby CIS countries.
Russian government will provide the Institute of Internet Development with additional 7bln roubles to fund Kremlin’s ideological internet projects. Overall the institute will get 10bln roubles (about $136mln) this year.
There is little doubt that this money will just vanish without any meaningful results. Kremlin’s youth policy hasn’t ever been successful due to corruption and cultural differences between Russian youth and ruling oldmen with Soviet background.
The man in charge of this money and the projects it will be assigned for is Sergei Kirienko. No need to say that Kremlin will find million ways to spend money, but not give it to its people suffering from poverty.
There is no such thing as “taxpayers money” in Russia. It is absent from Russian political culture. Money belongs to the Czar, he is spending it the way he wants to. Nobody will hold him and his government accountable.
There is little doubt that this money will just vanish without any meaningful results. Kremlin’s youth policy hasn’t ever been successful due to corruption and cultural differences between Russian youth and ruling oldmen with Soviet background.
The man in charge of this money and the projects it will be assigned for is Sergei Kirienko. No need to say that Kremlin will find million ways to spend money, but not give it to its people suffering from poverty.
There is no such thing as “taxpayers money” in Russia. It is absent from Russian political culture. Money belongs to the Czar, he is spending it the way he wants to. Nobody will hold him and his government accountable.
When a couple of weeks ago Defense Minister Sergei Shoigu proposed to build 3-5 new big cities in Siberia, we didn’t even pay much attention to it because of the obvious nonsense of this idea. As we see now, Russian telegram and media keep on discussing Shoigu’s proposal as something strategic and at least slightly possible.
Stop it. Russia is always Russia, which means that 75% its territories -Urals, Siberia and Far East - are used for a sole purpose of extracting resources. Nobody will ever move the capital of Russia to Siberia, it has to be closer to Europe.
Being a billionaire and federal minister for almost 30 years, Shoigu will propose anything except for giving money to the people of Russia or rising their wages. The majority of Russians are poor, so let’s spend trillions on new cities and steal at least half of them in the process.
Russia doesn’t need new cities, invest in the existing ones. Russians don't need their money spent on new cities, they need higher living standards in the existing ones.
Stop it. Russia is always Russia, which means that 75% its territories -Urals, Siberia and Far East - are used for a sole purpose of extracting resources. Nobody will ever move the capital of Russia to Siberia, it has to be closer to Europe.
Being a billionaire and federal minister for almost 30 years, Shoigu will propose anything except for giving money to the people of Russia or rising their wages. The majority of Russians are poor, so let’s spend trillions on new cities and steal at least half of them in the process.
Russia doesn’t need new cities, invest in the existing ones. Russians don't need their money spent on new cities, they need higher living standards in the existing ones.
To be precise, Americans didn’t create Taliban. If any foreign country can be referred to as “Taliban Creator”, then it is Pakistan.
The reasons are well-known. Pakistani intelligence ISI was dealing with potential Pashto separatism after Bangladesh secession and made its best to replace Pashto nationalist sentiment in Afghanistan and Pakistan with Islamic movement.
You name one big, powerful country not responsible for millions of deaths. There is none.
To be even more precise, we are not leaving Afghanistan the way Soviets did. We won’t leave a single American there, Soviets left hundreds of their soldiers held captive by Afghans.
Thousands of Afghans have already been evacuated from Afghanistan. How many communists have Russia evacuated after its withdrawal? Zero. In 10 years of Afghan war Soviet Union has officially lost 15000 soldiers dead. In 20 years the US has lost 2354 military personnel dead.
It is the right call, and Biden’s ruined reputation is totally worth it. The region is not an American priority, and won’t be any time soon. It is the moment to move on.
https://publielectoral.lat/stratrus/6784
The reasons are well-known. Pakistani intelligence ISI was dealing with potential Pashto separatism after Bangladesh secession and made its best to replace Pashto nationalist sentiment in Afghanistan and Pakistan with Islamic movement.
You name one big, powerful country not responsible for millions of deaths. There is none.
To be even more precise, we are not leaving Afghanistan the way Soviets did. We won’t leave a single American there, Soviets left hundreds of their soldiers held captive by Afghans.
Thousands of Afghans have already been evacuated from Afghanistan. How many communists have Russia evacuated after its withdrawal? Zero. In 10 years of Afghan war Soviet Union has officially lost 15000 soldiers dead. In 20 years the US has lost 2354 military personnel dead.
It is the right call, and Biden’s ruined reputation is totally worth it. The region is not an American priority, and won’t be any time soon. It is the moment to move on.
https://publielectoral.lat/stratrus/6784
Telegram
StratRus
How can you lose to someone you have created yourself? America created the Taliban to fight the USSR. Now the Americans have conceived a new project that will bring death to the Middle East. Americans are responsible for millions of crippled lives. I hope…
Thanks for meaningful comments, Novyi Vek (New Century in Russian, for our American readers). The feedback is always important.
There are people in our team who have visited Afghanistan on various occasions and have contacts there. Hard times for them, of course.
Images from Kabul are heartbreaking, but the game is unfortunately bigger than that.
https://publielectoral.lat/Wek_ru/10560
There are people in our team who have visited Afghanistan on various occasions and have contacts there. Hard times for them, of course.
Images from Kabul are heartbreaking, but the game is unfortunately bigger than that.
https://publielectoral.lat/Wek_ru/10560
Telegram
Новый Век
И сегодня мы переводим коллег без комментария, лишь предварив текст словами о том, что его внимательное прочтение дает понять то, что американцы на самом деле хотели бы спрятать
Прокремлевская пропаганда сходит с ума по Афганистану, чувствуя, что советское…
Прокремлевская пропаганда сходит с ума по Афганистану, чувствуя, что советское…
Cannot agree with that, Stratrus. Russians tend to disrespect capabilities of smaller countries, but if any country has influence on the ground in Afghanistan, then it is Pakistan with its ISI.
The rise of islamism in Afghanistan started well before Soviet invasion and was supported by Pakistan against Pashto nationalism. You remember Daoud?
Of course, Taliban grew a lot stronger due to Soviet invasion, so you can say that Russia boosted it heavily. They were no longer just islamists, but hero fighters against foreign occupation. It helped them a lot.
Sure enough, the US used them against Soviets, which was absolutely the right thing to do. Although many people in Washington were very unhappy with giving mujahideen the anti-aircraft Stinger missiles.
We don’t see Brzezinski as a vicious strategist, like many Russians do due to his anti-Russian sentiments. The strategy in Afghanistan wasn't Brzezinski's.
https://publielectoral.lat/stratrus/6787
The rise of islamism in Afghanistan started well before Soviet invasion and was supported by Pakistan against Pashto nationalism. You remember Daoud?
Of course, Taliban grew a lot stronger due to Soviet invasion, so you can say that Russia boosted it heavily. They were no longer just islamists, but hero fighters against foreign occupation. It helped them a lot.
Sure enough, the US used them against Soviets, which was absolutely the right thing to do. Although many people in Washington were very unhappy with giving mujahideen the anti-aircraft Stinger missiles.
We don’t see Brzezinski as a vicious strategist, like many Russians do due to his anti-Russian sentiments. The strategy in Afghanistan wasn't Brzezinski's.
https://publielectoral.lat/stratrus/6787
Telegram
StratRus
In the big political game, Pakistan has always been a secondary state. This is not a country that could play its own game, much less act against the USSR. Colleague @russia_gate, what about the strategy of Zbigniew Brzezinski, who was Carter's security adviser?…
How Dzhumayev became Markhiyev
Said Dzhumayev, a 21-year old Chechen who engaged in a fight with cops during winter protests in Moscow, has been sentenced to 5 years of prison. There was only one interesting feature in Dzhumayev’s punishment: he changed his name to Mikail Markhiyev.
Our Russian colleagues surprisingly ignored this fact and didn’t explain it, although it says tons about their country.
Why did Dzhumayev change his name? People from North Caucasus don’t do that very often. Moreover, he not only changed his name, but nationality – Markhiyev is an Ingush last name of his mother.
According to our sources, he was forced to do so by Ramzan Kadyrov and his inner circle.
Kadyrov is the feudal owner of all Chechens in Russia. There is no Chechen who is out of his reach which is one of his services to Kremlin.
Dzhumayev proved matters to be not that unequivocal. He took part in an anti-Putin rally – unthinkable for a Chechen. Kadyrov predictably got furious because this fact alone shattered his image.
Taking into consideration Putin’s sensitivity to protests, Kadyrov got a bit nervous. He denounced Dzhumayev from the very start, saying he was not a real Chechen and wasn’t brought up as one.
Kadyrov's message is "it's not my fault and responsibility, the boy is Ingush". No Dzhumayev - no problem.
Said Dzhumayev, a 21-year old Chechen who engaged in a fight with cops during winter protests in Moscow, has been sentenced to 5 years of prison. There was only one interesting feature in Dzhumayev’s punishment: he changed his name to Mikail Markhiyev.
Our Russian colleagues surprisingly ignored this fact and didn’t explain it, although it says tons about their country.
Why did Dzhumayev change his name? People from North Caucasus don’t do that very often. Moreover, he not only changed his name, but nationality – Markhiyev is an Ingush last name of his mother.
According to our sources, he was forced to do so by Ramzan Kadyrov and his inner circle.
Kadyrov is the feudal owner of all Chechens in Russia. There is no Chechen who is out of his reach which is one of his services to Kremlin.
Dzhumayev proved matters to be not that unequivocal. He took part in an anti-Putin rally – unthinkable for a Chechen. Kadyrov predictably got furious because this fact alone shattered his image.
Taking into consideration Putin’s sensitivity to protests, Kadyrov got a bit nervous. He denounced Dzhumayev from the very start, saying he was not a real Chechen and wasn’t brought up as one.
Kadyrov's message is "it's not my fault and responsibility, the boy is Ingush". No Dzhumayev - no problem.
There is one thing people in Russia or elsewhere often fail to understand: failures of the West are not necessarily their victories. Afghan case will show it the best way possible, although we do not consider it a failure of the US.
The most possible scenario for the country is a lasting civil war. Taliban took over fast, but it will be much more difficult to maintain the position, even with Pakistani and Chinese help.
Britain started to gamble right away in Panjsher.
Ahmad Massoud is not only the son of a fallen hero, but also a graduate of King’s College and City University, who spent time in Sandhurst. His uncle was Afghanistan’s envoy in London, their family’s Massoud Foundation is also based in London.
Massoud family controls lithium and emerald deposits in resource-rich Afghanistan. Saleh and Massoud already took over Charikar and, therefore, control now the only strategic road with Salang tunnel which connects Kabul with Northern Afghanistan.
Another Afghan tragedy is unfolding in front of our eyes. Mark our words - the fact of visual humiliation of the US will make it even worse for everyone.
The most possible scenario for the country is a lasting civil war. Taliban took over fast, but it will be much more difficult to maintain the position, even with Pakistani and Chinese help.
Britain started to gamble right away in Panjsher.
Ahmad Massoud is not only the son of a fallen hero, but also a graduate of King’s College and City University, who spent time in Sandhurst. His uncle was Afghanistan’s envoy in London, their family’s Massoud Foundation is also based in London.
Massoud family controls lithium and emerald deposits in resource-rich Afghanistan. Saleh and Massoud already took over Charikar and, therefore, control now the only strategic road with Salang tunnel which connects Kabul with Northern Afghanistan.
Another Afghan tragedy is unfolding in front of our eyes. Mark our words - the fact of visual humiliation of the US will make it even worse for everyone.
Russian Vaccination Crisis
Regional Healthcare Ministries in Russia have received letters from Gamaleya Institute, the producer of Sputnik V vaccine, with recommendations on the usage of Sputnik Light vaccine.
The document has two columns. First one is with old recommendations, second is with updates.
The biggest update (written in bold, page 3) is that Sputnik Light is not safe for people older than 60.
Regional Healthcare Ministries in Russia have received letters from Gamaleya Institute, the producer of Sputnik V vaccine, with recommendations on the usage of Sputnik Light vaccine.
The document has two columns. First one is with old recommendations, second is with updates.
The biggest update (written in bold, page 3) is that Sputnik Light is not safe for people older than 60.
The International Monetary Fund will grant Russia a $17bln as part of its $650bln Special Drawing Rights (SDRs) giveaway to help poorer countries recover from the COVID crisis more quickly.
Russia doesn’t need to convert these SDRs though. The country has significant international reserves and doesn’t need any cash. There is a fresh proof of this statement.
Vladimir Putin has called yesterday for one-off cash payments to be awarded to Russia’s pensioners ($135 each) and military service personnel ($200). These two categories represent about 40% of people eligible to vote in the coming Duma election.
So, Putin can spend about $7bln in one pre-election move. Not during Covid, when Russians needed support and many called for it, but now, one month prior to the elections in order to buy some votes. There are no usual worries about the inflation, Nabiullina is keeping silence.
Russians are indeed very poor because of practical social Darwinism of its elites, but Russia as a country certainly isn’t. Money isn't the problem, greed of the elites is.
Russia doesn’t need to convert these SDRs though. The country has significant international reserves and doesn’t need any cash. There is a fresh proof of this statement.
Vladimir Putin has called yesterday for one-off cash payments to be awarded to Russia’s pensioners ($135 each) and military service personnel ($200). These two categories represent about 40% of people eligible to vote in the coming Duma election.
So, Putin can spend about $7bln in one pre-election move. Not during Covid, when Russians needed support and many called for it, but now, one month prior to the elections in order to buy some votes. There are no usual worries about the inflation, Nabiullina is keeping silence.
Russians are indeed very poor because of practical social Darwinism of its elites, but Russia as a country certainly isn’t. Money isn't the problem, greed of the elites is.