Quote from: shield132 on July 19, 2024, 12:19:21 PM

Quote from: Ozero on July 17, 2024, 02:09:40 AM

Will cryptocurrency save the Russian economy from the impending steep dive into which it plunged itself with the attack on Ukraine? The answer will be very soon.

Mate, two years have passed, do you expect an answer soon? The answer is here, sanctions didn't affect Russia the way everyone was expecting because Russia can buy goods from neighbours like Turkey, Georgia, Armenia and etc... Buying process became slightly difficult for Russia and slightly expensive because of 3rd party countries, otherwise, there aren't devastating situation because of that ban.

The sanctions did not work completely as planned, but they still slowly continue to work and bring their destructive effect to the Russian economy. Due to its enormous economic potential, Russia has a large margin of safety, but it is not unlimited. In addition, there is not enough unity in the world regarding the application of sanctions and Russia takes advantage of this. The main thing is that it can still sell its oil and gas, which brings it 60 percent of its total profits. But Putin’s Russia is already approaching the point beyond which its economy will begin to plummet.

The fact that Russia is trying to use cryptocurrency in international trade is clear evidence that it has serious problems in its financial sector, and no one needs its ruble. Russia has almost used up its main financial reserve - the National Welfare Fund, which has become the main reserve for financing the war in Ukraine. Of course, money and soldiers in Russia will not run out quickly, but armored vehicles and shells are running out, and the number of aircraft, ships and other expensive equipment is decreasing. North Korea has already handed over to Russia its five million half-defective shells, but it also has limited supply.