The Duran Podcast Russian economy and Gazprombank
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Dec 2, 2024 Delve into the intriguing resilience of the Russian ruble despite recent challenges like corporate loan repayments and sanctions. Explore the surprising geopolitical effects of rejected dollar purchases by the Russian Central Bank and how they may inadvertently strengthen the economy. The podcast also discusses the implications of Gazprom Bank's exclusion from SWIFT, shaping a shift in global trade dynamics, especially towards Asia, and the broader impact of US policies on European nations and their energy markets.
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Ruble Weakness
- The Russian ruble has weakened against the dollar, causing concern about the Russian economy.
- This is a recurring event at the end of the year, due to various factors.
Dollar Strength
- The dollar's strength is partially due to European funds flowing into the US because of economic and political uncertainty in Europe.
- Germany's potential removal of its debt break is worrying investors.
Seasonal Ruble Fluctuations
- The ruble typically weakens in late autumn and early winter due to increased holiday spending and corporate loan repayments.
- These factors increase imports and necessitate the conversion of rubles into foreign currencies.