No one wants to trade in the ruble and it is worthless outside Russia.

http://www.youtube.com/watch?v=Cr_ipI37oVs&ab_channel=JoeBlogs

India, China, and most countries trading with Russia will not accept rubles, and the ruble's value against other currencies is largely fictitious. People are beginning to have bank accounts in Russia in yuan as rubles are useless.

They will probably work around it. Russia's growth rate, despite sanctions, has risen. Say what you like about Russians, they are resilient.

The Russians still have plenty to barter with for weapons. Their credit is still good in India, China, Iran, North Korea etc. Very neighbourly of them to help out a friend with the unprovoked invasion of a democratic nation.

Hi Shadow Minister,

I keep hoping that the Russian people will eventually
revolt against Putin's regime. But look at what's
happening with the Presidential elections in the US.
Perhaps the Russian people will overcome their fears
when their economy goes down the gurgler.

ttbn,

Russia's GDP is growing, but the economy is in dire straits for several reasons:

1 Expenditure vastly outpaces income by about US$5bn per month meaning that growth is financed out of reserves which are running out.
2 About 40% of expenditure is spent on the war leaving little for health, education, welfare or infrastructure maintenance.
3 The huge war expenditure is paying military salaries and compensation for dead soldiers and producing weapons that will be destroyed in Ukraine and do nothing for the future of the country like roads or bridges would.
4 The Ruble is crashing.

Remember that Russia's economy is only slightly larger than Aus's

SM

You are clearly more interested in Russia than I am, and I accept what you say.

But, your second point is the sticker. Russia spends 6.5% of GDP on its military, whereas Australia, with a similar sized economy, spends barely 2%. I don't think that it has actually reached 2% yet, despite all the politicians’ promises.

Now, I don't think there is any Russia-Australia problem, apart from the outbreak of another world war, but Russia takes its fighting/military capability far more seriously than the West does. And, remember who their allies are. Even our pal, India, won't say boo about Russia.

FESTER makes the point on that situation