Sanctions and Support

[John Thomas8]

Russia proposes nationalising foreign-owned factories that shut operations

https://www.reuters.com/business/russia ... 022-03-08/

"United Russia proposes nationalising production plants of the companies that announce their exit and the closure of production in Russia during the special operation in Ukraine," Turchak said.

"This is an extreme measure, but we will not tolerate being stabbed in the back, and we will protect our people. This is a real war, not against Russia as a whole, but against our citizens," he said.

[johnpcapitalist]

Russia proposes nationalising foreign-owned factories that shut operations

https://www.reuters.com/business/russia ... 022-03-08/

"United Russia proposes nationalising production plants of the companies that announce their exit and the closure of production in Russia during the special operation in Ukraine," Turchak said.

"This is an extreme measure, but we will not tolerate being stabbed in the back, and we will protect our people. This is a real war, not against Russia as a whole, but against our citizens," he said.

This is obvious posturing and it's likely to backfire if implemented. Given the small size of the Russian economy relative to the EU, having to absorb losses from nationalized investments there is not going to break too many companies.

And those potentially nationalized enterprises like Ford are still dependent on parts from the West. So they won't be able to restart operations since they won't have critical parts needed to build products. As a certain one-armed transmission mechanic from Argillite, Kentucky would undoubtedly opine, you can't just gin up alternate sources of supply for high-end parts with the needed quality any time soon. When you add in the fact that control of these nationalized companies will be given to Putin's cronies, who will immediately start to loot the operation for anything they can, they'll go off a cliff pretty quickly.

The obvious response is for Europe to propose legislation that will prevent lifting of sanctions until Russia repays the businesses affected for the cost of capital equipment seized plus lost profits plus interest from those ventures. In other words, nationalizing companies will make sanctions permanent, even if Russia exits Ukraine tomorrow.

[Slim Cognito]

McDonald's to temporarily close 850 stores in Russia

About time somebody finally declared a no fry zone.

I enjoyed discovering this pun as I was trying to ketchup on all the Ukraine news.

Last night, Colbert stole Estiveo's joke.

[Tiredretiredlawyer]

You guys are real punny.

[Kriselda Gray]

The Board of FIFe feels it cannot just witness these atrocities and do nothing, so it decided that as of 01.03.2022:
● No cat bred in Russia may be imported and registered in any FIFe pedigree book outside Russia, regardless of, which organization issued its pedigree.
● No cat belonging to exhibitors living in Russia may be entered at any FIFe show outside Russia, regardless of, which organization these exhibitors hold their membership in.
These restrictions are valid until 31.05.2022 and will be reviewed as and when necessary.

http://www1.fifeweb.org/wp/news/

I just hope that this doesn't result in any harm to cats whose breeders may now consider them valueless if they can't sell or show them...

[W. Kevin Vicklund]

It took me a while to comment, but I finally mustard up the courage.

[Kriselda Gray]

https://www.abc.net.au/news/2022-03-08/ ... /100890438

Russian gymnast Ivan Kuliak wears pro-war Z symbol on podium, standing next to Ukrainian competitor

Kuliak taped the Z symbol — seen on Russian tanks and military vehicles in Ukraine and embraced by supporters of the war — to his vest for a medal ceremony at a World Cup event on Saturday in Doha, Qatar.

He took bronze in parallel bars and stood next to a gold medallist from Ukraine.

"Z" is the new "L" for loser!

I had thought the "Z" was something being used by Ukrainians to show support for Zelenskyy. Whoops! Anyone know why the Russians are using a "Z"?

[MN-Skeptic]

I had thought the "Z" was something being used by Ukrainians to show support for Zelenskyy. Whoops! Anyone know why the Russians are using a "Z"?

It's easier to draw than taking the time to make a full swastika?

[Foggy]

Ukraine war: Why has 'Z' become a Russian pro-war symbol?

[Kriselda Gray]

I had thought the "Z" was something being used by Ukrainians to show support for Zelenskyy. Whoops! Anyone know why the Russians are using a "Z"?

It's easier to draw than taking the time to make a full swastika?

[Kriselda Gray]

Thanks, Foggy!

[neonzx]

Last night, Colbert stole Estiveo's joke.

That's was a really great monologue...

[p0rtia]

Ukraine war: Why has 'Z' become a Russian pro-war symbol?

Duh. Because Q was taken.

[MN-Skeptic]

Can Zorro sue Russia?

[Jim]

I had thought the "Z" was something being used by Ukrainians to show support for Zelenskyy. Whoops! Anyone know why the Russians are using a "Z"?

To show they're ready to collect their bounty from Z for surrendering? Probably more than they're being paid to die for Putin.

[Maybenaut]

And how cool that they’ll keep paying their employees. Not sure how long they can keep that up, though.

I disagree. I don’t think they should pay them. This seems more like a reward than a sanction, and the people who are going to suffer the most are the McDonalds’ shareholders outside of Russia. Same with Starbucks and all the other US-based companies doing business in Russia that are closing stores but continuing to pay their employees there.

I get the humanitarian aspect of it, and if they really want to follow that sentiment, there are other things they can do instead of paying people to not work. They could keep the stores open, and use the profits in an exceptionally public way for the benefit of Ukraine, for example.

I’m no economist, but this just doesn’t feel right to me.

[Maybenaut]

I had thought the "Z" was something being used by Ukrainians to show support for Zelenskyy. Whoops! Anyone know why the Russians are using a "Z"?

To show they're ready to collect their bounty from Z for surrendering? Probably more than they're being paid to die for Putin.

I read somewhere the other day (can’t recall where), that it is the first letter of the Russian phrase “зa победа” [pronounced za pobeda], which translates to “for victory” or “for the victory.”

[tek]

And how cool that they’ll keep paying their employees. Not sure how long they can keep that up, though.

I disagree. I don’t think they should pay them. This seems more like a reward than a sanction, and the people who are going to suffer the most are the McDonalds’ shareholders outside of Russia. Same with Starbucks and all the other US-based companies doing business in Russia that are closing stores but continuing to pay their employees there.

The sanctions are not against the general populace of Russia. And given the exchange rate, paying them is essentially free in non-Russian currency.

How long Putin will let western companies keep paying their employees is an interesting question though.

[humblescribe]

Russia proposes nationalising foreign-owned factories that shut operations

https://www.reuters.com/business/russia ... 022-03-08/

"United Russia proposes nationalising production plants of the companies that announce their exit and the closure of production in Russia during the special operation in Ukraine," Turchak said.

"This is an extreme measure, but we will not tolerate being stabbed in the back, and we will protect our people. This is a real war, not against Russia as a whole, but against our citizens," he said.

This is obvious posturing and it's likely to backfire if implemented. Given the small size of the Russian economy relative to the EU, having to absorb losses from nationalized investments there is not going to break too many companies.

And those potentially nationalized enterprises like Ford are still dependent on parts from the West. So they won't be able to restart operations since they won't have critical parts needed to build products. As a certain one-armed transmission mechanic from Argillite, Kentucky would undoubtedly opine, you can't just gin up alternate sources of supply for high-end parts with the needed quality any time soon. When you add in the fact that control of these nationalized companies will be given to Putin's cronies, who will immediately start to loot the operation for anything they can, they'll go off a cliff pretty quickly.

The obvious response is for Europe to propose legislation that will prevent lifting of sanctions until Russia repays the businesses affected for the cost of capital equipment seized plus lost profits plus interest from those ventures. In other words, nationalizing companies will make sanctions permanent, even if Russia exits Ukraine tomorrow.

JPC makes some valid points. The number of western corporations with a substantial presence in Russia is large. Financial controls and safeguards are likely (just a SWAG here) to the point where more capital finds itself into the businesses rather than into the pockets of the oligarchs. Unlike 100% Russian-owned businesses where there is skimming and corruption.

In addition, Russia (again a SWAG) does not have far-reaching innovative knowledge that comes from their institutes of higher education or from spending on R&D in the private sector. Companies are loath to invest in technology as long as they can find parts for their fleets of Yugos or can machine them on the cheap. Eventually the supply chain will break down to the point where plants and factories cannot produce decent quantities of viable finished goods.

I think these sanctions should they continue will be death by a thousand cuts for the good people of Russia. Not sure what effects they will have on the 1%.

[Dave from down under]

There have been a few Russia Revolutions

The sanctions may cause another

Which scares the 1%

[AndyinPA]

https://www.occrp.org/en/daily/16063-ru ... -sanctions

Russia Absconds with $10bn in Aircraft in Response to EU Sanctions

Like a deadbeat who hides his car when the repo man comes calling, Russian airlines appear to have absconded with more than US$10 billion worth of rented airplanes rather than let them be repossessed.

Aeroflot PlaneAfter the newest wave of EU sanctions banned not only the sale of aircraft and parts to Russian companies but also access over EU airspace for Russian planes, the country’s airlines responded by absconding with more than 500 planes valued at over $10 billion before they could be repossessed by their lessors. (Photo: Marat Gizatulin, Flickr, License)After the newest wave of EU sanctions banned not only the sale of aircraft and parts to Russian companies but also access over EU airspace for Russian planes, the country’s airlines responded by absconding with more than 500 planes valued at over $10 billion before they could be repossessed by their lessors, Bloomberg reported on Tuesday.

Cut off from international markets, supply lines, and aviation insurance providers, Russia’s wings are essentially clipped, which may be why its airlines resorted to withholding more than 500 planes leased to them by foreign firms in order to mitigate their losses.

The news comes after Russia’s aviation regulator recommended on March 5 that all Russian airlines with planes leased from foreign carriers, and not registered in Russia, avoid flying overseas where the aircraft risked being detained upon arrival, according to TASS.

And so Aeroflot, Russia’s flag carrier, as well as the country’s other airlines, halted their international flights after ensuring that their leased aircraft were safely back and tucked away in Russian hangars.

[raison de arizona]

Hope they like flying domestically with their stolen planes.

[Uninformed]

So clever of them to think of a way to avoid repossession that won’t have any repercussions at all.

[MN-Skeptic]

I noticed a headline, but didn't read the article, about pharmaceutical companies not participating in the sanctions. Because of humanitarian reasons, I would be ok with that. We want Russia to hurt. We don't want to kill the vulnerable.

[Slim Cognito]

agreed.