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Now it appears the only Russian bank left operating in the EU is, predictably, Gazprombank which as the name suggests is owned by Gazprom, the Russian corporati

Now it appears the only Russian bank left operating in the EU is, predictably, Gazprombank which as the name suggests is owned by Gazprom, the Russian corporation the EU purchases energy supplies from. With Sberbank abandoning activities in the EU, now I believe there's no more room for maneuver for further similar sanctions. In theory they could block Gazprombank too, although it is an extreme measure that would result in immediate retaliation from the Russian govt (which controls Gazprom) in the form of no more or further overpriced supplies. Here are some numbers just to give an idea of how much this situation affects our heating/energy bills here in the EU: https://tradingeconomics.com/commodity/eu-natural-gas https://tradingeconomics.com/commodity/eu-natural-gas Then there's wheat (read: food), of which Ukraine is one of the biggest producers and top exporters to the EU: https://tradingeconomics.com/commodity/wheat https://tradingeconomics.com/commodity/wheat

mint2 5y ago
> Then there's wheat (read: food), of which Ukraine is one of the biggest producers and top exporters to the EU I guess the farms aren’t in cities but is it realistic that Ukraine will be in any shape to export much wheat this year at this point.
- bombcar 5y ago
  The ground hasn't even thawed yet - there's still time for the battle lines to solidify and the farmers to go on farming and planting. Had this happened during harvest time likely large amounts of wheat would have been lost.
kibwen 5y ago
Looking beyond the EU: "China leapfrogged Russia to become Ukraine's biggest single trading partner in 2019, with overall trade totalling $18.98 billion last year, a nearly 80% jump from 2013, according to data from the State Statistics Service of Ukraine. [...] China became the largest importer of Ukrainian barley in the 2020-21 marketing year. About 30% of China's corn imports last year, more than 8 million tonnes, came from Ukraine, Chinese customs data showed." https://www.reuters.com/business/autos-transportation/chinas-business-economic-interests-ukraine-2022-02-23/ https://www.reuters.com/business/autos-transportation/chinas... If the war starts impacting the price of staples in China, that's going to strain Russia's relations with its only significant remaining ally.

mint2 5y ago

> Then there's wheat (read: food), of which Ukraine is one of the biggest producers and top exporters to the EU I guess the farms aren’t in cities but is it realistic that Ukraine will be in any shape to export much wheat this year at this point.

bombcar 5y ago
The ground hasn't even thawed yet - there's still time for the battle lines to solidify and the farmers to go on farming and planting. Had this happened during harvest time likely large amounts of wheat would have been lost.

kibwen 5y ago

Looking beyond the EU: "China leapfrogged Russia to become Ukraine's biggest single trading partner in 2019, with overall trade totalling $18.98 billion last year, a nearly 80% jump from 2013, according to data from the State Statistics Service of Ukraine. [...] China became the largest importer of Ukrainian barley in the 2020-21 marketing year. About 30% of China's corn imports last year, more than 8 million tonnes, came from Ukraine, Chinese customs data showed." https://www.reuters.com/business/autos-transportation/chinas-business-economic-interests-ukraine-2022-02-23/ https://www.reuters.com/business/autos-transportation/chinas... If the war starts impacting the price of staples in China, that's going to strain Russia's relations with its only significant remaining ally.