The Russian economy (catch all)

[Stan]

Rossija today made the announcement that recommended none of their clients should make or withdraw any foreign currency--think now they fully understand that the US banks will chase the money via the money trail.

Interfax: 12:44 Bank Rossiya asking clients to refrain from making foreign currency payments

Outlaw,

Imagine who would want all those Rubles

Furthermore, according to this Reuters article:

Kovalchuk said in a television interview on Sunday the sanctions had backfired by helping him win new clients among patriotic Russians. Russian President Vladimir Putin said last week that he would open an account at the bank.

@stan: I have no doubt that in Vladiromics great scheme the ratings of railway bonds count not that much. Still economic turmoil in Russia will get his attention.

Also, with all due respect to the Estonian port, it's economic impact pales with the numbers currently at stake.

Firn,
Russia has been buying up Europe and Africa for years. I've been here for 20 years and in Africa for 12 years.

We are not talking big money. But very big money. None other than Putin’s Central Bank has estimated that two thirds of the $56 billion exiting Russia in 2012 might be traceable to illegal activities. Crimes like kickbacks, drug money or tax fraud. This is the money that posh English bankers are rolling out the red carpet for in London.

Estonia is but a minuscule means of showing what Vova can do to tiny little countries that get in the way. But, chocking off these so-called countries is a mess for their economic development and an even bigger mess for the EU when it comes to supporting them.

Regards, Stan