Russia's pivot away from US dollar is not going according to plan
www.newsweek.com
Billions of dollars of Russia's oil sale profits are stuck in India, as Russia looks to move away from the world's dominant reserve currency.

Billions in Russian oil sale profits are stuck in Indian banks, marking a blow to President Vladimir Putin’s attempts to stop using the U.S. dollar for trade.

Commodities such as oil, gold and wheat are typically traded around the globe in U.S. dollars, the world’s reserve currency.

However Russia’s financial system was essentially isolated by Western sanctions imposed after Putin’s invasion of Ukraine, making his country unable to make transactions in greenbacks, thus limiting trade.

  • BlurstyEnglish
    211·
    10 months ago

    You can read in more detail about that infinitesimal advance here.

    Ukraine’s military said on Monday that its forces had retaken the southern village of Robotyne, a tactical victory that underlines the immense challenge Kyiv’s counteroffensive faces in punching through deep and dense Russian defenses.

    The Ukrainian counteroffensive that began in early June has advanced only a few miles southward to reach Robotyne, in intense fighting with heavy casualties and equipment losses, and a similar distance on another axis to the east. The ultimate target of the thrust to Robotyne is the city of Melitopol, about 45 miles farther south, and more layers of Russian defenses lie in the way.

    This is the topographic map. They’ve walked into the lowest lying aread surrounded on all sides by higher ground.

    This is what they got for months of throwing tens of thousands of lives into the meat grinder for burgerland. Bravo!

    • BombOmOm@lemmy.worldEnglish
      72·
      10 months ago

      Your map also agrees the first defensive line has been breached. Will you recant your statement that such a claim is propaganda?

      • BlurstyEnglish
        27·
        10 months ago

        No, it’s propaganda to maintain that this is meaningful or significant.