Russia Watch Thread

[caltrek]

JP Morgan, Goldman Sachs Make Russia Exit
by Tom Burroughes
March 14, 2022

https://www.wealthbriefing.com/html/art ... ?id=193956

Introduction:

(Wealth Briefing) Goldman Sachs and JP Morgan are pulling out of Russia following the invasion of Ukraine.

“Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements. We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market and ensuring the wellbeing of our people,” the US-listed group told this news service in a statement.

Goldman Sachs has a credit exposure to Russia of $650 million. Any losses would be "immaterial," according to a source familiar with the situation, Reuters reported.

A spokesperson for JP Morgan told FWR: "In compliance with directives by governments around the world, we have been actively unwinding Russian business and have not been pursuing any new business in Russia. Current activities are limited, including helping global clients address and close out pre-existing obligations; managing their Russia-related risk; acting as a custodian to our clients; and taking care of our employees."

The firm previously announced its commitment of up to $5 million to support humanitarian relief efforts including an employee contribution match. "Our commitment will support organisations to provide emergency food, housing and medical services to those in need," the bank added.

[weatheriscool]

Putin's invasion of Ukraine will knock the Russian economy back by 30 years
https://www.cnbc.com/2022/03/14/putins- ... years.html

WASHINGTON — Vladimir Putin’s unprovoked war on Ukraine and the resulting global response will set Russia’s economy back by at least 30 years — close to old Soviet Union times — and lower its standard of living for at least the next five years, according to economists, investors and diplomats.

The sweeping Western sanctions are designed to inflict maximum pain on Russia’s economy by expelling it from global markets and freezing assets around the world. From the moment they took effect three weeks ago, the sanctions have opened a new chapter in the country’s economic history.

Russia’s financial system and currency are collapsing on multiple fronts, forcing the Kremlin to close the stock market and artificially prop up the ruble inside its borders.

Practically overnight, the country’s 40-year effort to build a prosperous market-based economy that began under former leader Mikhail Gorbachev has failed, one more casualty in President Putin’s brutal invasion of Ukraine.

[caltrek]

In its Quest to Censor War Reporting, the Russian Government has Dismantled all Semblance of Press Freedom
by Trevor Timm
March 15, 2022

https://freedom.press/news/in-its-quest ... s-freedom/

Introduction:

(Freedom of the Press Foundation) Russia has long been a dangerous place for independent journalists. But in the past week, President Vladimir Putin’s government has swiftly stamped out any remaining semblance of press freedom, in an attempt to prevent its populace from learning the truth about its brutal invasion of Ukraine.

Almost immediately after tanks started rolling across the Ukrainian border, Russian government authorities reportedly started issuing ominous edicts to newspapers to stop using certain words and phrases in their reporting. Nobel Peace Prize winner Dmitry Muratov, who runs the Russian newspaper Novaya Gazeta, told The New Yorker on Feb. 28, “We received an order to ban the use of the words ‘war,’ ‘occupation,’ ‘invasion.’” He continued, “However, we continue to call war war. We are waiting for the consequences.” Many other publications received similar messages.

Putin quickly made these authoritarian “warnings” official policy. As the Washington Post reported, the Russian Parliament passed a new law “banning what it considers ‘fake’ news about the military, including any rhetoric that calls the invasion of Ukraine an “invasion” — the preferred language is “special military operation” — with a potential 15-year prison sentence.”

According to the Committee to Protect Journalists, only four days after the invasion began, five journalists were already facing charges “and dozens more were detained across Russia following their coverage of anti-war protests.” An independent newspaper, which put anti-war messages (rough translation: “the madness must be stopped!”) on its front page, found its offices raided by government authorities.

On March 1, two television networks which aired criticism of the invasion were reportedly taken off the air. By March 3, journalists from Dozhd, what CNN described as “the last remaining independent news network in Russia” fled the country over fears of their own safety. "After the blocking of Dozhd's website, Dozhd's social media accounts, and the threat against some employees, it is obvious that the personal safety of some of us is at risk," said Dozhd’s chief.

caltrek's comment: I feel for Phoenix Ru. For all of his skepticism concerning the "Western Press", I wonder how comfortable he feels with this development.

[wjfox]

Fearing Poisoning, Vladimir Putin Replaces 1,000 of His Personal Staff

First Published: 3:07 PM PDT, March 16, 2022

Vladimir Putin appeared on Russian state TV today to denounce Russians who opposed his war with Ukraine as “scum” and “traitors.”

But behind the scenes, the dictator is increasingly paranoid and fears that someone in his inner circle will poison him, a new report says.

Daily Beast contributing editor Craig Copetas says he’s been told that Putin has people tasting his food before he eats it and that last month, he replaced his entire personal staff of 1,000 people.

“Laundresses, secretaries, cooks — to a whole new group of people. The assessment from the intelligence community is that he's scared,” Copetas said.

Copetas says that the preferred method of assassination in Russia is poison.

https://www.insideedition.com/fearing-p ... taff-73847

[funkervogt]

Here's the full speech that Putin gave yesterday (March 16).

[raklian]

Fearing Poisoning, Vladimir Putin Replaces 1,000 of His Personal Staff

I suppose he is now cooking meals for himself.

[funkervogt]

Fearing Poisoning, Vladimir Putin Replaces 1,000 of His Personal Staff

I suppose he is now cooking meals for himself.

"More ramen noodles, anyone?"

[wjfox]

Or a nice cup of polonium tea.

[wjfox]

[wjfox]