293
submitted 5 days ago by MicroWave@lemmy.world to c/world@lemmy.world

Summary

Russia’s stock market lost $23.7 billion in two days after Trump’s new global tariffs and a steep oil price drop, marking its worst week since 2022.

The MOEX Russia Index fell 8.05%, with major firms like Sberbank, Gazprom, and Rosneft plunging. Brent crude dropped 12%, and copper fell 11%, stoking global recession fears.

Russia, heavily reliant on commodity exports, faces budget strain and potential ruble devaluation.

Peace talks over Ukraine remain stalled as the U.S. signals impatience, and NATO sees no shift in Russia’s war objectives.

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[-] UnderpantsWeevil@lemmy.world 57 points 5 days ago* (last edited 5 days ago)

The entire global trade system is in free fall.

It's so crazy to blink past tanking indexes in Tokyo, Frankfurt, and Dubai while pumping a fist and announcing "Fuck yeah! We got Russia!"

If anyone should be extremely worried right now, you'd think it would be the Saudis. Not one of the most sanctioned countries on earth.

[-] homesweethomeMrL@lemmy.world 24 points 4 days ago

I just want to say MAGA voters - good job

[-] Treczoks@lemmy.world 19 points 4 days ago

The most dangerous aspect for the Russian economy is probably the low oil price. They are operating with minimal profits at normal times, and low prices like now they have to put money into the business instead of getting profits out of it.

$23.7 billion is nothing, are these guys a third world country or something?

[-] in4apenny@lemmy.dbzer0.com 17 points 4 days ago

Really puts the £36 TRILLION that's sitting liquid in offshore tax havens into perspective. $23.7 billion isn't even 1% of that.

[-] yeahiknow3@lemmings.world 12 points 4 days ago* (last edited 4 days ago)

It would be so easy to tackle the offshoring of US tax funds.

  1. Implement better tax laws.
  2. Billionaires attempt to leave the country with their ill-gotten booty.
  3. Send Seal Team Six after them like Bin Laden. Drop bombs if you have to. The word “billionaire” should be synonymous with “terrorist.”
  4. Problem solved.

The fun part is we can’t even fuck up our image on the world stage because Trump already did that.

[-] kreskin@lemmy.world 3 points 4 days ago

yeah what a bunch of hacks. The US can out third-world country them any day of the week.

[-] venusaur@lemmy.world 5 points 4 days ago

I wonder how much of what happened after Brexit can be applied here

[-] vxx@lemmy.world 5 points 4 days ago* (last edited 4 days ago)

Nothing, other than regret for it's supporters

[-] venusaur@lemmy.world 5 points 4 days ago

That’s something tho. Definitely a big shift in political opinion in their 2024 election. You don’t think we can expect to see other similarities? Devaluation of our currency. Prices of common goods increased. Wages outpaced inflation decently.

[-] huppakee@lemm.ee 5 points 5 days ago

The world gets poorer > oil and other raw materials become cheaper > Russia earns less money > Russia also gets poorer.

this post was submitted on 05 Apr 2025
293 points (100.0% liked)

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