@earthling1

counter sanctions with sanctions.
You want money?
Take it from the thieves.
Give the global money masters a
sphincter squeeze.

#6
that Russia is going to issue bonds using the seized 300 billion dollars as collateral for claims against Russian companies filed by unfriendly foreign companies and governments.
If they want their money, they will have to lobby their own government to release the stolen funds.
I think I read about in that meeting Putin had with all the opposition party heads. It came from one of the party heads and Putin thought it was a good idea.

@soryang

China is selling cars in Russia now at an unprecedented rate.
And Russia is building cars in Africa. The capitalist axel is losing
it's wheels in EU and US due to their short sighted sanctions.

The ramifications of economics has made the former power
brokers wobble just a bit. Guess that is why they are scared of
BRICS. Their non-compete clause is stifling growth.

#6 I hadn't heard about this. Frankly, I don't read the Korean economic news unless it gets into the headlines there. This one did, but I missed it. So they have to two years to "buy it back." Good luck. I guess some of the European auto-makers are in the same boat. It would be interesting to know the exact date Hyundai made the decision to shut down in Russia. March 2022 was the presidential election month.

The Korean current accounts balances have been on a rocky path since the covid. At the point where the various international shutdowns were lifted a recovery was expected. So there was an export slump before Yoon got elected. Early on, Yoon blamed the economic slump generally on Moon Jae-in policies, but by January 2023, the current accounts monthly balance was still in the dumpster, in fact record breaking, for a country that depends heavily on exports. So sometime around there (I'm a poor historian on this for various reasons) Yoon could no longer avoid taking the blame, and his poll numbers started taking a dive. That wasn't the only reason, but opposition critics made the case that Yoon had unnecessarily alienated its Chinese and Russian markets by following US demands adversely affecting business with these countries. It is believed that this is a large factor in the inability to recover economically. I've seen reports that characterize the economy as in a recession and Yoon is blamed.

Maybe this is the reason, Yoon takes the big chaebol leaders of Samsung, Hyundai, SK and Hwanhua (defense manufacturer) with him when he goes on his overseas junkets. He knows nothing about economics or foreign policy. He takes credit for deals that have been in the works independently by the industries themselves as he did recently in the Netherlands for a venture with ASML. As I understand it, it was the same with the arms deal with Poland to build a tank factory there, and sell them tanks upfront. He's taken a lot of criticism on this score. Generally, you don't hear a lot about this in the MSM there or here.

Hyundai Motor offloads Russian plant for grand sum of 100 bucks

Hyundai Motor said the selling price for the factory would be 10,000 rubles, or around US$107. Based on the factory’s accounting situation, the value of the company’s stake is 287.34 billion won, but Hyundai Motor concluded that it had suffered a loss of 1.13 trillion won in light of the two years the factory has been unable to operate because of the war.

The facilities that are to be sold off include the Saint Petersburg factory, which was built in 2010, and a General Motors factory acquired in 2020. They are respectively capable of producing up to 200,000 and 100,000 vehicles per year.

So the real loss is more like 840 million dollars. Thanks for the heads up QMS.