Topic: Russia Sanctions Will Spur the Adoption of Crypto and Reduce USD Dominance - IMF (Read 402 times)

The truth is that I don't know, Russia is a very powerful and oil-producing country, only the ships that are idle I think without exaggeration if they manage to sell all the oil it would fall to almost 30USD per barrel because the Russians simply supplied how many countries they would like, and that is something that is taken into account in the USA and Europe, I do not think that they are going to continue to issue more sanctions, because those sanctions have disturbed the quality of life in Europe and the USA, so much so that they have had to go to speak of the Americans with Venezuela, a country that they did not want to know about absolutely nothing, and thanks to the need and desperation now it is happening.

This just means that overall and looking at the long-term, economic sanctions are not really working and not producing the kind of effects that big countries like USA, UK and others have been expecting...and they must be blind to not accept this fact. For as long as Putin can sell his own oil then no sanctions can harm them 100%. Sadly, many countries even including the USA could not live without the oil and gas and so they have no choice but to buy some supplies from Russia. To stop the way, all should stop buying any amount of Russian oil and all must be supporting Ukraine with ammunitions to combat the invaders.

On the dominance of the USA Dollar, it must be noted that it has been on the decline since many years ago and its enemies are marching on to strike USA on its Achilles hell...its economy and they are working to lessen the dependency of international commerce on the dollar. When majority of international transactions are not anymore done using the dollar then that can be the time when Americans can feel hyper-inflation and the big decline on its economic standing. China, Russia, Germany and even Iran would be coming on the global scene to fill the leadership gap.

although we see sanctions in the Russian Federation, but I am not sure that they will switch to cryptocurrency and adopt certain laws there, for example, I do not see any progress in this direction, maybe in the future it will be so, but most likely the Russian Federation will stimulate its state currency, not cryptocurrency.

On the night of April 13-14, due to the self-confidence of Russia's top military leadership, the Armed Forces of Ukraine won a major strategic victory at sea. Two Ukrainian-made missiles "Neptune" caused significant damage to the flagship of the Russian Black Sea Fleet - the nuclear-powered missile cruiser "Moskva". After that, the ammunition detonated on the cruiser itself and a big fire started. They tried to tow him to the occupied Sevastopol, but after a while he rolled over and drowned. Russia acknowledged the fact of the death of the cruiser, but hides the causes of the fire.

The Moskva cruiser was designed to protect the entire group of ships located off the coast of Ukraine from enemy missiles and had appropriate weapons for this, capable of firing up to 5,000 rounds per minute, but could not even protect itself. Prior to that, he fired rockets only at peaceful cities in Ukraine, and also had to ensure the large Russian offensive planned from day to day in southern Ukraine. According to information that Russia has not yet confirmed, of the 510 crew members of the cruiser, only 58 sailors were rescued. Almost the entire leadership, led by the captain, perished. Since the rest of the ships of the Russian fleet turned out to be practically defenseless from the air, and the Ukrainian "Neptunes" can reach the ports of the occupied Crimea, they hastily retreated to the south. The Ukrainian armed forces have offered the Russian fleet to leave the Black and Azov Seas while there is such an opportunity.

In Russia, there were only three ships of a similar class as the Moskva cruiser. But there is no need to wait for Russia's help in the Black Sea. The Bosphorus channel at the entrance to the Black Sea was closed by Turkey for all warships, you can only leave this sea, but not enter. Russia was defeated not only on land and in the air, but also at sea.

 By the way, not so long ago, the Armed Forces of Ukraine sank a large Russian landing ship called "Saratov" in the occupied port of Berdyansk. True, Ukraine then struck with a Tochka U missile, which was not intended for surface targets.

There is no denying the fact that the war and the sanctions have opened a new door for Russia which is also a world leader after Russia's central currency crashed against the dollar following the sanctions mass against them by the US and other countries.

This opens up the adoption of other currencies by Russian and their major cooperation goes to china since their trades are ordered to be executed using other currencies aside from the regular USD.

Indeed, the war between Russia and Ukraine has pushed crypto to new heights, surely other countries have seen the benefits of crypto in war or will use crypto to evade sanctions. But it will not be good news if cryptocurrencies weaken the strength of USD and EURO, US and EU will not sit idly by and let their currencies lose their dominant position.
They will have regulations that even embargo bitcoin and crypto, they will never be able to kill crypto but with the embargo from the US and the EU will have a huge impact on the development of crypto.

Bitcoin adoption is unlikely and Russia will go the way of China. It is now a major strategic partner for Russia, which has completely banned all cryptocurrencies and their mining. Russia needs to strengthen its national currency and adopting bitcoin will weaken it. Moreover, the Central Bank is categorically against cryptocurrencies.

I only wonder why people of Russia do not go out in protest,they have literally have been deprived from their 'freedom" to use any currency and can only use Rubles,can not send money abroad or not receive money from abroad.
Isn't this the kind of sanctions that should make normal Russian citizen to wake up in protest?The average Russian now has fallen down in his personal finances/economy quite a lot and I wonder why they do not react.Most probably the propaganda from Russian TV State media is brainwashing them with some success from the war in Ukraine,when in fact the so called "second strong army in the world" is nothing more than a bunch of murderers and rapist pigs.

Asides countries that broke out from Russia, Countries Like China, Iran and India will sure trade and affiliate with Russia since they've been supportive of them even in the USSR as of old.
Russia despite the sanctions has seen it's Rubble increase han the way it was even before the invasion, I think a lil bit higher than the USD.
The adoption of Bitcoin seems slow, and I think and considers going slow at times a good move.

Wasn't this the idea behind the attack on Pearl Harbor? To "stun" America crippling her badly so they would leave them alone during their pacific conquest?. That didn't end too well did it?

Prior to this invasion, Russia was moving towards Bitcoin ilegalization forcing their miners to sell everyrhing to their central bank. Has any of this changed? What ever happened to the Digital Ruble? (because CBDCs are in fashion it seems).

               Thanks for this, such good information. Now, looking at this, we can easily say that the tactics were dumb and the overconfident Russian military had suffered a massive consiquence due to their arrogance. The problem here is the execution of tactics. The tactician was to proud and did not consider all possibilities. This does not mean though that the overall plan was stupid. Just that the execution of some oarts of it was bad. In this case, military tactics.

Now even in Russia they admit that the organization of a military attack on Ukraine was not thought out enough. The calculation was simply to stun the Ukrainians with a massive attack of military equipment from three sides of the borders of Ukraine and immediately in eight directions. Already when the Russian troops got very bogged down and began to suffer defeat in manpower and equipment, they realized that they were greatly mistaken and even called the military tactics of the Armed Forces of Ukraine intellectual.

The Armed Forces of Ukraine did not get involved in frontal battles and, having let the enemy columns inside their territory, they began to hit the columns of armored vehicles from the sides in small mobile groups. The big mistake of the Russian command was that the advanced units were not followed by troops that would remain in the occupied territory, and there was also no provision of advanced units with fuel, ammunition, medical care and even food. They expected to capture almost the entire territory of Ukraine without much resistance in a few days and use everything captured. There was not even a common unified command of the offensive against Ukraine in Russia. The Armed Forces of Ukraine began to beat a few support columns and a week later the occupying army turned into a hungry army of marauders without any command.
They paid the price for this: about 20,000 killed, several times more wounded, more than 700 tanks, 1895 armored vehicles, 151 aircraft, 136 helicopters, 335 artillery systems, 108 multiple launch rocket systems, 1363 various vehicles were destroyed and captured. There are much more military losses in equipment than many armies of European countries now have.

Now the Russian army in Ukraine is demoralized, they do not understand what they are doing in Ukraine, they are shocked by the heavy losses, so the soldiers are looking for ways to get out of this hell and often inflict gunshot wounds on themselves just to stay alive.

               Still though, we cannot call the overall plan as stupid just yet regardless of the majority being misinformed or not. And being prepared for wars is already a given. What I focused on was the countermeasures that putin and the minds helping him have devised to ensure as much benefits as possible regardless of the losses they would suffer. The more fitting word would be immoral. But then again, I kay just he assuming these things. But until more of this uncovers, im believing this assumption.

The Russian rubles is losing value l with great intensity and the only way Putin could restore their falling economy is to ask other countries to pay in rubles so the value of their currency can go a little bit high. We know what the Russian government is planning. Putin may decides to regather his soldiers to prepare for another strike since their had been many sanctions on them.

Wouldn't you think EU and US won't do something about this? Since their effort of sanctions won't affect russia? Well, russia is used to it already.

I think if this really happen, these oldies in EU and US will take all the blame to bitcoin and cryptocurrencies, it might be something stupid to think but it's possible to change their regulations and even totally ban bitcoin and cryptocurrencies in their jurisdictions for these reasons. Idk, hope it won't happen.

It is guaranteed that there were people who helped him planned it, but I am not entirely sure if they "wanted" it. There is a difference between wanting to go to a war, and being prepared for a war, those are two different things. People in military would know that you need to be ready for war at any given moment, but you would prefer if there were no wars at all.

There are people dying all the time, soldiers that work under you that gets killed, no soldier, general or private, wouldn't want something like this. Putin may have asked them to do it, and they were forced to do it but I am sure that nobody in Russia would want Russian soldiers to die for this, they would prefer avoiding it if it's possible.

               On the contrary, I don't think the majority of the Russian government sees this move as stupid though. I mean, Putin alone didn't plan all these and obviously had several minds that helped him create such plans in starting a war, what countermeasures would be done on different scenarios and more. Though these actions I frown upon, because of being immoral anf unfair dor the Ukrainians, I still think there is more to this plan than we we are seeing right now and quite a bit early to call it stupid.

Which country defends its sovereignty?
Why are you lying ?
Russia is killing people in Ukraine!!!
Russia does NOT protect anything!
Russia brought pain, grief and death to a neighboring country!
I wish you to be in Mariupol together with your family, you are a soulless false propagandist!

The most stupid act on the part of Putin and his elite was to attack Ukraine in order to seize its territory and try to subordinate it to their interests. The second stupidity was to commit terror and genocide of the Ukrainian people, when the Russians saw that they were not met with flowers, but were given a worthy rebuff. The Kremlin decided to intimidate Ukrainians with the massacres of women and children, as well as the total destruction of cities and other settlements. But Ukraine has only rallied in the face of a common threat and is now beating the "second army of the world" in all directions.
The hitherto unprecedented sanctions were the result of a similar rallying of Europe and other states in the face of a common threat to world security from Russia. This was also not calculated in the Kremlin. In a year, Russia will become the poorest state and will be despised throughout the world.

               With Russia's experience in the years before the recent sanctions coupled with what they have seen in other cases where sanctions have also been imposed, I do not think Russia hasn't thought of a plan to counter these sanctions prior to their acts of war. That'd be a hell of a stupid move. Not to mention the emergence of crypto currency and it's hastening mass adoption, the Russian government really has dozens of way to go about the sanctions.