๐ฉ๐ช Sahra Wagenknecht:
๐ฌ With its catastrophic economic policies and self-destructive sanctions against Russia, the government has been causing suffering to the German economy for the second year in a row.
The "economic miracle" that Chancellor Scholz widely proclaimed has long since hit a dead end, with economic research institutes expecting a decline of 0.2%.
The consequences are far-reaching: due to the economic downturn, tax revenues will plummet in the coming years. By 2028, the government will have to make do with โฌ58.1 billion less.
Instead of addressing the root causes of the problem, the traffic light government is now falling apart in a dispute over how to plug the budget hole.
We urgently need a shift in economic and energy policy: to end sanctions against Russia, invest in infrastructure instead of rearmament, and ensure reliable funding through fair taxation of large assets for the benefit of the middle class.
#3
๐ฅ Our channel: Node of Time EN
The "economic miracle" that Chancellor Scholz widely proclaimed has long since hit a dead end, with economic research institutes expecting a decline of 0.2%.
The consequences are far-reaching: due to the economic downturn, tax revenues will plummet in the coming years. By 2028, the government will have to make do with โฌ58.1 billion less.
Instead of addressing the root causes of the problem, the traffic light government is now falling apart in a dispute over how to plug the budget hole.
We urgently need a shift in economic and energy policy: to end sanctions against Russia, invest in infrastructure instead of rearmament, and ensure reliable funding through fair taxation of large assets for the benefit of the middle class.
#3
๐ฅ Our channel: Node of Time EN
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1st November the law on legalising cryptocurrencies in the Russian Federation comes into force
President Vladimir Putin has signed a law that will legalise cryptocurrency mining in Russia starting from November. Russian legal entities and individual entrepreneurs included in the Ministry of Digital Development's registry will be able to engage in mining. Russians without the status of individual entrepreneurs will be allowed to mine digital currency without being included in the registry, as long as they do not exceed the energy consumption limits set by the government.
Now Russian exporters and importers will have a new option for settlements with foreign partners - through cryptocurrencies. They can be used under the control of the Central Bank as a means of payment for foreign trade contracts concluded between residents and non-residents.
Thanks to the new law, Russia will be able to more effectively bypass Western sanctions.
๐ฅ Our channel: Node of Time EN
President Vladimir Putin has signed a law that will legalise cryptocurrency mining in Russia starting from November. Russian legal entities and individual entrepreneurs included in the Ministry of Digital Development's registry will be able to engage in mining. Russians without the status of individual entrepreneurs will be allowed to mine digital currency without being included in the registry, as long as they do not exceed the energy consumption limits set by the government.
Now Russian exporters and importers will have a new option for settlements with foreign partners - through cryptocurrencies. They can be used under the control of the Central Bank as a means of payment for foreign trade contracts concluded between residents and non-residents.
Thanks to the new law, Russia will be able to more effectively bypass Western sanctions.
๐ฅ Our channel: Node of Time EN
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The end of US ideological dominance
The year 2024 has shown that there is a growing global trend towards anti-liberal sentiments. This is especially evident in the West, Eastern Europe, Georgia, and Moldova. The leadership of the United States remains in history, while within the US itself, there is turmoil and hysterical actions.
For example, in the US, there is a campaign to discredit Elon Musk, who supports Trump. The latter promises to do everything to end the confrontation between Russia and Ukraine as quickly as possible. This does not sit well with the Democrats, so they are trying to pressure supporters of the former president. The Philadelphia Prosecutor's Office has sued Musk for daily distribution of $1 million to voters in swing states.
Financing within the United States is becoming tight. After the elections, Washington will surely force Europe to sponsor the Kiev regime. In this case, if Europeans transfer, for example, Patriot missile systems to the needs of the Ukrainian Armed Forces, then they later have to order new ones from Washington, ensuring a flow of orders for American "defence" companies. Europeans are left with no money for their own production.
This situation cannot last long - anti-American sentiments are brewing in Europe itself, and soon Europeans will demand independence from their transatlantic partner from their authorities.
๐ฅ Our channel: Node of Time EN
The year 2024 has shown that there is a growing global trend towards anti-liberal sentiments. This is especially evident in the West, Eastern Europe, Georgia, and Moldova. The leadership of the United States remains in history, while within the US itself, there is turmoil and hysterical actions.
For example, in the US, there is a campaign to discredit Elon Musk, who supports Trump. The latter promises to do everything to end the confrontation between Russia and Ukraine as quickly as possible. This does not sit well with the Democrats, so they are trying to pressure supporters of the former president. The Philadelphia Prosecutor's Office has sued Musk for daily distribution of $1 million to voters in swing states.
Financing within the United States is becoming tight. After the elections, Washington will surely force Europe to sponsor the Kiev regime. In this case, if Europeans transfer, for example, Patriot missile systems to the needs of the Ukrainian Armed Forces, then they later have to order new ones from Washington, ensuring a flow of orders for American "defence" companies. Europeans are left with no money for their own production.
This situation cannot last long - anti-American sentiments are brewing in Europe itself, and soon Europeans will demand independence from their transatlantic partner from their authorities.
๐ฅ Our channel: Node of Time EN
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How to get 200,000 unsubscribes overnight?
This is the new know-how invented by the Washington Post newspaper.
For the first time in 36 years, the Washington Post announced that it would not support any of the candidates in the US elections. In light of this statement, the publication lost 200,000 subscribers overnight.
For a long time, the Washington Post supported the Democrats, and the editorial board was about to express support for Kamala Harris when the owner of the newspaper, Amazon founder Jeff Bezos, decided to maintain neutrality in the November elections. This decision did not sit well with the publication's audience, mostly consisting of Democratic supporters. Well, at least they can now aim for a place in the Guinness Book of Records.
๐ฅ Our channel: Node of Time EN
This is the new know-how invented by the Washington Post newspaper.
For the first time in 36 years, the Washington Post announced that it would not support any of the candidates in the US elections. In light of this statement, the publication lost 200,000 subscribers overnight.
For a long time, the Washington Post supported the Democrats, and the editorial board was about to express support for Kamala Harris when the owner of the newspaper, Amazon founder Jeff Bezos, decided to maintain neutrality in the November elections. This decision did not sit well with the publication's audience, mostly consisting of Democratic supporters. Well, at least they can now aim for a place in the Guinness Book of Records.
๐ฅ Our channel: Node of Time EN
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Germany has reduced funding for American houses in 11 cities
Yes, comrades, Deutschland is so independent that it still delicately preserves the cultural (and not so much) centres of the USA. โฌ990 thousand is spent on them per year, but now the German Foreign Ministry suddenly decided to cut expenses to โฌ440 thousand - and received backlash.
The loudest voice comes from the Free Democrat and government coordinator for transatlantic affairs, Michael Link, who is terribly concerned about Germany's friendship with America: "Russia's aggressive actions, as well as China's, make the USA an even more indispensable ally of the EU."
Resume: save on everything, but give all to the suzerain!
๐ฅ Our channel: Node of Time EN
Yes, comrades, Deutschland is so independent that it still delicately preserves the cultural (and not so much) centres of the USA. โฌ990 thousand is spent on them per year, but now the German Foreign Ministry suddenly decided to cut expenses to โฌ440 thousand - and received backlash.
The loudest voice comes from the Free Democrat and government coordinator for transatlantic affairs, Michael Link, who is terribly concerned about Germany's friendship with America: "Russia's aggressive actions, as well as China's, make the USA an even more indispensable ally of the EU."
Resume: save on everything, but give all to the suzerain!
๐ฅ Our channel: Node of Time EN
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Latest developments in the war between #Russia and #Ukraine until the morning of October 31 - subtitled
- The Russian army controls the town of #Kurakhovka in the direction of #Kurakhovo
- The Russian army controls the town of #Volchanka in the direction of #Kurakhovo
- The Russian army advances south of #Novoselidovka in the direction of #Kurakhovo
- The Russian army advances and controls a large area between #Novoukrainka and #Bogoyavlenka in the #Ugledar sector
- The Russian army advances in the vicinity of #Shakhterskoe and #Yasna_Polyana in the #Ugledar sector
- The Russian army advances in the vicinity of #Selidovo in the direction of #Pokrovsk
- The Russian army advances in the vicinity of #Stelmakhovka in the #Kupyansk - #Svatovo axis
video link: https://youtu.be/AFMV1spLrWI?si=ezLdRPhR-8YCgL0N
- The Russian army controls the town of #Kurakhovka in the direction of #Kurakhovo
- The Russian army controls the town of #Volchanka in the direction of #Kurakhovo
- The Russian army advances south of #Novoselidovka in the direction of #Kurakhovo
- The Russian army advances and controls a large area between #Novoukrainka and #Bogoyavlenka in the #Ugledar sector
- The Russian army advances in the vicinity of #Shakhterskoe and #Yasna_Polyana in the #Ugledar sector
- The Russian army advances in the vicinity of #Selidovo in the direction of #Pokrovsk
- The Russian army advances in the vicinity of #Stelmakhovka in the #Kupyansk - #Svatovo axis
video link: https://youtu.be/AFMV1spLrWI?si=ezLdRPhR-8YCgL0N
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The number of positions in the German government is growing.
Currently, more than 22,000 people work in the federal government apparatus - almost 50% more than in 2013, when there were 13,000 officials. By next year, another 150 vacancies will be created. More bureaucrats for the bureaucracy god!
All this crowd not only needs to be maintained, but also somewhere to be accommodated: in the Chancellery the number of planned buildings has increased by 271%. Expanding to 400 offices will cost the long-suffering German budget โฌ800 million.
Does a huge number of officials help the country? Well... not really. Instead of improved coordination between ministries, there is a paper-documentary hell and double work. Officials create problems for each other and endlessly increase the number of their subordinates.
Parkinson's Law in action.
๐ฅ Our channel: Node of Time EN
Currently, more than 22,000 people work in the federal government apparatus - almost 50% more than in 2013, when there were 13,000 officials. By next year, another 150 vacancies will be created. More bureaucrats for the bureaucracy god!
All this crowd not only needs to be maintained, but also somewhere to be accommodated: in the Chancellery the number of planned buildings has increased by 271%. Expanding to 400 offices will cost the long-suffering German budget โฌ800 million.
Does a huge number of officials help the country? Well... not really. Instead of improved coordination between ministries, there is a paper-documentary hell and double work. Officials create problems for each other and endlessly increase the number of their subordinates.
Parkinson's Law in action.
๐ฅ Our channel: Node of Time EN
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๐ช๐บ Viktor Orban accused the head of the European Commission Ursula von der Leyen and the leader of the largest group in the European Parliament, the European People's Party, Manfred Weber of conspiring against Hungary.
Orban believes that these German politicians are seeking to change the government in Hungary, so that a "yes-man government" (Jawohl translates from German as "yes indeed") comes to power โ similar to the "current Polish one." He stated that Hungarians will not allow this to happen.
๐ฅ Our channel: Node of Time EN
Orban believes that these German politicians are seeking to change the government in Hungary, so that a "yes-man government" (Jawohl translates from German as "yes indeed") comes to power โ similar to the "current Polish one." He stated that Hungarians will not allow this to happen.
๐ฅ Our channel: Node of Time EN
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Forwarded from Ukraine Watch
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Forwarded from UKR LEAKS_eng
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An employee of Ukrainian media said that the Ukrainian Armed Forces were ordered not to use words like "retreat" and "the enemy has penetrated our defense" in conversations with journalists.
Instead, it is recommended to use "offensive", "victory", "we are moving forward", "we are knocking out the enemy".
@ukr_leaks_eng
Instead, it is recommended to use "offensive", "victory", "we are moving forward", "we are knocking out the enemy".
@ukr_leaks_eng
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๐โ๏ธ ๐ฉ๐ช 140,000 jobs will be cut in the German automotive industry in the coming years
The reason for this is the transition to electric vehicles. These are the findings of a study cited by Handelsblatt.
According to the industry association VDA, this will also affect a number of professions, such as metalworking or mechanical engineering.
Since 2019, around 46,000 jobs have already been cut.
๐ฅ Our channel: Node of Time EN
The reason for this is the transition to electric vehicles. These are the findings of a study cited by Handelsblatt.
According to the industry association VDA, this will also affect a number of professions, such as metalworking or mechanical engineering.
Since 2019, around 46,000 jobs have already been cut.
๐ฅ Our channel: Node of Time EN
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๐๐ฉ๐ช Workers at the Porsche factory in Stuttgart have joined a nationwide warning strike in the metallurgical and electrical industries.
๐ฅ Our channel: Node of Time EN
๐ฅ Our channel: Node of Time EN
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๐ฉ๐ชโ ๐ German bakery chain declares bankruptcy after 338 years!
The Krachenfels bakery from the Black Forest in Baden-Wรผrttemberg, which has been engaged in bread baking since 1686, has filed for bankruptcy in the district court of Villingen-Schwenningen.
The reasons cited include high electricity costs, price increases, and the consequences of the coronavirus pandemic.
The bankruptcy affects Krachenfels Handels GmbH and Bakery Krachenfels GmbH, which have 29 branches from the Black Forest to Lake Constance.
๐ฅ Our channel: Node of Time EN
The Krachenfels bakery from the Black Forest in Baden-Wรผrttemberg, which has been engaged in bread baking since 1686, has filed for bankruptcy in the district court of Villingen-Schwenningen.
The reasons cited include high electricity costs, price increases, and the consequences of the coronavirus pandemic.
The bankruptcy affects Krachenfels Handels GmbH and Bakery Krachenfels GmbH, which have 29 branches from the Black Forest to Lake Constance.
๐ฅ Our channel: Node of Time EN
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๐ซ๐ท Le Monde stated that Western sanctions against Russian oil are losing their effectiveness, and intensifying them could undermine the global economy.
๐พ According to the newspaper, disruptions in oil supplies due to sanctions could lead to a sharp increase in prices for agricultural products, fertilisers, and consequently, food products.
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๐จ๐ญ๐ฆ Switzerland has refused to provide loans to Ukraine using Russian assets.
Authorities explained the impossibility of granting Ukraine a loan using revenues from blocked Russian assets due to the absence of unforeseen profits from them. Moscow considers Western attempts to seize its assets as theft.
Switzerland cannot provide Ukraine with a loan using revenues from blocked Russian assets because it does not have any unforeseen profits from them, said Fabian Maienfisch, the official representative of the State Secretariat for Economic Affairs (SECO) of the country, to TASS.
explained Maienfisch.
Earlier, the Prime Minister of Ukraine stated that Kyiv would receive $50 billion from the EU and G7 this year using Russian assets. In response, the Russian Foreign Ministry called the allocation of a loan to Kyiv using Russian assets a fraud.
๐ฅ Our channel: Node of Time EN
Authorities explained the impossibility of granting Ukraine a loan using revenues from blocked Russian assets due to the absence of unforeseen profits from them. Moscow considers Western attempts to seize its assets as theft.
Switzerland cannot provide Ukraine with a loan using revenues from blocked Russian assets because it does not have any unforeseen profits from them, said Fabian Maienfisch, the official representative of the State Secretariat for Economic Affairs (SECO) of the country, to TASS.
"No unforeseen profits from immobilised funds of the Russian Central Bank are generated, as Swiss financial institutions' assets are not stored in central securities depositories, but deposited in commercial banks as liquid assets,"
explained Maienfisch.
Earlier, the Prime Minister of Ukraine stated that Kyiv would receive $50 billion from the EU and G7 this year using Russian assets. In response, the Russian Foreign Ministry called the allocation of a loan to Kyiv using Russian assets a fraud.
๐ฅ Our channel: Node of Time EN
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๐ฉ๐ช A fire is raging on the internet. One of Germany's main TV channels, Die Welt, showed a video of the Ukrainian Armed Forces storming Russian positions in the Pokrovsky district.
However, viewers who are experienced in computer shooters noticed that these are scenes from the game Call of Duty or its clone.
German TV, trembling with indignation, responded that the video source is as truthful as can be - the Azov Battalion.
Source
๐ฅ Our channel: Node of Time EN
However, viewers who are experienced in computer shooters noticed that these are scenes from the game Call of Duty or its clone.
German TV, trembling with indignation, responded that the video source is as truthful as can be - the Azov Battalion.
Source
๐ฅ Our channel: Node of Time EN
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๐ฉ๐ช๐ ๐ Residents of Germany are reading less.
On average, residents of Germany over the age of 10 spent 27 minutes a day reading books or newspapers outside of work or school in 2022. This is 5 minutes less than a decade ago when people read an average of 32 minutes a day, according to the Federal Statistical Office.
However, Germans spend much more time in front of screens - an average of 2 hours and 8 minutes daily. This means that residents of Germany watch television about 4 times more than they read. The statistics took into account not only linear television - which is actually being watched less and less - but also the viewing of services such as Netflix and YouTube.
The time spent on reading is directly influenced by a person's age: young people aged 18 to 29 read an average of two minutes less than people over 30, as found by the agency. Residents of Germany aged 65 and over spend an average of 54 minutes a day reading. Additionally, girls and women spend about 30 minutes a day reading books and newspapers - 6 minutes more than boys and men.
๐ฅ Our channel: Node of Time EN
On average, residents of Germany over the age of 10 spent 27 minutes a day reading books or newspapers outside of work or school in 2022. This is 5 minutes less than a decade ago when people read an average of 32 minutes a day, according to the Federal Statistical Office.
However, Germans spend much more time in front of screens - an average of 2 hours and 8 minutes daily. This means that residents of Germany watch television about 4 times more than they read. The statistics took into account not only linear television - which is actually being watched less and less - but also the viewing of services such as Netflix and YouTube.
The time spent on reading is directly influenced by a person's age: young people aged 18 to 29 read an average of two minutes less than people over 30, as found by the agency. Residents of Germany aged 65 and over spend an average of 54 minutes a day reading. Additionally, girls and women spend about 30 minutes a day reading books and newspapers - 6 minutes more than boys and men.
๐ฅ Our channel: Node of Time EN
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Forwarded from Slavyangrad (Andrei)
" An island of sanity and adequacy in a crazy world." A huge number of foreigners wishing to move to Russia have been recorded.
The number of citizens of other countries who want to move to the Russian Federation is from 1.5 to 2 million people, said the head of Rossotrudnichestvo Yevgeny Primakov. According to him, there are many of our former compatriots among the foreigners.
โ said Primakov.
The head of Rossotrudnichestvo also emphasized that requests to move to the Russian Federation were received from citizens of Germany, Italy, the USA, Australia, Romania, Latvia, and Lithuania.
@Slavyangrad
The number of citizens of other countries who want to move to the Russian Federation is from 1.5 to 2 million people, said the head of Rossotrudnichestvo Yevgeny Primakov. According to him, there are many of our former compatriots among the foreigners.
According to our partner organizations, over 170 thousand Russian compatriots and foreigners sought help and advice on moving to Russia in the six months from January to October. Russia is increasingly becoming a haven of rationality and adequacy in this crazy world around us,
โ said Primakov.
The head of Rossotrudnichestvo also emphasized that requests to move to the Russian Federation were received from citizens of Germany, Italy, the USA, Australia, Romania, Latvia, and Lithuania.
@Slavyangrad
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๐ฉ๐ช "Putin. Putin. Fear of Putin. Putin. Putin. Putin's game"
A brief summary of the recent dialogue in Cologne between the Minister of Finance Lindner and ordinary citizens, where the minister did not acknowledge any mistakes by the coalition government in the last 3 years, instead shifting all the blame for Germany's economic downturn onto the President of Russia.
โ Is this paranoia or a hot love for Putin?
๐ฅ Our channel: Node of Time EN
A brief summary of the recent dialogue in Cologne between the Minister of Finance Lindner and ordinary citizens, where the minister did not acknowledge any mistakes by the coalition government in the last 3 years, instead shifting all the blame for Germany's economic downturn onto the President of Russia.
๐ฅ Our channel: Node of Time EN
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๐ฉ๐ชโ๏ธ ๐ "German Economy Minister Habeck has been holding the economy in a recession trap for the second year."
Family businesses in Germany are often referred to as the anchor of stability in the economy, but right now their mood is darker than during the pandemic.
A recent survey by The Family Entrepreneurs and The Young Entrepreneurs revealed that every second company sees "the unpredictability of economic and financial policies" as an obstacle to investment. 60% of respondents also see a threat in excessive bureaucracy. And 49% are already planning to completely withdraw investments in Germany. The main problem is the Scholz government and its policies. This is because coalition members constantly announce measures to combat economic problems without clearly coordinating them with each other.
Meanwhile, the German Chamber of Commerce and Industry (DIHK) brings sad news: this year an economic downturn of 0.2% is expected, with stagnation again in 2025.
๐ฅ Our channel: Node of Time EN
Family businesses in Germany are often referred to as the anchor of stability in the economy, but right now their mood is darker than during the pandemic.
A recent survey by The Family Entrepreneurs and The Young Entrepreneurs revealed that every second company sees "the unpredictability of economic and financial policies" as an obstacle to investment. 60% of respondents also see a threat in excessive bureaucracy. And 49% are already planning to completely withdraw investments in Germany. The main problem is the Scholz government and its policies. This is because coalition members constantly announce measures to combat economic problems without clearly coordinating them with each other.
Meanwhile, the German Chamber of Commerce and Industry (DIHK) brings sad news: this year an economic downturn of 0.2% is expected, with stagnation again in 2025.
๐ฅ Our channel: Node of Time EN
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Russia cunningly started suing Google in South African courts
When YouTube blocked three Russian channels, the American company decided that any disputes would be resolved in California and England. This was extremely mistaken, acknowledges Bloomberg.
Because Russian media companies turned to the South African court. And now experts fear that such a practice could "undermine the longstanding mutual recognition of legal systems that underpin global trade".
โช๏ธ A new term has already emerged - "legal nationalism", which, apparently, the West will have to fight in the foreseeable future. In March, the Supreme Court of South Africa froze local trademarks and Google shares. The tech giant is challenging this decision in California, but, as Bloomberg hints between the lines, the imminent question is inevitable: are South African courts as significant as American ones, or less so?
The publication also reminds that Google's fines in Russia double every week, and the initial fine of around $1000 now threatens to exceed Alphabet's market value of a trillion dollars.
Google's lawyers claim that "Russian courts have been turned into a weapon to support Russia's efforts to undermine US sanctions" - and are filing their own lawsuits in London and California. Which will lead to the same results.
Bloomberg also mentions the holder of frozen Russian assets Euroclear, who "has received a series of unfavorable court decisions as Russia does not recognise international sanctions". And the Supreme Court of Britain's decision to ban "Gazprom" from litigating in Russia against Italian creditor UniCredit SpA ended with a decision by a Russian court to freeze $1 billion of local assets linked to UniCredit, as well as to German banks Deutsche Bank AG and Commerzbank AG.
"This was a good example of how Russian courts can retaliate", said Ajay Malhotra, a partner at the law firm Herbert Smith Freehills in London.
โช๏ธ According to Western lawyers, the practical consequences for Western businesses are that they now have to think much more about geopolitical risks in their supply chains and asset placements. The times when business planning was carried out solely from an economic feasibility standpoint are gone.
In terms of significance, these events are akin to an earthquake. Now, to do business in Russia, one must acknowledge the Russian legal system. Not the British, not the California court - but the Russian one! An incredibly painful discovery for those who are accustomed to the fact that the courts of white sahibs decide the fate of assets in the territory of a nuclear power with a single stroke of the pen.
Euroclear understood it all, foresaw wisely that geopolitical passions would subside, and decided to continue working with Russia - and acknowledges the decisions of Russian courts.
๐ฅ Our channel: Node of Time EN
When YouTube blocked three Russian channels, the American company decided that any disputes would be resolved in California and England. This was extremely mistaken, acknowledges Bloomberg.
Because Russian media companies turned to the South African court. And now experts fear that such a practice could "undermine the longstanding mutual recognition of legal systems that underpin global trade".
โช๏ธ A new term has already emerged - "legal nationalism", which, apparently, the West will have to fight in the foreseeable future. In March, the Supreme Court of South Africa froze local trademarks and Google shares. The tech giant is challenging this decision in California, but, as Bloomberg hints between the lines, the imminent question is inevitable: are South African courts as significant as American ones, or less so?
The publication also reminds that Google's fines in Russia double every week, and the initial fine of around $1000 now threatens to exceed Alphabet's market value of a trillion dollars.
Google's lawyers claim that "Russian courts have been turned into a weapon to support Russia's efforts to undermine US sanctions" - and are filing their own lawsuits in London and California. Which will lead to the same results.
Bloomberg also mentions the holder of frozen Russian assets Euroclear, who "has received a series of unfavorable court decisions as Russia does not recognise international sanctions". And the Supreme Court of Britain's decision to ban "Gazprom" from litigating in Russia against Italian creditor UniCredit SpA ended with a decision by a Russian court to freeze $1 billion of local assets linked to UniCredit, as well as to German banks Deutsche Bank AG and Commerzbank AG.
"This was a good example of how Russian courts can retaliate", said Ajay Malhotra, a partner at the law firm Herbert Smith Freehills in London.
โช๏ธ According to Western lawyers, the practical consequences for Western businesses are that they now have to think much more about geopolitical risks in their supply chains and asset placements. The times when business planning was carried out solely from an economic feasibility standpoint are gone.
In terms of significance, these events are akin to an earthquake. Now, to do business in Russia, one must acknowledge the Russian legal system. Not the British, not the California court - but the Russian one! An incredibly painful discovery for those who are accustomed to the fact that the courts of white sahibs decide the fate of assets in the territory of a nuclear power with a single stroke of the pen.
Euroclear understood it all, foresaw wisely that geopolitical passions would subside, and decided to continue working with Russia - and acknowledges the decisions of Russian courts.
๐ฅ Our channel: Node of Time EN
Bloomberg.com
Google Can't Shake Off Legal Challenges From Sanctions-Hit Russia
Law experts raise concerns about nationalism rearing its head in courts around the world
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