Joe Mac
Well-Known Member
Sadly I'm to skeptical for this. I think China is a) looking to guage what kind of response an invasion of Taiwan would receive in turn, particularly with the international players distracted by escalation in the Ukrainian conflict and b) will almost certainly be back-door financing Russia, rendering a these sanctions being discussed far more ineffective than the NATO countries seem to think they are going to be.
Russia also has a relatively small sovereign debt. Holds huge foreign currency reserves and has been divesting its energy business towards China since the Crimean annexation in 2014. Where it is weak, and where these sanctions could hurt, is the amount of Russian stock that is traded in London and the amount of the oligarchs money that held there. Acting quickly to freeze that could hit Putin’s support base pretty hard pretty quickly. Whether he can front that out until the greed of the city once again overtakes morals is the question.