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Prune60 Profile picture
@Prune602
Sep 20 • 6 tweets • 2 min read • Read on X
‼️ Russia: “For the first time, the power plant was completely freed from modernization obligations”

This keeps coming up…

“Due to sanctions, the company was unable to obtain a super-powerful gas turbine from General Electric (GE)”

kommersant.ru/doc/7168134
Image
I read about this several other times. I haven’t take the time to track and research how big the problem is, but turbines appear to be an issue.

Either they’re unable to get foreign made or…I think import substitution has failed.
I need to look into this more, but I *think* I’ve read other situations when projects keep getting pushed out because the Russian made turbines aren’t available. (Maybe it’s like planes)
Also, back in August, this article came out discussing the failure to secure bids for a new thermal power plant for the Southern energy system.

And…it’s almost like they WANTED it to fail. The requirements were insanely unreasonable.

kommersant.ru/doc/6903646
Image
And one of the requirements was to use Russian turbines. Image
It’s one of those things I might investigate more if I have time, but it definitely seems to be a problem.

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More from @Prune602

Prune60 Profile picture
Sep 20
‼️ “Large Russian businesses have encountered problems with repaying debts in Chinese yuan, which they have been accumulating since the start of the war in Ukraine, following the Kremlin's directive to move away from "toxic" currencies.”

🍿

moscowtimes.ru/2024/09/20/otd…

Image
“Russia's largest owner of oil tankers and the main operator of the shadow fleet of Russian oil companies, Sovcomflot, announced that it will pay the next coupon on the issue of yuan bonds in rubles.”

How do people feel about the accuracy of the Yuan/Ruble exchange rate? 😃 Image
“large issuers of yuan bonds have already "raked out" all the available Chinese currency from the Moscow Exchange, and its inflow is complicated by sanctions.”

*Gasp* 🫢 do…do sanctions work? Image
Read 12 tweets
Prune60 Profile picture
Sep 18
Quick Update on this week’s OFZ results.

I will still plan to do a more formal update later, but I’m in a weird spot of hoping I get more (better) data vs, just telling you what I’ve got. In addition there was something else interesting that came out today 👀
And I don’t really want to sit on that news, because it’s also VERY interesting. So I thought I’d maybe give you a little preview of both?

Here is rough draft of what happened in terms of placements today. They’ve now officially passed 50% of their goal for the year. Image
Which isn’t really a good sign when you’ve only got 1 auction day left in Q3 AND most of the money went to repaying previous debts.

So…yeah, not great.

But remember how we found out last week that they NEEDED all this money in order to fund the deficit?
Read 7 tweets
Prune60 Profile picture
Sep 17
‼️ Russia: New Moscow Region Migrant Restrictions

“Every foreigner must obtain a special patent to work in Russia”

This law will ban them from receiving patents to work in certain jobs beginning January 2025.

NOTE: Russia has MASSIVE LABOR SHORTAGE

kommersant.ru/doc/7161668

Image
“starting in January 2025, foreigners will be banned from working with patents in the fields of sports, culture, leisure, healthcare and education. The ban will also affect the sale of alcohol and tobacco, street food in non-stationary trading facilities and social services” Image
According to Deputy Chairman of the regional government Natalia Maslenkina:

👉 5,600 patent holders (foreigners)

Will be replaced. Image
Read 17 tweets
Prune60 Profile picture
Sep 16
‼️ “Russian youth need a large-scale construction project on the level of the Baikal-Amur Mainline (BAM), said Natalia Agre, head of the Department of State Policy in the Sphere of Education at the Ministry of Education.”

Um…what?!

moscowtimes.ru/2024/09/16/vpr…
Image
🇷🇺: HAVE MORE CHILDREN, we need more infrastructure!

🙎‍♀️: Didn’t you use Gulag labor to build railroads in the past?

🇷🇺: SO? Why aren’t you pregnant yet?
According to Natalia Agre, “in such a project, young people would be able to see the country, find new friends, meet a loved one and be useful to Russia.”

🤦‍♀️ Image
Read 10 tweets
Prune60 Profile picture
Sep 14
Well, I just found an answer to a question I had.

I’m laughing my 🍑 off about it, but I don’t think most of the other people who would laugh with me are awake 😢
😉 Image
In case your curious where that comes from Image
Read 12 tweets
Prune60 Profile picture
Sep 13
Wow, there has been a lot of disinformation/coping in response to my post about the key rate increase.

Tempted to do a thread of data, but also wonder

1. Would it change anything? I would just be preaching to the choir

2. Would it just turn into the OFZ thread? 😂
This post
One of the responses that was especially funny, was someone claiming that this was good because it would INCREASE liquidity in Russia and attract more investors.

All you that have been following my threads, please gather together and laugh very loudly.
Read 19 tweets

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