Thread by @Prune602

‼️ The Russian Debt Thread: Part 2

(You might want to bookmark this)

If you’re seeing this and don’t know where Part 1….

It’s right here! This is where you want to start 👇

https://twitter.com/prune602/status/1845617033288757662

Back to the NWF. There exists a “Budget Rule”…I’ll be honest, it’s written in legalese, and in Russian. Let’s just say that it was really difficult to decipher while my my kids were running around & thus explaining it would be even more challenging and not really that helpful

Basic version: There is a “Budget Rule” that exists. When it is triggered based on certain rules, it instructs the Ministry of Finance to take funds from Oil & Gas revenue and send it to the NWF to refill the liquid assets of the NWF.

They make a big deal of announcing this

Something like: Ministry of Finance directs Russian Central Bank to buy [insert Ruble amount] of gold & currency to refill NWF due to excess Oil & Gas sales!

🇷🇺: 😃 Take that EVIL WEST! Sanctions don’t work, everything is going GREAT!…but also…🥺please drop them

All this really tells you is that the funds stopped going to the “Federal Income” bucket, and went elsewhere. Because clearly, they are not refilling the NWF.

This is something you might not notice if you saw the information in terms of what it is valued at instead of this form

What actually happens is that the Ministry of Finance makes this grand announcement about buying currency…but then they also separately tell the Central Bank they need to SELL currency in order to spend it elsewhere.

The Central Bank isn’t going pointlessly buy & sell currency. They just look at the ins & outs and maybe decide to reduce the amount of “out” accordingly.

Which, by the way, is one of the many ways that Russia manipulates the exchange rate. Got to prop up the ruble!

https://twitter.com/prune602/status/1745466933133074551

Here is an example of the change…money keeps going out even after the Ministry of Finance makes their big announcements of “refilling the NWF!”

https://twitter.com/prune602/status/1806389485334307011

I’m going to insert where you can find information on this Budget rule.

I could send you to the official Russian Government website for legislation, but the website….it’s a nightmare to try to read or understand things on it, ESPECIALLY big documents.

So here is another website that has the information in a MUCH easier to read format, there are 2 locations to look at.

Chapter 13.2 at this link shows you everything👉 consultant.ru/document/cons_…

And this gives you the specifics 👉 consultant.ru/document/cons_…

😵‍💫 see what I mean. But one thing TO notice is that the Ruble/Dollar exchange rate goes into their calculations of the Budget Rule and that they can and are manipulating that.

So…if money comes out of the NWF to fund PART of the deficit at the END of the year….why is there money coming out of the liquid assets all year long?

Well…🍿😃 Lots of reasons! And EVERYBODY has their hand out!

Let’s start with my favorite…😍

They had to save the Gazprom Ust-Luga LNG plant project. Why?

👉 Because they couldn’t get financing from any else!

Even the Chinese passed on it.

https://twitter.com/prune602/status/1754607743141298295

It is very much within Ukraine’s capabilities to strike it

https://twitter.com/bayraktar_1love/status/1748873538793054510

Remember that Gazprom a majority state owned company. They need it to do well because it is a major source of income for Russian Federal Govt

And Gazprom couldn’t secure external financing, which means ultimately 👉 Russia couldn’t secure financing.

en.wikipedia.org/wiki/Gazprom

Ok, to be fair, a lot of foreign companies HAD to pull out due sanctions. It may or may not have been something they would have chosen to due if not forced.

Here’s where we get into the “Russia Burning Bridges” part.

Russia COULD have recognized that these foreign companies had their hands tied, and they could have parted on amicable terms in order to preserve the relationship…that’s not what Russia did.

I tried to keep a thread for a while explaining what was going on

https://twitter.com/prune602/status/1791896952554066130

But essentially, Russia used the courts to punish these people by seizing their assets.

This is what Russia doesn’t want you to know. They’ll play the victim over their frozen assets going to Ukraine, but they are VERY MUCH seizing other peoples assets.

https://twitter.com/prune602/status/1791896985769005326

What I think is one of the most hilarious things Russia likes to do, is to make a court order declaring that someone can’t take [insert Russian Business, most likely owned by the Russian Government] to court outside of Russia.

😂

Here is an example of the pettiness.

🇷🇺: I hereby ban you from going to another court, when dealing with Russian Railways that is 100% owned by me!

🇫🇮: 🙄….🤔…Hey Estonia!

🇪🇪: Yes?

🇫🇮: Let’s talk some more about our “Lake NATO”

🇷🇺: RUSSOPHOBIA!!!! 🥺 I’m the victim

https://twitter.com/prune602/status/1826741590909747712

Anyway, the court cases related to the Ust-Luga plant became so numerous, I gave up on trying to keep track of them all.

I think eventually, even the Moscow Times just resorted to publishing a list. 😂

Also, I can guarantee that nearly 100% of the time people who complain about the Moscow Times not being in Russia and thus should not be listened to are nearly always trolls.

They never point out WHY they’re not in Russia anymore.

Ultimately what it boils down to is this:

🇷🇺: NEWS THAT I CONTROL IS THE ONLY VALID NEWS RELATED TO RUSSIA, (ignore the fact that I banned all independent media).

That’s what they’re trying to tell you when they complain about the Moscow Times. They’re being disingenuous.

When weighed against other publications in the free world I’d say they are no better or worse. But they can’t write a banger of a headline! 😂

Drives the trolls nuts

To be continued in Part III

Note: I had Part 3 almost done and then it got deleted.

Of all the places to have a “are you sure you want to delete prompt” this would have one been a nice one to have it.

This is what I get for actually try to proofread….and having a “plan”

Here is part 3

https://twitter.com/prune602/status/1845646616260133140