U.S. Sanctions are firing back on Uncle Sam!

Recently and subsequent to the Russian limited military action in Ukraine, US had led a sanctions ally with Europe and some other countries, in order to curb the Russian economical powers to sustain the war in Ukraine.

The sanctions scoped on deterring Russia from SWIFT system in order to refrain Russia from gas revenues from Europe, rerouting Russian flights outside of Europe and the list is prolonged. The question is, what was Russia response to that? we are trying to brief this in the coming lines.

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In response to that, Kremlin had decided a list of what he called as "Unfriendly Countries" who are involved in the sanctions against Russia on the back of the military action in Ukraine, Kremlin continued by giving a limited period of time to get off these sanctions or otherwise he would be dealing with the Russian Rubles in all in/out transactions and the time was up this Friday, said Kremlin spokesman "Dmitry Peskov!"

Not only this, Putin had announced that, Russia, India and China, formed another opponent ally who would switch the use of US dollars to there local currencies in international transactions. Adding to that, Putin said Russia would cut-off gas supplies if buyers don't agree to the new conditions, including opening ruble accounts.

Islamic Republic of Iran, who had suffered for years of the US sanctions and had turned into an expert in by-passing the detrimental effects of those sanctions by deploying the ancient Barter system or using agents instead of direct dealing, while those routs were too expensive, rather than using the local currencies

Iran now is offering to Russia to topple the US dollars and deal with their own local currencies. Toman (10 IR Rials) against the Ruble. Additionally, India had doubled the intake from the Russian gas and crude oil to support Russian economy.

"Hold on Mr. Vladimir :) those countries aren't the whole world, what about the position of the rest of the world?"

Well, major part of the world are against those sanctions in order to break the US overwhelming and the unipolar system since 1992, in Asia, rather than Russia, many countries have refrained from voting against Russia, i.e. China, India, Malaysia, KSA, UAE and Pakistan.

In Africa, most of the continent are in denial in addition to Senegal who had withdrawn its ambassador for discussion from Ukraine, denying the provocative use of Senegalese as a mercenaries in the current war. In Latin America, Brazil (major foot print of the continent) and Venezuela are also denied any voting against Russia.

Even in Europe and I'm quoting from the Hungarian PM, Mr. Magyarország Minisztereln?ke, "Ukrainians should not ask us to have a complete lock down to our country to support them". According to the PM still, applying inward charges on Russian gas, would eventually lead to a complete lock down of the country and more cold in Hungary, which we could not persist.

Russia in applying this decision have declared to the European countries, it would accept Euros instead of Rubles via "Gazprom Bank" who would save the Euros into Rubles. Whereas, Russia will use Rubles as well in paying off purchases or renting of aircrafts.

The German government is currently examining this decree to determine its full effect, while initially German officials said contracts stipulate payment for gas in euros or dollars and that must continue.

Globally, strikes are shown in some countries like Greece, Brazil and UK against inflation, supply shortage and rising unemployment rates subsequent to the war, while experts are forecasting extreme shortages in the supply chains due to the war coupled with the COVID situation in China recently.

EBRD foresees 10% diminishing in the Russian economy against a 35% diminishing in the US economy according to Goldman Sachs. Whereas, Ruble gained a considerable marks approaching back to levels previous to war based on the latest decision by Russia in a major political hit to US since the war began.

All countries are trying to have a seat on the new table of putting their local currencies in barter rather than the US dollars. Egypt had took the initiative since 2 years back, when Egypt and China exchanged a value of US 6 Bn. of trade with China in local their currencies too.

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