Banana7

What action is the Thai government taking against Russia for invading Ukraine? What Russia has done, is illegal by international law, immoral and unacceptable politically. Even Sweden is sending anti-tank missile Ukraine to help, even Switzerland is adopting the same sanctions as the European Union against Russia. What has Thailand done? Nothing but talk. Absolutely shameful.

Reuters reports that MasterCard and Visa are complying with sanctions against Russia. I am guessing Russian based MasterCards and Visa cards are no longer working. I wonder if some Russians will be going home early?

There are reports that Visa and MasterCard are blocking Russian transactions. see here: https://www.reuters.com/business/mastercard-blocks-multiple-russian-financial-institutions-network-2022-03-01/

XE.com quoted 1.00 US Dollar =105.82806 Russian Rubles 1 RUB = 0.00944929 USD this is at Mar 1, 2022, 06:08 UTC. Maximum transfer is USD$200. Huge line-ups in Russia to get hard currency, reported by many news agencies. Moscow stock exchange did not open on Monday Feb. 28, 2022. In Bangkok, some exchanges are offering 0.25 baht for a ruble. I wonder where it will be in a week from now?

It's already less than 1 cent USD today, and heading lower. New York market hasn't opened for Monday Feb. 28 yet. From xe.com 1.00 US Dollar = 101.14369 Russian Rubles 1 RUB = 0.00988692 USD

Be careful with that strategy. They may re-value the current ruble, and then issue a new ruble which will require 1,000 old for 1 new. They have done it in the past. Interest rate in Russia went from 9.5% to 20% today.

My reading was earlier in the day at 14:00 yours is 15:00, so it's getting worse.

You are right, it's very early to see the full impact on the Russian ruble. After a decision is made, its not an instantaneous process to invoke and change processes. It takes time to re-program and test the money transfer computer systems. Also Russia had substantial foreign reserves and gold, which will be used to prop up the RUB. New York market hasn't opened for Monday Feb. 28 yet. Some countries are late to make the decision to impose sanctions; like South Korea and Singapore. I estimate in 10-20 days we'll see a substantial portion of the impact of these new sanctions. Also the Bank of Russia has increased interest rates from 9.5% to 20% per annum. “The Bank of Russia will assess the feasibility of opening trading on other markets, depending on the development of the situation,” the statement said, adding that a decision on whether to open up the floor to other markets would be made at 1 p.m. local time (5 a.m. ET), with trading starting no later than 3 p.m. local time (7 a.m. ET). The United Kingdom will immediately impose more sanctions against Russia, banning British entities from undertaking financial transactions involving the Russian Central Bank, the Russian National Wealth Fund and its Ministry of Finance, the government said in a statement Monday. London will make further designations this week, the statement said. The measures — enacted in concert with the United States and European Union — will prevent the Russian Central Bank “from deploying its foreign reserves in ways that undermine the impact of sanctions imposed” by the UK and its allies, and will "undercut its ability to engage in foreign exchange transactions to support the Russian rouble,” the statement said.

Air quality readings here in Pattaya are 140 US AQI, unhealthy for sensitive groups. The smog is very thick from beach road to Koh Larn island, can barely see the island. Thankfully, the winds have changed direction and are now from the southwest, dispersing the plume of smog rising from Bangkok.

Russian Central Bank

Today, February 28, 2022: The Russian Central Bank introduced a “temporary ban” on sell orders from foreign legal entities and individuals, it added in a statement. Trading will only be allowed on the foreign exchange market, currency market and the repurchase agreement, or "repo" market. “The Bank of Russia will assess the feasibility of opening trading on other markets, depending on the development of the situation,” the statement said, adding that a decision on whether to open up the floor to other markets would be made at 1 p.m. local time (5 a.m. ET), with trading starting no later than 3 p.m. local time (7 a.m. ET).

No. Russians can stay and try to spend their Rubles, preferably their USD and Euros. Some currency exchanges are no longer accepting rubles. Many Russians don't support Putin's actions in Ukraine. If the news media in Russia would tell the truth about the invasion, I doubt Putin would have 50% support for the invasion. There is a very high possibility that Russian credit cards will stop working in Thailand on Monday or Tuesday.

Wait until Monday or Tuesday to really see what happens to the Russian ruble throughout the world. TT was very smart to stop accepting it. Sergei Aleksashenko, a former deputy chairman of Russia’s central banks, said “there is going to be a catastrophe” on the Russian currency market on Monday. “I think they will stop trading and then the exchange rate will be fixed at an artificial level just like in Soviet times,” he added. See more details here: https://www.theguardian.com/world/live/2022/feb/27/russia-ukraine-latest-news-missile-strikes-on-oil-facilities-reported-as-some-russian-banks-cut-off-from-swift-system-live There is a high probability that Russian ATM and credit cards will stop working on Monday or Tuesday.

Lots of cheap talk and no action, typical Thai solution. At least remove all Russian products, especially vodka, from Thailand.

Germany and France were the 2 that would not allow Ukraine to join NATO in the Bush era.

That's is somewhat what Thailand did in the second world war. They were with the Japanese until it became clear that Japan would lose, then switched sides

Russian rubles are no longer accepted at some exchange booths. If you have an rubles, best to dump them as fast as possible. See here:

Some Russians in Pattaya, or others with Russian rubles, will be suffering since some exchange booths/houses are no longer accepting rubles.

Confirmed, Russian ruble at the exchange booths is no longer accepted in Pattaya at TT exchange.

Looks like the TT guys are quite smart, acting quickly. Here's an article explaining where Russian economy is headed. https://www.msn.com/en-gb/money/other/analysis-russias-economic-defences-likely-to-crumble-over-time-under-sanctions-onslaught/ar-AAUh8zX

It means you'll have to find other money changers to change rubles into baht. TT has many exchange booths but there are only a few competitors in Pattaya. Maybe try a bank exchange booth. Some exchange houses in Bangkok are still accepting rubles, but maybe not for long.

Looks like Russian rubles are no longer being accepted at TT exchange booths in Pattaya. Best to dump all rubles elsewhere before others follow.

I have a toyota hilux sat nav from the factory. The installed map is missing many highways, and often shows me driving in the ocean or in a field. Even highways that have existed for more than 5 years weren't in it. Went to Toyota to get it updated, and they didn't have any update. Consequently, I was routed onto gravel roads when there was paved road, much shorter and faster. The issue using google maps is that it needs data service. My phone provider doesn't provide data in many locations, so the tracking stops. I even download the maps onto the phone, but the search feature, and other features, don't work, if there is no digital signal. Also, it is not full featured like a good garmin gps. You can't set things like fastest route versus shortest route, or avoidances like toll roads, etc. etc. So now I use Garmin GPSs, and old Nuvi 1390 and a new drivesmart 65, using thailand maps purchased from Shopee or lazada. The maps for the 1390 are very good and up-to-date. Drivesmart maps are less detailed, but the gps is very fast and is voice controlled, and provides excellent routing.

Today, as a result of invasion of Ukraine, gold is surging upwards, it is almost certain that equities will go in the opposite direction, as markets open. On Thursday, U.S. equity futures were down about 2 per cent and European futures down by about 3 per cent. US treasury yields down, from 1.6% to 1.5%, flight to safety. Russian Ruble is plunging, more than 80 for US$1. Bitcoin and all crypto plunging as at 5PM Thailand time. BTC US$35,541.20 -4.64% EOS $ 1.93 -8.53% ETH $ 2,388.42 -7.47% XRP $ 0.6408 -7.96% BCH $ 268.88 -6.77%

Oil prices are US$100 early Thursday morning. Shortly before dawn European time, Brent crude, the international benchmark, was up 4.4 per cent, and rising fast, taking it to more than US$101 a barrel, a new 52-week high. West Texas Intermediate benchmark, were up by a similar amount, as were natural gas prices. Expect to pay more for all petroleum related products in the very near future.