Phuket Living Just Got A Lot More Expensive For Our Russian Neighbors

[Pattaya Spotter]

The "Rubble" lost about ¼ of its value today!

 

Edited March 1, 2022 by Pattaya Spotter

[darksidedog]

I noticed when in the bank on Friday that they were not offering any exchange on the rouble in cash or travellers cheques either, so going to be difficult as well as expensive.

[RichardColeman]

10 minutes ago, Pattaya Spotter said:

The "Rubble" lost about ¼ of its value today!

Yeah, but I sure bet those Russians feel a lot safer queuing for their money than the Ukrainians huddled in bomb shelters whilst the psycho Putin does his squat thrusts and orders illegal cluster bombing !

[Pattaya Spotter]

2 hours ago, darksidedog said:

I noticed when in the bank on Friday that they were not offering any exchange on the rouble in cash or travellers cheques either, so going to be difficult as well as expensive.

Maybe some distress condo and house sales soon in Phuket and Pattaya (on top of the Covid discount) ????

Edited March 1, 2022 by Pattaya Spotter

[Cake Monster]

2 hours ago, darksidedog said:

I noticed when in the bank on Friday that they were not offering any exchange on the rouble in cash or travellers cheques either, so going to be difficult as well as expensive.

For a short time there will be little problem, but as time progresses, there will be all kinds of issues in getting Finance from Russia to those living abroad.

Swift, and now Mastercard Etc are all now being asked to Sanction Russia

[NJHOUSE]

Do you really think wealthy Russians, even those with decent money, keep their wealth in rubles? Let me help you.... No, they don't.

[beechbum]

4 hours ago, darksidedog said:

I noticed when in the bank on Friday that they were not offering any exchange on the rouble in cash or travellers cheques either, so going to be difficult as well as expensive.

Good ????

[Pattaya Spotter]

3 hours ago, NJHOUSE said:

Do you really think wealthy Russians, even those with decent money, keep their wealth in rubles? Let me help you.... No, they don't.

No matter where or what currency they keep their money and assets in, it will be hard to access or convert them with the Western banking sanctions now in place.

[mtls2005]

Russian Ambassador meets with Phuket officials, discusses establishing a sister city

 

Impeccable timing!

 

The Russian Ambassador to Thailand met with officials in Phuket to discuss establishing Russia’s Kamchatka Krai Administrative Region as a sister city and other matters that affect the roughly 8,000 Russian citizens on the island. Vice Governor Pichet Panapong says Thai authorities are in the process of reviewing the Memorandum of Understanding with the region, adding that it is being handled by the Treaty Department of the Ministry of Foreign Affairs and Ministry of Interior.

Ambassador Evgeny Tomikhin also discussed plans for a new Muay Thai camp in Phuket. Information on the meeting released by Phuket’s public relations department says that the boxing camp can be constructed on the island as long as permission is granted by Phuket officials.

 

https://thethaiger.com/news/phuket/russian-ambassador-meets-with-phuket-officials-discusses-establishing-a-sister-city

[Pattaya Spotter]

1 hour ago, mtls2005 said:

 

The Russian Ambassador to Thailand met with officials in Phuket to discuss establishing Russia’s Kamchatka Krai Administrative Region as a sister city

He should discuss how the 8k Russians in Phuket will finance their stay now that their rubles are rubble and their Russian bank accounts are effectively frozen!

[ThailandRyan]

21 hours ago, Cake Monster said:

For a short time there will be little problem, but as time progresses, there will be all kinds of issues in getting Finance from Russia to those living abroad.

Swift, and now Mastercard Etc are all now being asked to Sanction Russia

Amex just shut off the Russian Banks as well...so any of the Russian expats who use cards will be locked out of them as well.  

[mokwit]

21 hours ago, NJHOUSE said:

Do you really think wealthy Russians, even those with decent money, keep their wealth in rubles? Let me help you.... No, they don't.

They don't keep it in Russia either.

[beechbum]

On 3/1/2022 at 11:48 AM, NJHOUSE said:

Do you really think wealthy Russians, even those with decent money, keep their wealth in rubles? Let me help you.... No, they don't.

Let me help you...its irrelevant where they keep it if they're being targeted.

[stevenl]

On 3/2/2022 at 9:04 AM, mokwit said:

They don't keep it in Russia either.

They invest in yachts. Must be some very unhappy people now, https://www.theguardian.com/world/2022/mar/03/germany-seizes-russian-billionaire-alisher-usmanovs-600m-superyacht-report

[Old Croc]

On 3/2/2022 at 1:42 PM, beechbum said:

Let me help you...its irrelevant where they keep it if they're being targeted.

Historically, Russians launder their money in the small EU states of Malta and Cypress. Corruption abounds on these Islands.

The latter is colloquially known as "Moscow in the Med".  Many have bought "golden" passports (citizenship) from these countries.

 

Under pressure from the EU and US this is changing.

[Sunderland]

BREAKING: Russia's largest airline, Aeroflot, cancels all international flights from March 8.

 

So anyone flying with Aeroflot has 3 days to leave Thailand or risk being stuck and then detained at the pleasure of Thailand's immigration police for overstaying their visa.

 

 

[Pattaya Spotter]

12 hours ago, Sunderland said:

BREAKING: Russia's largest airline, Aeroflot, cancels all international flights from March 8.

 

So anyone flying with Aeroflot has 3 days to leave Thailand or risk being stuck and then detained at the pleasure of Thailand's immigration police for overstaying their visa.

 

 

Or fly out on another airline or apply for an extension of stay. 

[Pattaya Spotter]

Well I guess international travel is out for awhile...hope all the local Ruskies have Thai bank credit cards on hand...

 

Mastercard and Visa Suspend Operations in Russia

 

https://www.nytimes.com/2022/03/05/world/europe/mastercard-visa-suspend-operations-russia.html

[Will B Good]

I have little doubt that these sanctions against the big money boys are little more than an annoyance to them.

 

Someone with $500,000,000, losing half of his wealth, is still incredibly wealthy.

[tonray]

4 minutes ago, Will B Good said:

I have little doubt that these sanctions against the big money boys are little more than an annoyance to them.

 

Someone with $500,000,000, losing half of his wealth, is still incredibly wealthy.

500 Million...one guy has a yacht that cost 600 million alone ! How the Russian people can't see how theyv'e been robbed blind by these guys is amazing

[Will B Good]

3 minutes ago, tonray said:

500 Million...one guy has a yacht that cost 600 million alone ! How the Russian people can't see how theyv'e been robbed blind by these guys is amazing

Frightening.......but say anything and you just become another Navalny

[DFPhuket]

While there are going to be very few (if any) direct flights, there are still several carriers that fly to Russia with a stopover via their hubs (e.g., the Middle Eastern carriers). 

 

But the bigger issue is obviously getting money, especially if they don't have bank accounts outside of Russia. Hotels typically use a credit card hold to assure they will be paid. Will hotels now say to Russians, "Sorry, but can you stop at the desk today and hand over cash to pay for your full stay?" I can't imagine the difficulties of being on a holiday without a working credit card and being unable to access cash. 

[pagallim]

1 hour ago, Pattaya Spotter said:

Or fly out on another airline or apply for an extension of stay. 

The second largest Russian airline (and the largest private one), S7 has grounded all of its international flights.   It was the primary Russian airline servicing Phuket.   Going to be interesting indeed how the thousands of Russians that are currently here (they are the largest demographic group amongst tourists that have arrived in Thailand this year) are going to get home.   I foresee some humanitarian flights in the not too distant future.

 

I also see that Phuket Immigration has announced a visa extension of one month for all Russians if requested and a letter issued by the Russian Honorary Consul in Phuket.   This extension is alsos available for all Ukrainian tourists, though they will get an email from their Consul to give to Immigration.

[Will B Good]

19 minutes ago, pagallim said:

 I foresee some humanitarian flights in the not too distant future.

To Russia or from Russia?

[Pattaya Spotter]

40 minutes ago, pagallim said:

The second largest Russian airline (and the largest private one), S7 has grounded all of its international flights.   It was the primary Russian airline servicing Phuket.   Going to be interesting indeed how the thousands of Russians that are currently here (they are the largest demographic group amongst tourists that have arrived in Thailand this year) are going to get home.   I foresee some humanitarian flights in the not too distant future.

 

I also see that Phuket Immigration has announced a visa extension of one month for all Russians if requested and a letter issued by the Russian Honorary Consul in Phuket.   This extension is alsos available for all Ukrainian tourists, though they will get an email from their Consul to give to Immigration.

Just like during Covid...accommodation for Russians and Ukrainians will have to be made by the Thai authorities during this extraordinary period. 

[stevenl]

2 hours ago, Will B Good said:

I have little doubt that these sanctions against the big money boys are little more than an annoyance to them.

 

Someone with $500,000,000, losing half of his wealth, is still incredibly wealthy.

Losing half of a billion would be more than an annoyance I presume. They invested a lot of money in prestige objects like houses, yachts, football clubs. They are losing their prestige.

[tonray]

7 minutes ago, stevenl said:

Losing half of a billion would be more than an annoyance I presume. They invested a lot of money in prestige objects like houses, yachts, football clubs. They are losing their prestige.

They are in a mad dash to sell their US and Euro real estate. Likely buried in holding companies for privacy, before the west seizes these assets.

[ThailandRyan]

1 hour ago, Pattaya Spotter said:

Just like during Covid...accommodation for Russians and Ukrainians will have to be made by the Thai authorities during this extraordinary period. 

Lets just hope they keep it real and civil and make it across the board and not just for one group over another since they want to remain neutral.

[KarenBravo]

3 hours ago, tonray said:

500 Million...one guy has a yacht that cost 600 million alone ! How the Russian people can't see how theyv'e been robbed blind by these guys is amazing

They have.......years ago. It's just that they are powerless to do anything.

[beechbum]

Well if they don't make their foreign debt payment or they trying paying it in rubles they'll be well and truly f#@&ed...

Mad Vlad certainly is gonna leave his mark in the history books!

Edited March 16, 2022 by beechbum