Thailand May Need to Relay Exports to Russia Through Third Nations

[webfact]

 

by Paul Rujopakarn

    

BANGKOK (NNT) - The Thailand – Russia Business Council (TRBC) has suggested that Thailand may need to export goods to Russia through other countries. The comments came after the United States, European Union, United Kingdom and other nations blocked Swift access for some Russian banks in response to Russia’s invasion of neighboring Ukraine.

 

TRBC Chairman Kriengkrai Thiennukul said Russia was hit with similar measures in 2014 when it annexed Crimea. He noted, however, that goods can still be exported to Russia through nations such as Belarus and China.

 

Kriengkrai nevertheless acknowledged that war between Russia and Ukraine meant higher costs for monetary transactions and logistical operations for exports to Russia.

 

Trade between Thailand and Russia had reached $2.7 billion in 2021, with Thai exports accounting for $1.02 billion. Automobiles and parts were the biggest exports, followed by rubber and latex goods, machinery and parts, and processed fruits.

 

Russian imports meanwhile accounted for 1.7 billion dollars, with crude oil being the most valued commodity. With the war pushing fuel prices higher, the TRBC Chairman said Thailand is likely to see a trade deficit with Russia going forward.

 

-- © Copyright NNT 2022-03-01

 

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[Henk Langeweg]

N-Korea, China or let Russia pick it up.

[WHansen]

The only thing that concerns Thailand is increased export costs.....

[Cake Monster]

That will go down like a Fart in a Spacesuit with those that are employing the sanctions.

 

[smedly]

40 minutes ago, webfact said:

The Thailand – Russia Business Council (TRBC) has suggested that Thailand may need to export goods to Russia through other countries

Ukraine is right next door - don't let the slaughter put you off

[John Drake]

45 minutes ago, webfact said:

The Thailand – Russia Business Council (TRBC) has suggested that Thailand may need to export goods to Russia through other countries.

Evading sanctions. Great way to get sanctions applied to Thailand in response.

[sanuk711]

Send it to China on their new Lao high speed railway........ it will start to pay for its self already.

 

 

 

Edited March 1, 2022 by sanuk711

[sanuk711]

1 minute ago, John Drake said:

Evading sanctions. Great way to get sanctions applied to Thailand in response

Yes I can just see them putting Sanctions on China--who will be sending heaps--- sure they are now busy drawing up planes for that -----NOT

[Willy Wombat]

As said as much yesterday in another thread.

You’re welcome Thailand 

[Enoon]

15 minutes ago, smedly said:

Ukraine is right next door - don't let the slaughter put you off

"Asian Values"

 

Most of Russia lies within Asia.

 

Those who aren't descended from Vikings or Slavs (Slavs themselves being of Asian origin) are descended from Asians.

 

Which takes one a long way towards understanding the "enigma" of the Russian..........character.

 

 

 

Edited March 1, 2022 by Enoon

[cnx101]

Could always take it by submarine, gotta use them for something 

[vivananahuahin]

The problem will be, can Russians pay the import goods?

 

[MrMo]

So Thailand do not give a damn about any other sovereign state's right to exist independently.   As usual we will simply lie our way around the problem.

If Thailand did cease trading with Russia, the country's current trade surplus would increase by over $1+billion as they export less than $1 billion to Russia and import over $2billion.   And then we would get even less Baht for our US$/EU/GBP/A$/what have you.

[RichardColeman]

Probably just weighing the Russian sales and tourists versus the Ukranian ones and to hell with the consequences and suffering

[kingstonkid]

Perfect way to make the U.S. raise y our rating as a  trade partner.  

 

Thailand may gain money from the Russand but they will lose from the EU and N.A. market.

[Zack61]

I’d hate to be in the same foxhole with them and depending on them with my life in a real scrap. 

[Pattaya Spotter]

3 hours ago, John Drake said:

Evading sanctions. Great way to get sanctions applied to Thailand in response.

No trade sanctions have been applied to Russia (Europeans don't want to freeze in their homes or have to shutter their factories for lack of oil and natural gas). They have had their external foreign reserves frozen (for the most part), kicked out of the SWIFT banking network (for now), and the Russian Central Bank and private banks are restricted from using most Western hard  currencies and clearinghouse facilities to conduct international trade and financial transactions. 

 

This will severely impact their ability to both import and export goods and services.

Edited March 1, 2022 by Pattaya Spotter

[Mr Meeseeks]

47 minutes ago, Zack61 said:

I’d hate to be in the same foxhole with them and depending on them with my life in a real scrap. 

From experience, they'd put up a flare to mark your position, wave a white flag and tell the enemy to shoot you to save their own skin. 

[RocketDog]

If I want somebody eliminated but don't want to do it myself because it's illegal, can I hire an assassin?

Do I still retain my honor?

 

Yeah, I didn't think so either.

[keithkarmann]

2 hours ago, cnx101 said:

Could always take it by submarine, gotta use them for something 

No engines in the submarines, could try sailing them.

[IAMHERE]

4 hours ago, smedly said:

Ukraine is right next door - don't let the slaughter put you off

Looks so far like the Russians are dropping like flies. Ukraine claims over 3,500 dead Russian soldiers. Much better body count than the mujahedeen in Afghanistan war.

 

[JBChiangRai]

Nobody should be doing any trade with Russia currently.

 

Putin is not afraid of NATO, or military build up, but we can cut their economy off at its knees and stop their citizens traveling and bring him down that way.

[TallGuyJohninBKK]

5 hours ago, webfact said:

TRBC Chairman Kriengkrai Thiennukul said Russia was hit with similar measures in 2014 when it annexed Crimea. He noted, however, that goods can still be exported to Russia through nations such as Belarus and China.

 

 

Kinda sounds like a Thai based business association is recommending locals evade sanctions imposed by some of their largest trading partners (U.S., Europe, Japan, etc.)

 

Hopefully, if they try any such stunts, the exports involved end up getting seized before they reach their destination, and the senders sanctioned.

 

[placnx]

1 hour ago, Pattaya Spotter said:

No trade sanctions have been applied to Russia (Europeans don't want to freeze in their homes or have to shutter their factories for lack of oil and natural gas). They have had their external foreign reserves frozen (for the most part), kicked out of the SWIFT banking network (for now), and the Russian Central Bank and private banks are restricted from using most Western hard  currencies and clearinghouse facilities to conduct international trade and financial transactions. 

 

This will severely impact their ability to both import and export goods and services.

There are sanctions on sales of chips and American technology/software incorporated in Western products.

[AussieinThaiJim]

You have got to be joking , exports thru 3rd parties! The rest of the world want NO War! Good luck getting paid!

[sandyf]

27 minutes ago, JBChiangRai said:

Nobody should be doing any trade with Russia currently.

 

Putin is not afraid of NATO, or military build up, but we can cut their economy off at its knees and stop their citizens traveling and bring him down that way.

That may not be as easy as some seem to think, Russia could have been working up to this for a long time, there had to be something behind the BRICS formation.

 

https://en.wikipedia.org/wiki/BRICS

 

According to Reuters, the Russian official says that a BRICS payment system would encourage payments in local currencies and pin down sustainable investment among the five countries.

Dmitriev adds that the share of the US dollar in Russian foreign payments has fallen from 92% to 50%, while the rouble has risen from 3% to 14%.

https://www.fintechfutures.com/2019/11/brics-nations-aiming-for-common-payment-system/

[Mavideol]

2 hours ago, vivananahuahin said:

The problem will be, can Russians pay the import goods?

 

yes,  agree, delivery shouldn't be a problem by paying the middle man (China) and goods will get there but getting paid would be the big dilemma, Russia money is not worth the paper it's printed on

 

[trainman34014]

Bearing in mind the Cars are all Japanese Makes and the Japanese have cut off the Russians as well it is more than possible that the Car Exports will be banned by Japan.  Also; with the Rouble shot to bits why would they want to order large consignments of anything; especially if they are going to have to pay more for 'middle countries' to handle Transhipments ?   I see Exports from La La Land drying up completely in the coming weeks.

[kimamey]

5 hours ago, John Drake said:

Evading sanctions. Great way to get sanctions applied to Thailand in response.

Well they'd deserve it I think

[Paul Henry]

Thailand! SHAME! SHAME ! SAME. Ignorance is no excuse.Where is your MORAL backbone.. Money above all else.