Thai companies have a moral decision to make

[webfact]

File photo

 

By Michael Bridge

 

The Russian government issued last week a list of countries "taking unfriendly actions against Russia, Russian companies, and citizens," referring to the economic sanctions introduced amid the Russia-Ukraine war.
 
According to a decree published on the government's website, the list includes Albania, Andorra, Australia, Great Britain, including Jersey, Anguilla, British Virgin Islands, Gibraltar, EU member states, Iceland, Canada, Liechtenstein, Micronesia, Monaco, New Zealand, Norway, South Korea, San Marino, North Macedonia, Singapore, US, Taiwan, Ukraine, Montenegro, Switzerland, and Japan.
 
Vietnam, Thailand, Cambodia, Laos, and the Philippines from SE Asia were not on this list.

 

Where to now?

 

Now we know that in the past there were many Thai companies, especially in the hospitality sector that did a large amount of business with Russians.

 

Thailand has always been a trade partner with Russia.

 

Back in 2019, Thailand exported $1.13B to Russia. 

 

The main products that Thailand exported to Russia were Cars ($173M), Vehicle Parts ($83.9M), and Rubber Tires ($73M).

 

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Crude oil was Thailand’s biggest import from Russia last year followed by coal and gold.

 

Luckily, most of Thailand's crude oil and condensates are from offshore fields in the Gulf of Thailand.

Natural gas fuels 60–65% of Thailand's electrical power generation. The Erawan gas field in the Gulf of Thailand supplies about 20% of Thailand's gas production. 

 

Thailand imported the LNG from seven suppliers in October, with Australia and Malaysia being the largest sellers. 

 

The Southeast Asia nation imported 5.36 million mt of LNG in the first 10 months, up 9.8% year on year, from Qatar, Malaysia, and Nigeria. 

 

The Thai government does not rely too much on Russia for its energy however continuing to export cars could see European countries along with the USA could end up with expensive sanctions that the country can ill afford.

 

The next few months may see some major policy decisions needing to be made by both private sector along with the Thai Government.

 

-- © Copyright  ASEAN NOW 2022-03-17

 

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[daveAustin]

Thai companies have a moral decision to make
 

Money number one ????

[TooMuchTime]

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

[IAMHERE]

Can these Thai companies use their Morals; not the Morals dictated by Crist and the western authorities ?  

[CharlieH]

Those cars look like there from the 80's !

 

There are no morals  where money or much else is concerned.

[jacko45k]

2 hours ago, TooMuchTime said:

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

I do  not recall any attacks on Russian soil.....

[realfunster]

Thai companies have a moral decision to make

 

That’s it, we are <deleted> then.

[itsari]

2 hours ago, TooMuchTime said:

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

Not many countries are innocent of any wrong doing . 

Let the corrupt leaders of Russia and Ukraine fight it out is your answer to a problem that involves innocent people and the financial stability of the world including Thailand with high energy prices . 

You may be right yet I have to disagree with you even with the lack of knowledge you claim to have .

 

[BB1955]

I doubt Russia will be buying much of anything for a while . 

[CartagenaWarlock]

4 hours ago, webfact said:

The Thai government does not rely too much on Russia for its energy however continuing to export cars could see European countries along with the USA could end up with expensive sanctions that the country can ill afford.

I don't think so. USA has already given green light to India to import Russian oil at discounted prices and said it won't violate any sanctions but India will be on the wrong side of history. USA is not going to punish anybody doing trades with Russia unless they specifically say not to do so. When USA gives green light, no other countries can dare to say anything else. 

[hotchilli]

4 hours ago, daveAustin said:

Thai companies have a moral decision to make
 

Money number one ????

Thai companies... morals... ????

[mikebell]

58 minutes ago, realfunster said:

Thai companies have a moral decision to make

This is an oxymoron; Thai business and morals should never be linked.

[mtls2005]

Sanctioned Russia teeters on brink of historic default

 

LONDON, March 16 (Reuters) - The economic cost of Russia's assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.

 

Moscow is due to pay $117 million in interest on two dollar-denominated sovereign bonds it sold in 2013. But the limits it now faces in making payments, and talk from the Kremlin that it might pay in roubles - triggering a default anyway - has left even veteran investors guessing at what might happen.

 

https://www.reuters.com/business/finance/sanctions-savaged-russia-teeters-brink-historic-default-2022-03-16/

 

 

 

Edited March 17, 2022 by mtls2005

[smutcakes]

Given PTT just gleefully took over TOTAL's fields in Myanmar as they pulled out, i find it hard to believe they have a moral compass.

PTT issued a statement saying that they wanted to protect the provision of energy to the Myanmar people and suggested their motives were purely altruistic.

 

Given this is a State Company, i find it difficult to believe that many will have the 'moral' compass to do anything about Russia which is much further away.

[alanrchase]

I suppose they face the same moral dilemma as the US and UK companies that are still operating in Russia.

[animalmagic]

4 hours ago, TooMuchTime said:

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

Countries are not immoral, corrupt or guilty; neither are their entire populations.  Immorality, corruption and guilt start at the top when Governments abuse the people's love of their country for their own particular agenda.  Often stoked by lies and propaganda to trick their own people.  Countries do not start wars or invade other countries people do.

As for letting God sort it out it seems strange that this all powerful and omniscient being always seems powerless and ignorant of all the immorality, corruption and guilt in the world.  To the best of my knowledge the people of both countries worship at the same church!

[Mr Meeseeks]

2 hours ago, IAMHERE said:

Can these Thai companies use their Morals; not the Morals dictated by Crist and the western authorities ?  

You are assuming they have morals. 

[Mr Meeseeks]

43 minutes ago, smutcakes said:

Given PTT just gleefully took over TOTAL's fields in Myanmar as they pulled out, i find it hard to believe they have a moral compass.

PTT issued a statement saying that they wanted to protect the provision of energy to the Myanmar people and suggested their motives were purely altruistic.

 

Given this is a State Company, i find it difficult to believe that many will have the 'moral' compass to do anything about Russia which is much further away.

I was about to mention this. ????

 

You only have to look at how many Thai women sell their bodies to understand concepts of morality here, if there are any.

 

Money Number One. 

[huangnon]

4 hours ago, TooMuchTime said:

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

Exactly. Where was all the self-righteous outrage and virtue signalling when the sovereign invasions and regime-changes in Iraq, Afghanistan, Libya, etc. happened?

Mainstream media called it "liberation" and no one blinked an eye.

[Iamfalang]

4 hours ago, TooMuchTime said:

What moral dilemma?

 

People actually think Ukraine is some innocent country?  I guess those who only watch TV and follow the latest trends do.  Two corrupt countries at war is nothing to be involved with.  Let God sort those two out.

Prison rape, death, gang murders, and killing kids because their parents are bad.   Murder old people and pregnant women because a Thai poster said their country is corrupt.

 

What country isn’t corrupt??   Tell God to start killing!

[Colabamumbai]

6 hours ago, daveAustin said:

Thai companies have a moral decision to make
 

Money number one ????

Human life the least of concerns. 

[Mr Meeseeks]

Just now, huangnon said:

Exactly. Where was all the self-righteous outrage and virtue signalling when the sovereign invasions and regime-changes in Iraq, Afghanistan, Libya, etc. happened?

Mainstream media called it "liberation" and no one blinked an eye.

They were all ruled by dictators or extremists. Ukraine is a fledgling democracy bordered by, guess what? Another dictatorship.

 

I'm sure the rest you can figure out for yourself. 

[TooMuchTime]

3 minutes ago, huangnon said:

Exactly. Where was all the self-righteous outrage and virtue signalling when the sovereign invasions and regime-changes in Iraq, Afghanistan, Libya, etc. happened?

Mainstream media called it "liberation" and no one blinked an eye.

Edited March 17, 2022 by TooMuchTime

[Will B Good]

2 hours ago, jacko45k said:

I do  not recall any attacks on Russian soil.....

Funnily enough I was going to raise that issue.......presumably Ukraine has the capabilities to bomb a major city, if not Moscow?......or are Russia's air defences so strong it would be a suicide mission.

 

I have not seen any discussion in the press.......but it does seem a conscious decision has been made not to bomb. 

[Karma80]

No need for a moral decision. How exactly in any practical sense can you do business? How do you collect payments, how do you sent goods there and can Russian companies even afford to import?

[tonray]

3 hours ago, IAMHERE said:

Can these Thai companies use their Morals; not the Morals dictated by Crist and the western authorities ?  

This is not to be understated. Thai Buddhist principles are vastly different than Western Judeo/Christian ethics. It may not be immoral in some cases to do what is considered a 'wrong' if there is a belief that it leads to a greater good (making merit) in the future...or even more simply, Thai Buddhism allows one to make merit in this life to clean up all your messes. 

Edited March 17, 2022 by tonray

[Will B Good]

2 minutes ago, tonray said:

This is not to be understated. Thai Buddhist principles are vastly different than Western Judeo/Christian ethics. It may not be immoral in some cases to do what is considered a 'wrong' if there is a belief that it leads to a greater good (making merit) in the future...or even more simply, Thai Buddhism allows one to make merit in this life to clean up all your messes. 

Sounds just like Catholicism. 

[KhunLA]

They have a moral obligation to feed their families also.  Countries, people & morality ... that's funny.

 

I see a lot of countries drawing the line on their morality, still buying RU energy; oil & gas.  

[Cake Monster]

11 minutes ago, Karma80 said:

No need for a moral decision. How exactly in any practical sense can you do business? How do you collect payments, how do you sent goods there and can Russian companies even afford to import?

Already their are possible moves to circumnavigate the Sanctions place upon Russia, its Citizens, and Companies by certain Countries.

They are trying to engage Chinese Payment channels such as CIPS and others to get their payments made for goods sent via the Country into Russia.

Not a wise thing to do me thinks.

[huangnon]

25 minutes ago, Mr Meeseeks said:

They were all ruled by dictators or extremists. Ukraine is a fledgling democracy bordered by, guess what? Another dictatorship.

 

I'm sure the rest you can figure out for yourself. 

No. They were all deemed to be "dictators" and "extremists" as they wanted to trade oil (and other commodities) in other currencies than the USD, and not be controlled by debt. Yet, countries like Saudi Arabia, with horrendous human rights, and the very antithesis of any "democracy" is perfectly okay.