Putin signs decree to prohibit leaving Russia with more than $10,000 in foreign currency

[Wicked Blue]

ASSOCIATED PRESS

Russian President Vladimir Putin on Tuesday signed a decree that prohibits taking more than $10,000 worth of foreign currency in cash and “monetary instruments” out of Russia.

The move comes in response to the crippling sanctions Western nations have imposed on Russia over its invasion of Ukraine, which this week tanked the ruble and sent Russians flocking to banks and ATM in fear for the fate of their savings.

Other measures Putin ordered this week included obligating Russian exporters to sell 80% of their revenues in foreign currency, prohibiting Russian residents from providing nonresidents with foreign currency under loan agreements and from depositing foreign currency into foreign bank accounts.

https://www.msn.com/en-us/news/world/putin-signs-decree-to-prohibit-leaving-russia-with-more-than-10000-in-foreign-currency/ar-AAUu3Ha

10,000 rubles isn't worth enough to buy a bus ticket to Lithuania, I suspect

[BeyondGeography]

1. What a loser

Next time, try pissing off the world with more than $12 billion in your central bank. Asshole.

[C_U_L8R]

2. Sounds like a shakedown.

Will the Oligarchs overthrow or just leave for their yachts to scuba in the Maldives.

[meow2u3]

24. Sounds like someone else we all know and despise

Namely, Cantaloupe Caligula.

[Ocelot II]

3. 10,000 rubles $90.69 - at least for now.

[Wicked Blue]

7. Hmm, that might just cover the bus ticket

and a cup of coffee

[TomWilm]

32. You can get a taxi bus all the way no problem for 90 dollars

[Igel]

11. Putin remembers when owning foreign currency was a crime.

A rather serious one.

My Russian professor was allowed to take a suitcase out of the country--after it had been searched for currency and "national patrimony". He had a small amount of "valyuta" (there's a word I haven't seen or heard for a *long* time ... it means "foreign currency&quot he was allowed to take. And as he left, they took his passport. That is, his means of identification and international travel. Had Hansen passport.

Putin still thinks he's being generous.

[highplainsdem]

5. More and more desperate...

[Sneederbunk]

6. Or a million rubles.

[Wicked Blue]

8. Struggle4Progress just posted the that the ruble is now worth about a penny nt

https://democraticunderground.com/100216426293

[harumph]

9. Will not work.

[uponit7771]

20. Why! You think it'll cause more panic? tia

[WA-03 Democrat]

10. Take it!

Your first loss is your cheapest loss.

It is going to zero. Do as many transaction per day as you can Fuckerburg.

[fierywoman]

12. Except for his oligarch friends.

[Wicked Blue]

13. I have a feeling most of them took their money out of Russia years ago

and hid it by buying London and Manhattan and Florida real estate. And much, much more.

[fierywoman]

18. Oh yeah for sure! I forgot to put in the sarcasm emoji!

[DemocraticPatriot]

14. No more than "$10,000 in foreign currency"

because they already dumped their plunging rubles ??


LMAO this is funny

[AnyFunctioningAdult]

15. The big fish

Are long gone and sitting in hammocks in the Maldives. How soon until all citizens are required to donate all that evil foreign currency to the war effort?

[lindysalsagal]

16. That's robbery. There's no private property? Wonder if

It applies to the ogarchs, too?

[burrowowl]

25. Even in the US

You can't have more than 10,000 cash on you while traveling in or out.

[roamer65]

17. Well, he's definitely brought back the Soviet Union.

A worthless shitbag currency and nothing in stores to buy with it.

[Hekate]

19. Diamonds are forever, though. In places where banks & currency are uncertain, women's jewelry...

… is sometimes the family savings. We’ll see.

[sanatanadharma]

22. Russian citizens are watching authoritative government seal their borders; a right wing dream

Russian citizens are watching the authoritative government seal their borders, with them inside.
As we know, when the Soviet government collapsed, mob-minded strong-men moved in to claim ownership and take the national wealth making them into oligarchs and leaving the soviet of peoples with no commonwealth.

The rich are free to come and go from Russia at will. Only now, they have fewer places willing to receive them.
It is almost like Russian-citizenship is worthless in the world market.
Worthless, valueless to most Russians.
Worth less but still useful to the powerful.

[hueymahl]

23. This is exactly how Cryptocurrency supports freedom

Neither Russia nor any other totalitarian regime has the capability to stop its citizens from transferring their assets via cryptocurrency.

I know there is a lot of hate for crypto on our site, and I understand those arguments. Just wanted to point out that there is a lot of good that comes from it too. It is designed for exactly for this use case.

[sfdennis1]

33. Mixed bag at best

Crypto supports BYPASSING whatever monetary control policies are in place in a given society. I think it's more likely to shield and hide the resources of the already wealthy/connected Putin-alligned class in Russia, rather than help the poor or desperate average Russian citizen trying to save/protect their meager assets. Maybe using crypto isn't worse than being subject to the cratering "traditonal economy"...but there really are no "good options" for those unfortunate ppl, other than Putin's overthrow/demise.

[heckles65]

26. If you have the intelligence of a grapefruit

you can find your way around that.

[heckles65]

27. I found a cartoon illustration from Treasure Chest magazine 1962

It showed Khrushchev handing a sack of money to an impoverished foreigner (with a whip behind his back).

The bag had a "$" sign on it. Why? Because even Nikita Sergeyevich knew you can't bribe a hamster with rubles.

[LiberalArkie]

28. I wonder how many gold bars they can fly out with?

[Grasswire2]

29. What, is he a KING?

Can you imagine Biden signing a "DECREE" limiting Americans from their own money?

[FakeNoose]

30. The smart oligarchs got their money out of Russia years ago

They've been laundering their ill-gotten wealth all over the world ... wherever anybody will take it. They haven't been shy about donating to the Repukes either. I think this decree is for all the "little people" in Russia because it's way too late for the oligarchs who grabbed the real dough.

[Deminpenn]

31. This will only increase panic

imho.

[Linda Ed]

34. A Russian businessman has placed a million-dollar bounty on Vladimir Putin

A Russian businessman has placed a million-dollar bounty on Vladimir Putin as a part of his "moral duty" to bring the Russian president to justice.
Alex Konanykhin, an entrepreneur and former banker that lives in the United States after being granted political asylum. was the "wealthiest person in Russia" in 1992

"Putin is not the Russian president as he came to power as the result of a special operation of blowing up apartment buildings in Russia, then violated the Constitution by eliminating free elections and murdering his opponents," he wrote.
https://www.newshub.co.nz/home/world/2022/03/russian-businessman-alex-konanykhin-places-million-dollar-bounty-on-president-vladimir-putin.html