• Hathaway@lemmy.zip
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    1 year ago

    Ah yes, we should definitely believe Russian reports of how rich Russians are. Damn, I’ve seen a lot of articles like this recently. It must be really ugly for Russia if they’re trying to convince us it’s bad for us when we’re not at war lmfaooooo

  • TrudeauCastroson [he/him]@hexbear.net
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    1 year ago

    What does the lower exchange between the ruble and the dollar mean then? The ruble is worth less dollars than before.

    UBS (a Swiss bank) doesn’t really have reason to lie about the wealth increase. Is the exchange rate thing just because rubles are less useful internationally because sanctions?

    The US has inflation, and if the ruble is worth less dollars then that means Russia has even more inflation.

    Obviously all our media wants to paint a picture of Russia doing terribly, but I wonder what the actual picture is. All the companies that left Russia left behind all their shit for Russia to use which if anything helps them keep more production in their own borders.

  • atlasraven31@lemm.ee
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    1 year ago

    Ya’ll can’t even pay russian border guards to keep out other russians, let alone Ukrainian saboteurs.

  • AutoTL;DR@lemmings.worldB
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    1 year ago

    This is the best summary I could come up with:


    Russians got richer last year even as the war in Ukraine raged on, while the US and Europe lost trillions of dollars, UBS reported.

    There were also 1 million fewer American millionaires by the end of 2022,  although the US still accounted for over 50% of the world’s ultra-high-net-worth individuals, the bank said.

    UBS acknowledges that “wealth trends in Russia are difficult to determine at this time,” but did highlight it as one of a handful of countries that had gotten richer in 2022.

    Rising oil prices could be one factor behind the wealth increase, with exports of the commodity a key economic engine for Russia.

    The cost of a barrel of benchmark Urals crude jumped by about $7 last year, data from Refinitiv indicated.

    Mexico, India, and Brazil all also added significant amounts of wealth in 2022, UBS’s report suggested, while the US, Japan, China, Canada, and Australia lost the most.


    I’m a bot and I’m open source!