Another interesting development is that just a few days ago both Boeing and Airbus announced they would stop maintaining their airplanes in Russia, and would no longer service or sell spare parts to that country either. And Boeing has 334 jets , Airbus 304, that's 2/3 of all of Russia's commercial airliners. Thomas Friedman comments about this development.
*"Russia spans 11 time zones. If this persists, the grip of the Russian central government over the Russian landmass could begin to loosen. In the Russian Far East there are a lot of cities closer to Beijing than Moscow. Just saying …"* China might conclude that a Russia that has been economically weakened might not necessarily be a bad thing for them, and so they might not be all that eager to buy oil and gas from Russia. And there is more, the Russian stock exchange is still closed but in London the shares of Sberbank, Russia's largest bank, were trading at $14 a share as recently as Wednesday, but today the price has fallen more than 99% to one cent. And both the rating agencies Fitch and Moody have downgraded Russian government bonds six notches to ‘junk’ status, making it impossible for Russia to borrow money in the bond market. And all the Western oil companies have pulled out of Russia, and that lack of technical expertise is going to seriously erode the productivity of Russia's fossil fuel industry. John K Clark See what's on my new list at Extropolis <https://groups.google.com/g/extropolis> ccp -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/CAJPayv0a-_nuTq6JRieTmXPf_V1iOfPwPckphetQdCYUPrwLWg%40mail.gmail.com.
