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IKN
And to all on here I’m invested here
Let me make myself clear I’m a realist and this for me is purely a gamble
There is no sale whilst the war sanctions and restrictions by Kremlin are around
However I’m waiting for any meaningful ceasefire.. it will come in time then I suspect EUA will hit around 10/12p again and gradually go up over time
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https://www.ft.com/content/e0216489-a57d-46d2-90b9-b2e26b0a9973
The state has imposed capital controls without saying so. The state says, ‘It’s not forbidden to be paid in euros or dollars, it’s just complicated.’ It’s up to you whether you cash out in foreign currency or in roubles, or whether you do not cash out at all,” the person said.
Russia’s finance ministry did not respond to a request for comment.
A western seller experienced Russia’s successive rule changes within one deal.
First, they applied and obtained a sale permit nominated in euros, but the buyer backed off at the last minute. When they applied with the same deal and a new buyer in July, they were told only 50 per cent of the euro proceeds could be received immediately and the rest would be deferred. However, if the seller agreed to a rouble-denominated deal, they were told they could receive the entire sum right away.
After being paid in roubles, the seller can either exchange the amount in Russia or try to buy foreign currency abroad.
“Both options are bad,” the person said. “In the first case, the exchange rate is terrible and it is difficult to exchange large quantities. In the second case, it is difficult to find a bank that will accept the mone
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https://www.ft.com/content/e0216489-a57d-46d2-90b9-b2e26b0a9973
The restrictions on currency repatriation have added to the growing list of criteria deals must meet before they can be approved. These include a “voluntary” contribution to the Russian budget, recently raised from 10 to 15 per cent of the transaction amount, and sale at a discount of at least 50 per cent to the fair value of the assets.
An investment banker who recently helped close a deal worth about $300mn said the commission had set a seven-day deadline on the completion of the sale into a foreign account, but that the buyer was unable to transfer more than $20mn per day. “Simple math shows that it was impossible for the seller to receive all the proceeds from the deal,” he added.
Another person working on a number of exits said the commission told them there was an informal cap of $500mn that could be transferred overseas.
Interesting facts of the article .. $500m is most that can be repatriated 15% tax applied to sales to go to Russia and sales have to go through at 50% discount of fair value
Anyone still think this is selling soon
There’s also an article in the FT about Russia clamping down on Western companies and assets can’t be sold in $ or € .. shame I can’t forward the link . Basically limiting selling assets and then removing proceeds in $€£ in order to shore up the rouble
Mike
You were insinuating that Labour would use NWG has some kind of Left wing socialist Bank which I say is nonsense
Hope that clears it up for you
Personally I think Labour will be very limited in what they can do because they are going to inherit nothing more than a debt ridden cesspit .. with no economic growth.. it maybe just that they have to steady the economy for a couple of years
Oh and Chas not wanting to fall out with anyone on here but as for appeasing the loony left well I don’t think Corbyn or the lovely Dianne Abbot would agree with you
I’m a realist and I would never vote Labour if Corbyn or Abbot where any where near in charge
And Chas the Tories have appeased the right wing nutcasesfor the last 13 years
Our country is on its knees and we are all being taxed to high heaven
They are charalatans and have been nothing but sel serving
Oh and remember a year ago and who started this hammer on our economy
The thing is Mike the stories have bankrupted this country and you and I and everyone on this BB is being taxed at the highest level in modern history..
I take it you think that is ok .. I think you are talking nonsense
Stick to the facts I think my fact is right
Here here Katstrangler
I hope next year Labour trounce these clowns we have in charge and then a year or so into their premiership start talking about closer links and the single market .. Everyone now knows Brexit is a disaster and It angers me that Labour aren’t saying so but I do understand why ..
The office cat
I’m a realist and not going to fall out with anyone on here it’s just my opinion which we are all entitled to
Russia will not want let say a Billion dollar sale going to the London Stock Market
Will the sanctions in the banking system allow that ? I don’t know just asking
Look at SP now there is no appetite if sale was in the next few months then this wouldn’t be 2.5p
If you look back on my post I’ve made my position clear on numerous occasions I’m gambling on EUA
No doubt the slightest sniff of genuine peace talks then the SP will rise
Like I say it’s my opinion I’m not slating EUA or the board or anyone on this forum however I do believe some people on here need to take their heads out of the sand
Sanctions will be lifted in time .. The Ukrainian offensive probably hasn’t gone to plan and unfortunately no matter how much Zelenskyy says not an inch of land to Russia I think pressure will be put on him soon .. Both Russia and NATO can’t keep up with ammunition demands and stalemate will ensue … I think part of any peace treaty sanctions will be de-escalated on time and depending on ceasefire agreements.. no quick fix for EUA .. no sale until war ends and sanctions lifted