This comes shortly after them cancelling bond auctions. This is a desperate move. Its success is going to depend on the response of the Russian people
Edit: source on the bond auctions
https://www.themoscowtimes.com/2026/07/21/russia-halts-bond-auctions-as-government-debt-selloff-complicates-budget-financing-a93297
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In case you haven’t seen it yet, this climate town video is relevant and hilarious:
https://youtu.be/qVrg5eRJVTA
Also, if you haven’t listened to it yet, check out their podcast:
https://www.climatetownproductions.com/podcast
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The problem Putin faces is that nobody wants his state bonds. I suppose diamonds are a safer asset…
I wonder how stable the price is though. And how de beers is going to respond