I don't quite understand the argument, but this by is great. Russia was managing a sovereign economy like a non-sovereign one, exercising strict fiscal discipline. It is positioned to potentially MMT its way out of the impact of sanctions.
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Russia can just print or "virtually transfer" The currency held off shore into its central bank accounts and has probably done so already. But it doesn't make anyone want to hold the Rouble or buy from them or sell to them.
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except for oil and gas, a loophole big enough to drive a military convoy through
Perhaps but under great duress. I think most actors now genuinely don't want to do business with Russia and are prepared to experience significant pain instead.

