Posted on 04/01/2022 1:32:16 PM PDT by marcusmaximus
Russia once again avoided a default on its foreign debt as the Kremlin transferred a $447 million bond payment.
The payment was processed by JPMorgan, which is Russia’s foreign correspondent bank. It was then transferred to the admin agent, which in this instance is BNY Mellon, sources familiar with the matter told The Post.
JPMorgan got the go-ahead from the Biden administration, which imposed sanctions on the Russian economy following President Vladimir Putin’s invasion of Ukraine, before processing the payment, Markets Insider reported.
JPMorgan and BNY Mellon both declined to comment when reached by The Post.
Holders of Russian bonds will receive $87.5 million in coupons as well as $359 million in principal payments.
Since Russia was hit with sanctions, bond payments are taking longer to be processed through the system.
This is the second time in as many months that Russia avoided defaulting on its debt.
(Excerpt) Read more at nypost.com ...
Agree. We should sanction ourselves.
When the truth comes out, it will be told that Putin told JP Morgan if they wanted to be paid they should take it out of the $300 billion dollars that the US seized in the Federal reserve. JP Morgan then called Biden asking permission, and Biden did so, fearing the default consequences to the bondholders.
Doubt that Putin would transfer new Soviet money for payment when the West holds so much of his money.
One can’t hardly avoid thinking about the US debt while reading this.
They dont need the west, they are already pivoting into a new trading block.
So much for all the blowhard bluster of the Pooties that Russia was going to srick to the Western debt holders by not paying.
In rubles?
PedoJoe knows Putin most likely has the “goods” on him and all the other evil ilk that’s just like him. He just doesn’t know how much and what/when Putin will do with it.
He’s compromised and beholden to Putin to keep out of the world’s view.
Even circle-back Raggedy Ann knows it’s coming, and it’s time to bail out.
Old Honest Vlad sure isn’t like most deadbeat Americans with their credit cards.
That would be a bad thing.
That scenario makes Russia dependent on China.
Or vice versa
The media keeps breathlessly repeating that Russia “avoided default” as if they are flat broke and barely paying their bills, when in fact, if a default occurs, it will be the US or EU actively preventing the same bills from being paid.
Dependency is not thr right word when Russia is selling natural resources to a country that requires natural resources.
You can be 100% sure that Putin was given a waiver by Biden to pay the interest from Russia’s “frozen” dollar reserves.
The default drama was all Kabuki. Banksters always get paid.
Exactly. Now imagine if some foreign country instructed your bank to not process your payment, then loudly announce that have defaulted and start foreclosure proceedings. This is what is going on here.
From the article:
“Investors breathed a sigh of relief last month after the Russian government made a $117 million interest payment on its foreign debt.
But a much bigger payment comes due April 4 — to the tune of $2.2 billion — and creditors are far less optimistic Russia will pony up this time.
“The last payment was a small investment in credibility, but when Russia has to start writing billion-dollar checks, it’s a different calculation,” Jay Newman, former Elliott Management portfolio manager and author of “Undermoney,” told The Post.
“I don’t think it’s realistic that Russia comes up with the $2.2 billion.””
No, dollars. The payment was made as contracted. Biden’s Treasury magnanimously decided to let them pay their obligations with their own money.
And India.
Better than being dependent on Dementia Joe.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.