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 ...
Putin will make the $2.2 billion payment out of the “frozen” dollar reserves with another special waiver from Dementia Joe. You can count on it.
Dependency is not thr right word when Russia is selling natural resources to a country that requires natural resources.
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People go crazy when talking about war.
Nothing magnanimous about it.
Russia had little to lose by not paying at all.
Dementia Joe and his people wanted the money because they think they hurt Russia by taking it.
Say what you want about Putin and Russia, they take the repayment of their debts very seriously. Always have. It was one reason businesses liked doing business with the Russian government. They knew they’d get their payments on time of very close to it.
You aren’t the first person I’ve seen say that. I wonder what makes you all so sure. Clearly your faith in the American voter is larger than mine.
There are many forces against us.
(After all, I was assured by people here Trump was a shoe-in for 2020 but we know how that turned out. Liberals HATE Trump and the MAGA movement. They will turn out in droves to vote against him. I also think that many suburban mom’s won’t vote for him again. Not to mention that I suspect the left will find a way to make him ineligible to run.)
10% for "the big guy" ya know ...
I would disagree that Russia has little to lose by not paying. Right now, their focus is showing the world that they are stable, reliable, and able to be resilient in the face of these absurd and aggressive sanctions. So far they are succeeding.
Make them pay in gold.
L
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