See what happens to the Russian economy by next fall. Fall of the Soviet Union redo.
Keep the bidens away from that 447 million.
I’ll bet their oil exports are in the 15-20 billion dollars a month range.
The while “Russian finacial collapse” thing is a scam. They are rolling in pertrol dollars or rubles, or whatever.
“…Holders of Russian bonds will receive $87.5 million in coupons as well as $359 million in principal payments….”
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Hmmmm…. Paying down their national debt (currently at a relatively low 17% of GDP) while not being able (because of sanctions) to refinance the debt or borrow new debt. Enforced financial discipline. I just wish the American government would have similar financial discipline - but voluntary.
For all their problems, Russia has a relatively low debt and can absorb much of the sanctions. It depends on how long this lasts.
All the Russians have to do is call the Germans and tell them to take care of the payment.
You know, once again, this month, I avoided having my house foreclosed upon. Because, I, like, paid my mortgage.
But it wasn’t front page news. I just paid the bill.
Still importing Russian oil daily - so we are paying you could say.
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.
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?
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.
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.””
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.
10% for "the big guy" ya know ...
Make them pay in gold.
L