But but but muh ruble!
Posted on 06/25/2022 12:19:01 PM PDT by marcusmaximus
Grace period for $100mn in interest payments ends on Sunday evening.
Russia could default on its foreign debt for the first time this century as the clock ticks down on a pair of overdue interest payments blocked by western sanctions.
About $100mn worth of interest on Russian government debt is due to bondholders by Sunday night, the end of a 30-day grace period during which the country must make the payments to avoid defaulting.
Russia said it had sent the funds to investors, but financial sanctions imposed on the country following its invasion of Ukraine have hampered Moscow’s ability to access crucial market infrastructure and pay foreign debt holders.
The looming default would be Russia’s first since 1998 and comes after the US Treasury closed a loophole in sanctions last month that allowed American investors to receive payments from Moscow. Reneging on its debt would be a blow to Russia’s prestige and could trigger legal action from some creditors.
(Excerpt) Read more at ft.com ...
But but but muh ruble!
Damn Vlad, get those hemorrhoids fixed.
5.56mm
Russia is trying to pay. Western bankers/poli-whores won’t allow the money to reach the bondholders.
Drivel. What happened to real reporters who care about the facts and not spinning a yarn
Well, I understand in the US we just print money to pay our debt, maybe Russia can just print rubles to pay theirs.
Russia defaults at 12am Monday. Too funny!
Rubles are worthless to Putin if he can’t spend them outside his own craphole country.
So your bank says they’ll no longer allow you to write a check for the mortgage, as you did for the past 29 years.
You ask the bank how you’re supposed to pay for it now.
They say there is no acceptable means of payment.
They then declare you in DEFAULT and take it from you.
(no wonder the leaders representing over 70% of the world were at the St. Petersburg meeting to discuss jettisioning of the US dollar)
Russians have the biggest personal gardens and chicken /duck/turkey coops I have ever seen. They are an antifragile people. We would do well to copy them
Russia’s ruble is the strongest currency in the world this year
Russia’s ruble hit its strongest level in 7 years despite massive sanctions. Here’s why
Rubles are worthless if Putin can’t spend them outside his own craphole country.
“President says Argentina would like to join BRICS.”
Saturday, June 25th 2022 - 10:05 UTC
Steal their 600 billion cash, then demand the pay you? Might as well flip DC the finger. Hurt your credit if you don’t? There is no more financial future anyway with the WEF west unless they can install a puppet in Moscow. And if they do that it won’t matter.
so we are blocking payment and will punish them for missing the payments??
wtf??
Behind paywall but they fell into technical default today - worse for the Orcs and their enslaved supporters, Russian corporations are not far behind.
“…. maybe Russia can just print rubles to pay theirs.”
Must be paid in US dollars, dude.
Russia can easily pay a small sum like $100 mill. This is crazy. They could pay several billions too. And they really don’t need to. They can put themselves in the alt banking system and live there indefinitely. That would force most other countries doing business with them to do the same. And that is most of Europe.
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