Posted on 06/26/2022 8:11:57 AM PDT by marcusmaximus
Russia was poised to default on its foreign debt for the first time since 1918, pushed into delinquency not for lack of money but because of punishing Western sanctions over its invasion of Ukraine.
Russia was likely to miss payments on two foreign-currency bonds late Sunday, according to holders of the bonds who had yet to see funds deposited. The day marks the elapse of a 30-day grace period since the country was due to pay the equivalent of $100 million in dollars and euros to bondholders.
(Excerpt) Read more at wsj.com ...
They can pay. The West won’t allow them to. Western creditors get F’ed. Another own goal.
My house. My rules. LOL!
Given all the sanctions and the quasi war that now exists between the West and Russia, why would Russia really care if it “defaults” on loan instruments held by the West? They are having no trouble selling their grain, oil, gas and coal.
Putin can sell but he can’t spend.
Rubles are worthless to Putin if he can’t spend them outside his own craphole country.
Western sanctions prevent Putin from paying Western creditors so this public relations war against Russia continues.
Russia rakes in billions with inflated energy prices.
The West won’t accept Russian payments so it gets to put on this orgasmic media show fantasizing that Russia is economically bankrupt.
Bravo Sierra.
Our leaders need to get their hands out of their pants and come up with something better when it comes to Russia.
China is the big enemy and I don’t think they are impressed by this caca that they know is coming their way next.
Putin’s rubles are worthless if he can’t spend them outside his own craphole country.
Putin croaks within 8 months. This is my bet.
Russia can pay the debt but isn’t allowed to. The debt holders will sue to get their money.
It’s pointless grandstanding but western powers after they mishandled everything about this war.
Putin has been forcing many world buyers ( many acting on behalf of the EU and the US) to convert their hard currency into rubles at Russian banks, paying a fee for the privlidge and then paying in “rubles” for the oil, coal, gas and grain that they want to buy at world prices. The Chinese, Indians and Brazilians get discounts and pay in hard currency.
Putin is presiding over Russia’s first sovereign debt default since the Bolshevik Revolution in 1917.
Stronk Leader!
Winning!
Just like Lenin!
And Putin can’t spend his rubles outside his own craphole country. LOL!
Since the money is owed to Goldman Sachs, JM Morgan and a bunch of other Wall Street banks, my guess is that Russia doesn’t care.
Agreed. Weaponizing debt is worrisome to me, whether against individuals (Trudeau against truckers) or nations (EU/US against Russia) given how much debt is carried by the US and Americans generally. Wait until China makes the dollar crap and demands it’s debt payment in Chinese currency. If I were in debt, I would do everything I could to pay it off ASAP.
I thought that the latest dossier from Chrstopher Steele had Putin dead yesterday or was it that 10,000 of his generals died last week.
I’m getting confused by this *hit show about how bad things are in Russia.
I guess by next year it will be President Xi Jinping is on his death bed in China.
MarxistMaximus speaks! Not being able to import western goods means that Russian industry is forced to invest in its own industrial and intellectual capital development. There are a lot of great engineers in Russia and they will invent their way around these stupid sanctions. Get ready for Russia to start taking leadership positions in many areas of manufacturing. We’re sanctioning a country that has as much or more natural resources as America does and a lot of brilliant people -they aren’t going to starve.
Western sanctions prevent Putin from paying Western creditors so this public relations war against Russia continues.
Russia rakes in billions with inflated energy prices.
The West won’t accept Russian payments so it gets to put on this orgasmic media show fantasizing that Russia is economically bankrupt.
Bravo Sierra.
Our leaders need to get their hands out of their pants and come up with something better when it comes to Russia.
China is the big enemy and I don’t think they are impressed by this caca that they know is coming their way next.
But Russia is getting a lot of money from oil.
So they get they money, stop the payments, and then go back to the main market in China.
“The day marks the elapse...” I thought elapse was the verb and lapse was the noun. Agree or disagree? Is the WSJ as illiterate as the rest of them?
Anyway, it’s not much of a default when it is forced by sanctions imposed by the creditors.
Your predictions will come true. God willing of course.
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