RUSSIA is BROKE ! Could not pay Interest payments of foreign loans !

If someone has a million excuses why they didn't pay the rent, they STILL didn't pay the rent.

Do you really believe the bank cares why they didn't pay? They don't. Same here.


a reply to: turretless

originally posted by: MiddleInsite
If someone has a million excuses why they didn't pay the rent, they STILL didn't pay the rent.

Do you really believe the bank cares why they didn't pay? They don't. Same here.


a reply to: turretless

Russia has already paid - www.abovetopsecret.com...

Now let the West justify itself to creditors why this money did not reach them or why this money comes to them in rubles.

a reply to: turretless

If Russia already paid they would not be in default.

originally posted by: angelchemuel
a reply to: vonclod
On the world finance stage.
Here you go...

The ruble resumed its advance against the dollar on Wednesday as the Moscow Exchange reopened after two days of public holiday. It’s now up more than 11% against the US dollar since the start of the year, surpassing the real’s 9% advance to become the top gainer among 31 major currencies tracked by Bloomberg. The offshore rate is up even more, about 12%.

More at this Bloomberg link, others are also available

Thanks,
I looked at this, it's interesting, it explains what is going on and why..can it last, or how long..I dunno.
www.cbsnews.com...

originally posted by: Xcathdra
a reply to: turretless

If Russia already paid they would not be in default.

Russia has not declared a default.

Russia announced that it paid everything - www.abovetopsecret.com...

a reply to: dollukka

I'll just quote myself from the last thread this nonsense was mentioned in. While we cheer the fake default we're facilitating what will end up being a humanitarian crisis of record proportions.

Everybody will be eating their words in 6 months, but you're going to wish those words were bread and beans.

The thread.

Which is unprecedented because it was entirely engineered by the West and is a gross display of how completely fake our global financial system is. It's like a bank refusing your payment then foreclosing on your home. There's no shortage of funds. This is pure show at the expense of taxpayers. It's also going to have long term consequences because it's going to push countries to use BRICS payment rails and BRICS central bank currency for international settlement, which may even be gold pegged. The sanctions already made that speculation into reality. It's now a done deal. How bad? We'll see, but there's no upside.

It's going to make an already terrible economic climate worse while they continue to hemorrhage tax money sending weapons into a black hole of fail in Ukraine. There was no reason for this to become the worst economic crash in human history, but what do they care? It's not like Western elites will go without. Hell, war and COVID are both good for them. It's not like Putin will suffer or Russian Oligarchs either.

No, we will. We'll suffer.

None of you seem to understand the consequences of what's happening right now. I can guarantee you there is nothing in the whole of Ukraine that's ever going to be worth what this costs us. All for show because the sanctions haven't worked.

But Putin, right? But Putin isn't continuing ineffective sanctions that are harming his citizens, our leaders are. It's having no positive impact and is coming at great expense.

Russia is not broke, this was caused because of the sanctions, they won’t let Russia make their usual payment ;

“

The U.S. Treasury Department last month ended Russia’s ability to pay back debt to international investors through American banks. The Russian Finance Ministry then said it would pay dollar-denominated debts in rubles and offer "the opportunity for subsequent conversion into the original currency."

a reply to: choomsuba

It is dollar broke .. Russia tried to make ruble as number one currency of the World and it failed.

a reply to: choomsuba

You have to remember we are in a clown world. Where doublespeak is the language. Russia is not broke the West is.
"It's safe and effective" ... It's dangerous and useless.
"We must bring Russia to its knees"...We will soon be on our knees
'The economy is in great shape".....The economy is toast You get the idea.

originally posted by: dollukka
a reply to: choomsuba

It is dollar broke .. Russia tried to make ruble as number one currency of the World and it failed.

Russia always made their payments with US dollars, the US blocked them from making their payment in USD or any other foreign currency including rubles.
Russia is currently able and capable of paying in US dollars but the US won’t let them.

originally posted by: vNex92
a reply to: dollukka

Has the US paid its debt yet?

LOL, but whatabout.....

a reply to: turretless

Here is the reality, to the west, Russia has defaulted. However to BRIC's they have not. This means that they will not pay the money in dollars or Euros but in Rubles. This means that moving forward, Russia will align more with India and China to service their debt moving there assets to those countries and bringing them closer together and away from Europe and the US. Russia didn't really have a lot of debt, however now any debt they have can and will be paid in Rubles which will strengthen their economy and there currency, this in turn will be used to raise the cost of exports, which they are sending to India and China, namely Fuel, gas, coal, raw materials. This eliminates some of the market margin that Russia was using selling the assets at a discount, but it is still a big discount buying Russian raw materials vs open market raw materials which will keep China and India buying them. Ultimately this move only helps to build self sufficiency in Russia. Had India and China participated then it would be game over, but they are keeping Russia alive and making them stronger, further now that Russia can't take debt on, I see China and India taking the lead which only enriches their banking system and encourage them to continue.

Camain

a reply to: dollukka


Ummm...this thread belongs in the LOL forum...because the entire thread premise is a Ludicrous Online Lie...

There is no default if the creditors refuse payment...the payments were disbursed on time and the creditors refused to accept them...

Those of you pushing this default lie should be ashamed of yourselves...I thought you were more intelligent than this...

Why surrender to ideological propaganda and manufactured outrage...I thought you were better than this...


Sometimes you cause me to question if I'm actually speaking to adults here...











YouSir

originally posted by: camain
a reply to: turretless

Here is the reality, to the west, Russia has defaulted. However to BRIC's they have not. This means that they will not pay the money in dollars or Euros but in Rubles. This means that moving forward, Russia will align more with India and China to service their debt moving there assets to those countries and bringing them closer together and away from Europe and the US. Russia didn't really have a lot of debt, however now any debt they have can and will be paid in Rubles which will strengthen their economy and there currency, this in turn will be used to raise the cost of exports, which they are sending to India and China, namely Fuel, gas, coal, raw materials. This eliminates some of the market margin that Russia was using selling the assets at a discount, but it is still a big discount buying Russian raw materials vs open market raw materials which will keep China and India buying them. Ultimately this move only helps to build self sufficiency in Russia. Had India and China participated then it would be game over, but they are keeping Russia alive and making them stronger, further now that Russia can't take debt on, I see China and India taking the lead which only enriches their banking system and encourage them to continue.

Camain

That is a very informative reply, but it fully exposes China, Russia and India's weakness.

Does this new emerging axis think that they can create custom between them that can ever get anywhere close to what they had when the West was their customer and seller both? It will not be enough to keep any of those economies afloat. China and India both have huge populations, a lot of mouths to feed. They are very vulnerable to potential huge famines and deficits of even basic needs. The longer this war continues, the longer this global breakdown carries on the worse it is going to get for China, Russia and India.

India are playing games with a fierce huge dragon. China already attacked them and wants to take the Himalayas from Nepal. They will be interested in huge areas of North and East India too in the future. Russia will be much more interested in China as it is a much bigger customer base. China will have its needs met before India with Russia as it is much more important. India will come out of this in a very bad position. If it had stayed with the West and been our ally they would have had their territories protected and been dealing with respectful trade partners.

This really all seem to me like a great fracture. I think the free market will have to make its own way with the West and allies. China, Russia and India will have to work out their own alienated future with their own market and what territories they have influence in. They certainly will not be allowed to take any more by force. Wherever they try they will encounter war by proxy from the West wherever it is invited in to help. How many fronts will they want to open up with the West? War drains resources, destroys markets and economies, forces rations and deficits, saps the lifeblood of all nations who are active militarily and creates huge new national debts and even mass disease. It is not sustainable. China and India are vulnerable to mass starvation. If they try to take territory they will have to go to war themselves. The West will only ever have to do it by proxy.

Russia, China and India, you are nuts to take it down this road. You will come out of this a big mess. You have ruined any further development of your economies and are slowly having everything you took from the free market taken back away from you because you got aggressive and would not embrace democracy.

Which market do you think, guys, will be the biggest and best serving for its citizens? I know who I am backing even if it takes a little hardship for a while.

originally posted by: vNex92
a reply to: dollukka

but are rubles really considerable currency to rest of the World ? No No No...

You do realize Russia part of BRICS right? an organization that is much bigger than the G7 nations.

BRICS is larger in population, but smaller in GDP.

originally posted by: network dude

originally posted by: vNex92
a reply to: dollukka

Has the US paid its debt yet?

LOL, but whatabout.....

Ummm...it's a valid question...why hasn't the US paid the thirty Trillion they owe in debt...?

Even better...why isn't there a debt threshold...?

Why are we allowing those #tards in Washington a blank check to continually increase the debt ceiling...?


Fifty generations of debtor nation slavery will never bring the US into the black...

And for what...?

To finance the MIC...and ensure that we always have an enemy to stand up so that the greater unwashed can be comfortable in their...kept...status...protected from the latest boogieman...






YouSir

a reply to: Tarantula777


Ummm...ask yourself...what does the west actually...create...?

Therein lies the answer...





YouSir

a reply to: camain

You are probably right in everything you wrote.

I am not a financier.

originally posted by: vNex92
You do realize Russia part of BRICS right? an organization that is much bigger than the G7 nations.

You just pull that out of your ass? The BRICS GDP is around $24trillion for 2021, the US GDP alone in 2021 was $23trillion.

The Ministry of Finance of Russia has fully fulfilled its obligations to pay coupon income on Eurobonds maturing in 2026 and 2036

27.06.2022 13:40

In connection with reports in the media about the “declaration of default on the obligations of the Russian Federation”, the Ministry of Finance of the Russian Federation informs.

On May 20, 2022, the Ministry of Finance of Russia made payments on bonds of external bonded loans of the Russian Federation maturing in 2026 (ISIN RU000A0JWHB2 / RU000A0JWHA4) in the amount of USD 71.25 million and in 2036 (ISIN RU000A1034K8) in the amount of 26. 5 million euros. These payments were received on the same day by the payment agent for Eurobonds (NCB JSC "National Settlement Depository") and promptly transferred both to the holders of Eurobonds of the Russian Federation, who took into account the rights to them in the Russian accounting infrastructure, and to foreign financial intermediaries, including the international settlement and clearing system Euroclear (May 24, 2022 in respect of a payment in US dollars and on May 25, 2022 in respect of a payment in euros), for subsequent transfer to the clients of the specified organization.

Thus, the obligations to service government securities of the Russian Federation were fulfilled by the Russian Ministry of Finance in full in accordance with the issuance documentation for Eurobond issues.

However, international settlement and clearing systems, having received funds in full in advance, having legal (the license of the Office of Foreign Assets Control of the US Department of the Treasury expired on May 25) and financial ability (funds received on time on May 24 and 25 in respect of payments in US dollars and euro, respectively) to bring the said funds to the final recipients, have not taken the necessary steps to do so. At the same time, all market participants knew in advance about the expiration of the specified license, but did not take actions to bring payments to investors. Taking into account that the actions of foreign financial intermediaries are beyond the control of the Russian Ministry of Finance, in case of non-receipt of payments from them on Eurobonds of the Russian Federation, it seems appropriate for investors to apply directly to the relevant financial institutions.

Please note that in accordance with the issuance documentation for these issues, the default event is the absence of payment ("failure to pay") on the part of the debtor, however, the payment was made in advance - on May 20, 2022. In this case, the non-receipt of money by investors did not occur as a result of the absence of payment, but due to the action of third parties, which is not expressly provided for in the issue documentation as a default event and should be considered within the framework of the general rules of law governing the terms of the issue, taking into account all the circumstances and good faith actions sides.

The Russian Federation does not refuse to fulfill its debt obligations to all categories of investors. To this end, in the absence of the technical possibility of making payments in foreign currencies, the Russian Federation offered investors a new settlement mechanism in accordance with Decree of the President of the Russian Federation dated June 22, 2022 No. 394.

minfin.gov.ru/ru/press-center/?id_4=38006-minfin_rossii_v_polnom_obeme_ispolnil_obyazatelstva_po_vyplate_kuponnogo_dokhoda_po_yevroobligatsiyam_s_poga sheniem_v_2026_i_2036_godakh