Topic: Russia announced a default on foreign obligations!!! - page 4. (Read 487 times)

No, the situation does not look like this. It is not entirely clear to me why or why you are presenting information either "twisted" or taken out of context. Let me explain - no matter how Russia boasts of its exaggerated greatness, the sanctions themselves hurt the financial sector. Yes, a significant part of the assets, including banking ones, were blocked, and here, indeed, Russia no longer manages them. And yes, disconnecting from SWIFT introduced a lot of restrictions. BUT. It is for oil / gas / coal settlements that accounts are not blocked and hotel banks were not even introduced under sanctions just so as not to violate these mutual settlements.
Regarding rubles and normal currencies: Russia still has gold and foreign exchange reserves, which are under the control of Russia. But as you understand, this is the money that Putin and his accomplices want to keep for themselves. Who needs rubles - no one! And dollars, euros and gold are a chance for a carefree old age
Therefore, the game of the "world ruler" began, who, as he says so, everyone will start doing it - we transfer all payments for gas and oil only in rubles, otherwise we will turn off everyone. But of course, everyone relied on these tricks of the crazy "great ruler". Therefore, Russia tried to make such a move - here they say you have rubles for our debts. But ... that's the difference - the West is used to working within the framework of agreements and laws, Russia - to take such illegal steps. And the contracts clearly spell out how payments on these debts should be made, and the form of calculation and terms and conditions. Conditions not met (form of payment) - I'm sorry, you're a dummy and a loser....

Russia's problems are fools and roads. What you call a problem is simply a configuration feature that naturally follows from the colossal excess of natural resources. The West deprived Russia of luxuries with sanctions, not thinking that Russia could deprive the West of basic necessities in response. Therefore, it is not necessary to wishful thinking, the West would like to get rid of Russian oil and gas, but so far it is not very successful.

More than half of the amount of 640 billion reserves of Russia, which were in banks outside of Russia, were frozen. In addition, the assets of sanctioned Russian enterprises, their officials, oligarchs and even ordinary citizens are also frozen for the implementation of the imposed sanctions. It is assumed that in the future they will be used to compensate for the damage caused by Russia's military operations in Ukraine.

Russia's problem is that it is not a high-tech state. Its economic power rested on energy resources, which it simply extracted from its bowels. As soon as the international community took a number of measures, including the refusal to supply Russian oil, gas and coal, Russia "deflated".

The Russian military is now deliberately heavily destroying infrastructure in Ukraine. Therefore, the civilized world must use any means to crush the unbridled aggressor country.

In my opinion, Russia's default is not such an important event (against the background of other events).  In fact, this is one of the episodes of the economic war between Russia and the West. 

On the one hand, Russia is not being given the opportunity to repay its debt obligations, and on the other hand, Russia does not want to spend the rest of its gold and foreign exchange reserves, which have not yet been confiscated. 

By the way, the default was announced by one of the largest infrastructure companies in the Russian Federation - Russian Railways. 

It seems to me that now all financial subtleties are not important.  The basic global agreements have already been violated and this will of course have long-term consequences for the whole world.  Now the real economy is coming to the fore - logistics, container transportation, agriculture, industrial production, communications, telecommunications, speed and quality of managerial decision-making.  Otherwise, hunger, destruction of infrastructure, man-made disasters, etc. 

No one pays any attention to the risks of defaults.  This is not a serious threat.

They were frozen and some article says its over 100 billion USD combined with total of 640bn reserves frozen due to these sanctions so they can't really pay in USD now and if there is a way probably in gold?

Well, western countries are in need of rubles right now this can be the game changer because the Russia's announcement that unfriendly countries can only buy their oil with ruble means USD actually becomes worthless in Russia,this ain't affected the USD value but it just showed that USD may fall and lose its reserve currency status if they lose more countries relationships and start imposing sanctions.

No, I understand that now some will sing the mantras "this default is not such a default", "this is not the correct default, only Russia should declare it", "we all believe that it is not such a default". But a fact is a fact - Russia has not been able, and will not be able in the foreseeable future, to fulfill all the conditions for calculating external debts! please tell me - who needs the ruble, if they lent dollars or euros? There is no need to tell "at least a ruble is better than nothing" - there will be no option with "nothing", there will be a forced seizure of assets, there will be a fine, there will be prosecution of assets around the world. And so many more times - this year Russia is waiting for at least 2 huge payments!

So what happened that the "greatest economy" suddenly ran out of dollars?

When Russia has been thrown out of SWIFT system, how they are supposed to pay their debt in USD?? It seems OP has fallen prey of US media manipulation.

Read the actual news here,

https://www.reuters.com/world/europe/russia-will-take-legal-action-if-forced-into-sovereign-debt-default-newspaper-2022-04-10/

Hope it makes sense! Russian government has already made arrangements to repay the debt in Rubble instead of USD. It isn't a default.

The article I saw on CNN said russia paid its foreign debt in rubles rather than us dollars.


Which the S & P called a default.

But it can still be worked out and a settlement made.

Russia announced a default on foreign obligations!!!

Today something happened that probably no one expected so quickly. As it turned out, not only the army is fake in Russia, but also the financial system and economy. What is your opinion, gentlemen - why did the "super-power" with the "strongest international weight" deflate so quickly?