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Skip to comments.Russian companies withdraw billions from west, say Moscow bankers
Posted on 03/14/2014 2:58:26 PM PDT by SkyPilot
Russian companies are pulling billions out of western banks, fearful that any US sanctions over the Crimean crisis could lead to an asset freeze, according to bankers in Moscow.
Sberbank and VTB, Russias giant partly state-owned banks, as well as industrial companies, such as energy group Lukoil, are among those repatriating cash from western lenders with operations in the US. VTB has also cancelled a planned US investor summit next month, according to bankers.
The flight comes as last-ditch diplomatic talks between Russias foreign minister and the US secretary of state to resolve the tensions in Ukraine ended without an agreement.
Markets were nervous before Sundays Crimea referendum on secession from Ukraine. Traders and businesspeople fear this could spark western sanctions against Russia as early as Monday.
(Excerpt) Read more at ft.com ...
The debt to Russia can easily be repudiated without affecting anyone else.
If I were President, I could F them up pretty good.
Bump for later.
I can almost hear the stock market crash from my house!
That can’t possibly be good for business. Another nail in
our coffin of state?
Lawmakers meanwhile are preparing legislation that would allow Russian authorities to seize assets of western companies in case of sanctions. ....German Chancellor Angela Merkel said in parliament yesterday that Putin risks massive political and economic damage if he doesnt de-escalate the conflict.
The feckless Kerry has no idea what to do. The Russians do not fear us.
It isn't even the debt amount. It is the fact that they are willing to throw the first torch into the pile of sticks.
We are not on firm foundation, and the US Dollar's day as the World Reserve Currency is, I fear, about over.
JFK is protecting US interests just the way we all thought he would.
Not as long as the dollar is backed by plutonium.