They can pay. The West won’t allow them to. Western creditors get F’ed. Another own goal.
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.
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.
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.
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.
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.
“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.
Just send oil and gold.
Russian geopolitics is driven by its demographic collapse, the state religion of ancestor worship for those who sacrificed in the Great Patriotic War, nostalgia among elder Russians for the international prestige of the Soviet Union, centuries-long denigration of Ukrainian language and culture, and the fact that without Ukraine, Russia cannot be the Eurasian empire projecting power towards Europe, or for that matter central or east Asia.
As “Putin’s brain”, Alexandr Dugin, wrote in 1997:
Ukraine as a state has no geopolitical meaning. It has no particular cultural import or universal significance, no geographic uniqueness, no ethnic exclusiveness... Ukraine as an independent state with certain territorial ambitions, represents an enormous danger for all of Eurasia and, without resolving the Ukrainian problem, it is in general senseless to speak about continental politics
By 2014 Russia had Crimea, its military port of Sevastopol, and claims to fossil fuels below the north Black Sea. The population there very much considered themselves to be Russian, rather than Ukrainian, since 1956. The Donbas conflict could have remained a largely frozen one, and Putin could have used it as a means of a negotiated settlement, making concessions there to achieve Ukrainian and international recognition of Russia’s annexation of Crimea. By 2017, Russia had more influence in the world than at any time since 1989. It had demonstrated that it could win proxy wars in Syria, and that it could manipulate politics in the democracies through oligarch money and “active measures” targeting Hungary, England, the United States, and elsewhere. It was winning.
Now, after the widespread and well-documented war crimes, the greatest being initating a war of aggression, international regard for Russian culture is in the dumps. We will remember the rapes and genocide in Bucha, rather than Pushkin or Shostakovich. Europe will reduce its dependence on Russian fossil fuels as fast as possible. NATO, having rediscovered its purpose, will expand to embrace Finland and Sweden. Educated Russians are fleeing the nation. The Russian conventional military has shown itself to be a paper tiger, hollowed out by decades of corruption and ill-treatment of soldiers. Ukrainian military forces are exacting a toll, 3+ casualties for every one they suffer. And most of those dying for Moscovite glory are provincials and ethnic minorities who have have lost most of their autonomy under Putin, have nothing to gain from Ukraine’s defeat, and much to gain by seceding.
It’s a strategic blunder that will reverberate for decades, maybe centuries, to come.
your propaganda is so funny.
are you just trying to deflect from the ukes week of disaster?
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this is the most disastrous week for the high heeled boy with the camo pants and masculine T-shirt since his successful evacuation at Mariupol!
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Russian forces reportedly took control of the village of Bila Gora;
Russian forces reportedly took control of the village of Mykolaivka;
Russian forces mop up the Zolote-Hirske pocket; about 800 have surrendered so far and another 1200 are estimated to be trapped there.
A FUNNY STORY FROM THE ENCIRCLED POCKET NEAR THE POWER PLANT NEAR A TOWN THAT SOUNDS LIKE wHISKEY-vODKA. Two Uke armies had “a failure to communicate” and shelled each other.They successfully killed each others commanders.
The AFU were ordered to leave their positions in Severodonetsk.Attacks ongoing in L-chansk outskirts.
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[ Ukraine SITREP ] Day 120-121 (23-24/6) Summary - Operational encirclement of Lysychansk region
https://www.youtube.com/watch?v=EuCj3Jx0Two
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[ Luhansk Front ] Russia MoD declared capture of Severodonetsk, Borivske, Syrotyne & Voronove
https://www.youtube.com/watch?v=-NV2WV_tgTM
Russia earned what is very likely a record 93 billion euros(about $97 million) in revenue from exports of oil, gas and coal in the first 100 days of the country’s invasion of Ukraine, according to data analyzed by the Center for Research on Energy and Clean Air, a research organization based in Helsinki.
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MOSCOW, June 22 (Reuters) - The rouble jumped on Wednesday to its strongest mark in seven years against the dollar and euro, supported by capital controls, a favourable upcoming tax period and Russia's trade surplus.
https://www.bloomberg.com/news/articles/2022-05-16/russia-current-account-surplus-surges-to-96-billion-on-energy#:~:text=Even%20with%20oil%20restrictions%2C%20Russia%27s,Economics%20forecast%20on%20May%206.
Russia’s current account surplus more than tripled in the first four months of the year to $95.8 billion, the central bank said, as prices surged for its oil and gas exports and imports plunged under the weight of sanctions imposed by the US and its allies over President Vladimir Putin’s invasion of Ukraine.
The surplus on the current account, the broadest measure of trade in goods and services, was the highest since at least 1994. The figure in first four months of last year was $27.5 billion.
Secret Putin plan to conquer the West:
Take in a lot of debt from European an US banks
Attack a country an incur sanctions
Rake in the dough with rising prices due to conflict
Default on debt
Economies of Europe and US collapse. Win war
Profit. Vacation in resort in the country you just took over and built with all the money you made.
As Trump says, when you owe Bank of America several hundreds of millions of dollars the bank doesn’t own you, you own the bank and dictate the terms
You gloat about Russia's default as though it were a reflection of Russia's economy having an awful, terrible, no-good, very bad time. Yet your own article conveys the duplicity of the default up front:
Russia has defaulted on its overseas debt for the first time in more than a century after missing a Sunday deadline to make a $100m interest payment. (This implies it's Russia's fault.)
Russia has the money to meet its obligations and is willing to pay, but sanctions made it impossible to get the payments to international creditors. (This makes it clear, however, that the default is entirely artificial, being an artifact of sanctions rather than the ability to repay.)
The Kremlin had been determined to avoid the default, which is a major blow to the nation's prestige. (Yet the BBC goes right back to speaking of the default as a blow to the nation's prestige, as though they hadn't just admitted that the default was forced upon them by the West.)
If you want to celebrate the default as an element of economic or geopolitical warfare against Russia, then that would at least be honest. But your celebratory paroxysms about this default somehow being a reflection of Russia's economic capacity (or rather the lack thereof) are utterly infantile.