An American coup against Russia, which is close to “defaulting”
As of today, US banks and individuals will not be able to accept payments on Russian government bonds.. which is that the US did not extend a major concession that expired last night that allowed Russia to pay US bondholders and It also allowed Russia to make payments on its sovereign debt to the Americans.
This exemption allowed Moscow to continue paying interest and avoid defaulting on its public debt: Russia has nearly 2000 million dollars in payments Its international bonds mature at the end of this year.
The end of this waiver comes two days before the next Russian debt service payment, which amounts to about $100 million in interest on its obligations, is due, leaving Moscow vulnerable. The possibility of not paying its obligations.
This measure has been applied since the start of Western sanctions against Russia in retaliation The invasion of Ukraine began on February 24thThis exemption allowed Moscow to escape from hypothetical or suspend payments. In other words, you will be on the verge of default as the White House increases pressure on the Kremlin.
What happens if Russia does not pay
Russia had to face $100 billion in debt to pay off its foreign debt. Since he already felt the penalties, on Friday he began paying the money and making transfers.
The country has $40 billion in outstanding international bonds. The Russian external debt, according to the Ministry of Finance, is from 4,500,000 to 4,700,000 rubles (from 78,000 to 81,000 million dollars at the current rate), i.e., 20% of the total public debt.
Rebuilding with Russian money
Estonia, Latvia, Lithuania and Slovakia are calling on their European Union partners to use about 300,000 million euros of Russian Central Bank assets frozen due to sanctions imposed on Moscow to finance the reconstruction of Ukraine after the Russian invasion.
“We must find legal ways to use the assets of the Russian Central Bank for the reconstruction of Ukraine,” Lithuanian Minister Gentari Saksit, whose country, together with the three other partners in the community, will present a joint document collecting this request.
The CEO of the community is already preparing a proposal to facilitate Confiscation of frozen assets by imposing penalties on companies and individuals And turn it into a common fund to finance the reconstruction of Ukraine, which is expected to be presented today.
The idea is that Across the European Union, even trying to evade sanctions becomes a criminal offence.Since in order to confiscate assets, it is necessary to link them to criminal activity, which is not necessary to freeze them.
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