Business Insider: Russia says it sent $650 million bond payment in rubles after US Treasury blocked dollar transfers
* Russia on Wednesday said it had sent $650 million worth of bond payments on dollar bonds in rubles.
* The move comes after the US Treasury blocked Russia from making dollar debt payments using accounts at American banks.
Russia on Wednesday said it had transferred $650 million worth of bond payments in rubles, raising fresh questions about whether the country is heading for an official default.
The move came after the US on Monday banned Russia from making dollar debt payments from accounts at American financial institutions.
Russia's Finance Ministry on Wednesday confirmed foreign banks had refused to process the $649.2 million payment in dollars, which were due Monday.
Read more ....
WNU Editor: I can see this ending up in the courts. Creditors suing the U.S. government for their money that is frozen at American financial institutions.
Here is an easy prediction. This is going to take years to resolve.
Russia Pays Foreign Debt In Rubles For The First Time
Russia’s Creditors May Have To Choose Between Getting Paid In Rubles Or Not Getting Paid At All -- Forbes
Russia says paid dollar debt in rubles amid default fears -- AFP
Russia edges close to default on debt, puts roubles aside for bondholders -- Reuters
Moscow pays foreign debt in rubles for first time -- RT
Russia Sends $650 Million Bond Payment In Rubles After US Treasury Blocks Dollars -- Zero Hedge
6 comments:
Some experts advise to offer to pay with a credit card, when you have a dispute. You have more legal recourse to recoup your money that way.
By offering to pay(in rubles)instead of saying they cannot pay, it gives the Russian institutions leverage in court. In a fair court that will count for something.
Things are getting ridiculous and petty. Chanel won't sell Russian women purses, because they are Russian.
Furious Russian women CUT UP their Chanel handbags in protest after the fashion giants BANNED them from buying their favourite accessories
*French luxury brand pulled out of Russia and stopped sales to wealthy Russians
*Buyers must now sign pledge that they will not wear or display brand in Russia
My opinion is that you do not renege on a contract. You might not have further sales from a date certain, but you do not invalidate sales contract you had before the war or before you announced no more sales.
In other news British armament firms payed German firms for the use of their patents.
Maybe those patents could have been voided for the duration of the war.
But canceling handbag sales?
I hope Chanel goes bankrupt.
This time Biden pulls off the feat of pushing back the limits of bullshit.
On the one hand the sanctions have not changed anything for Putin (like all sanctions in Iran, North Korea Cuba Venezuela etc) but in addition Russia will make more money and on the other hand it is us who will suffer!
What a genius this Sleepy Joe!!!
Many will certainly accept the payment, and why not? At it's current trajectory, 10 million rubles may be worth 11-12 million in a week or two.
LOL that stirred up the nest US and EU in dirw need of some old fashioned bean counters
Jac
are you a Russian troll or b.poster twin?
Post a Comment