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Russia fails to pay debt but denies default

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Actually it is the US and it's vassal states that prevented the payment from being made. Hardly a default.

-7 ( +12 / -19 )

Actually it is the US and it's vassal states that prevented the payment from being made. Hardly a default.

If they didn't pay, they defaulted.

Trust me, no one is going to start giving them credit when they don't have the means to pay their debts. Just no one loans a money to a person without a job.

9 ( +22 / -13 )

if we are talking about B/Russia did not pay its debt/ we may have better to start talk from A/western countries blocked russian access to possibility of paymentand thats why Russia cant pay its debt/.

Western politicians are bunch of clown who cant understand how possible after months of sanctions/these could kill any economy of more weak state in weeks/Russia stands strong.

They have no idea how russian people thinking,how they live and what they do.No single hint about that,they still live in mid of 20th Century or so...

Btw did you checked rate of JPY for RUB today?Or say USD vs RUB?Or even EURO vs RUB?

Here is answer to all of this crap from article.

They are desperate and loosing own ground.Both morally and economically.

-9 ( +9 / -18 )

What a farce , will US or another western power be sanctioned , blocked and default next time it decided to blow some country up in the name of regime change and democracy? No? Why the double standards?

-12 ( +8 / -20 )

@gin: Russia wants to annex this land they invaded. Is it ok for other countries to do this?

11 ( +19 / -8 )

Russia has a point: they have the funds but cannot access them - not only due to the $300 billion frozen by the West but as they have to repay in dollars, which they're locked out of. But their situation is analogous to a boy who's grounded because he intentionally broke a window and then gets in further trouble for not attending a mandatory sports practice: it is fundamentally entirely the boy's fault.

6 ( +15 / -9 )

This didn't help:

Russia lost the last avenue to service its foreign-currency loans after the United States removed an exemption last month that allowed U.S. investors to receive Moscow's payments.

5 ( +5 / -0 )

If I lend someone money, and they attack their neighbour, resulting in losing their job and not paying me, I won’t really care about the reason why they attacked their neighbor when they ask to borrow money again. If they can’t pay their debts, no one is going to lend them money.

If they wanted to be able to keep paying their debts, maybe they shouldn’t have started a war in Ukraine.

8 ( +18 / -10 )

Actually it is the US and it's vassal states that prevented the payment from being made. Hardly a default.

If you commit a crime, you earn a reputation, that reputation means no one will deal with you.

If you can't deal, you can't service a debt. It's that simple. Better call in the Chinese...

11 ( +18 / -7 )

Russia fails to make payments on its debt obligations - but says it didn't default....

Kind'a like someone who insists they won an election when they clearly lost....

And who also is well known for failing to pay his debts...

The parallels jus keep coming...

6 ( +16 / -10 )

I hope those expecting the blocked payments don't need the money for anything important...

-7 ( +6 / -13 )

I hope those expecting the blocked payments don't need the money for anything important...

They'll survive.

I hope the Russians don't ever need to borrow money from foreign nations again. They're going to have a really, really hard time finding someone who is wiling to go into it knowing Russia can't pay.

2 ( +11 / -9 )

Its not a default its just the self righteous USA playing world police and making it impossible to pay their debt. A big difference

-8 ( +6 / -14 )

Its not a default its just the self righteous USA playing world police and making it impossible to pay their debt. A big difference.

Objectively, the difference is irrelevant. Someone lent Russia money, Russia didn't pay that back. To the lender, that's Russia's problem. Well, now the lender's problem too. So the lenders aren't going to lend to Russia anymore as long as Russia can't pay back.

If Russia wants to be able to pay their debts, Russia could start with not invading a sovereign nation and murdering its citizens. As long as it does, we're not going to feel bad watching Russia slowly sink into irrelevance.

It would be like expecting me to understand that someone I lent money to can't pay their debt, because they got fired from their job for attacking a customer.

2 ( +10 / -8 )

Russia isn't getting any loans in the near future.... Doesn't need any loans in the near future. The only loser here is whoever it is getting their repayment blocked.

Germany I believe.

-8 ( +4 / -12 )

Don't want sanctions? Don't invade other countries and murder people. Simple as.

6 ( +13 / -7 )

Strangerland

You asked me this previously.

if I'm wrong, then why isn't Russia paying their debts? You seem pretty desperate to avoid that little point.

I didn't avoid it , I ignored it seeing the only reason it hasn't is because it is being blocked from doing so.

It shows how the west has failed so poorly that it couldn't even stop Russia from getting the needed money, so now it resorts to trying not to accept the payment.

It is a sad sad sad day that the USA and friends are so pathetic that they are putting the fingers in their ears, closing their eyes and going "na na na na na, I can't see you, I can't hear you".

If I give the money to my bank for my loan and refuses to take it no court in the world would say I defaulted.

-4 ( +7 / -11 )

Vreth

Today 04:02 pm JST

Don't want sanctions? Don't invade other countries and murder people. Simple as

Ok fair point now explain those on Cuba and Iran.

All they did was kick out a USA installed dictator!

-6 ( +7 / -13 )

The most foundational aspect of a healthy financial system is TRUST. America is destroying trust in the financial system it depends upon and undermining its own financial health when other systems must be sought and developed that bypass untrustworthy and manipulable, essentially corrupt, systems. Using the global finance system as a tool of WAR will come back to haunt the U.S..

-5 ( +5 / -10 )

This is another pathetic example of the west trying to turn a loss in a win.

It couldn't stop Russia from getting money to pay so it blocks the payment and goes:

" Look Russia defaulted"

Add it to "Ukraine is pushing back Russia" as Russia takes more territory.

Mission complete in Azovstal we are withdrawing troops, as those troops become prisoners of war.

And the list keeps getting bigger.

Oh my favourite, Ukrainian are united, expect that more and more countries are placing restrictions on Ukrainian men of fighting age from entering this at the request of the Ukrainian government due to needing more soldiers but not enough coming forward and the high desertion rate ( even BBC has confirmed that) and Russia and Ukraine confirm Russia is holding over 10,000 Ukrainian soldiers many of whom just gave up without any fighting ( usually we call that desertion)

-3 ( +7 / -10 )

The West so badly wanted Russia to collapse under all the sanctions, but they just ended up shooting themselves in the foot.

And I wonder what fool convinced all these leaders and followers, Sanctions would work.

Lets see, have sanctions really ever worked?

North Korea? No.

Cuba? No

Iran? No

Venezuela? No

Now the other day some said sanctions worked on South Africa, so I checked.

If they did it took decades with the first Sanctions being imposed in 1964, increase in 1977, the most serious in 1986 and apartheid finally ending in 1994 so it took a minimum of 8 years if you only count the last harsher version.

So I guess history and facts are not very popular among western leaders.

-4 ( +5 / -9 )

This a joke. Many of you don’t see this because you’re still in the past and caught up on hating Trump. Biden knows not what he’s doing. Incompetent!

You freeze a country’s dollars and prevent it from paying debts.

You refuse to allow any bank of that country to pay US Dollars to service Debt.

And then you say - “Default!”

Russia is laughing all the way to the bank. Joe and the collective West once again will suffer an irrepairable loss of reputation. And they’ve actually made the payment.

Pilfering and plundering oligarchs’ yachts and assets. You don’t see the fascist elements in all this?

-7 ( +5 / -12 )

Its not a default its just the self righteous USA playing world police and making it impossible to pay their debt. A big difference

The US is going rouge. Some will argue it has been a rogue state.

This administration has to be one of the most inept.

-7 ( +5 / -12 )

Let me point out,

North Korea has been under sanctions for decades.

North Korea, has near zero resources but has managed to keep going, not only keep going but build nukes and missiles.

So now explain how sanctions are going to work against Russia.

Russia is self-sufficient in energy, metals, food, even makes all its own weapons, has its own GPS system, etc..

So sanctions didn't work to stop resources poor North Korea from building nukes or cause it's collapsed but they will cause Resource Rich Russia to crumble!

Man I guess Justin Trudeau isn't the only one taking advantage of the legalisation of pot!

-3 ( +6 / -9 )

Boo hoo. All Russia has to do is stop killing civilians including children and pull their troops back to their own country. Until then Russia can suffer for their own actions.

And yes it's a default. And the West engineered it to give Putin a choice of either continiong with his invasion and atrocities, or saving the Russian economy.

3 ( +9 / -6 )

Sorry, but China, India, every country in Africa and to be exact 85% of the world are NOT against Russia. Only Then wNato, the US and its Vassal states have any sanctions against Russia.

The democratic world is against Russia.

Unless you think China, India etc are not human?

China is not democratic. And India is poor, and can't afford to take a stance.

In the meantime, you're angry about my pointing out the truth. If you disagree, why is it that Russia is refusing to pay its debtors now?

-2 ( +4 / -6 )

North Korea, has near zero resources but has managed to keep going, not only keep going but build nukes and missiles.

While their people subsist off bugs.

So now explain how sanctions are going to work against Russia.

So should we invade them instead?

-3 ( +3 / -6 )

That cost Western investors $100m and will no doubt cost them more looking forward, money which the Russians get to keep. Western politicians are committing multiple acts of self-harm here. They really aren't very good at this, are they?

2 ( +4 / -2 )

They are not broke,they do not have access to dollars,to pay bondholders and the US will not let their payment clear,they delivered 3 tons of gold to Switzerland from England

4 ( +6 / -2 )

. If you disagree, why is it that Russia is refusing to pay its debtors now?

Its not refusing to pay. They’ve set up barriers and are just playing games.

And it is the US bond holders  who are losing money - not the Russians.

The Russians aren't raising capital. They have their oil and gas in billions.

2 ( +5 / -3 )

Its not refusing to pay.

If they weren't refusing to pay, they would have paid.

And it is the US bond holders  who are losing money - not the Russians.

Yes, that's true. But Russia will never be able to borrow money from other nations again.

The Russians aren't raising capital.

Yeah, they don't really need it. When you have nowhere to go spend the money, what's the point?

-2 ( +2 / -4 )

That cost Western investors $100m and will no doubt cost them more looking forward, money which the Russians get to keep. Western politicians are committing multiple acts of self-harm here. They really aren't very good at this, are they?

Russia is not able to spend money outside Russia. Seems like they're actually REALLY good.

Notice how Russia isn't able to pay it's debts anymore? Like a bum who got fired from his job for being an a-hole?

-3 ( +2 / -5 )

If they weren't refusing to pay, they would have paid.

You’re forgetting the sanctions. I’m not sure why you’re not getting it.

I’d like to pay in rubles.

No, it has to be dollars.

Okay, I’ll do it in dollars.

No, you’re sanctioned from the USD. You can’t pay,

But I need to pay my debt.

No, you’re a bum. You refuse to pay. If you had had the money you would have paid.

What you’ve written doesn’t make sense.

3 ( +4 / -1 )

You’re forgetting the sanctions. I’m not sure why you’re not getting it.

There is only one thing to get. Russia owed money, did they pay it?

If they didn't, the next question becomes, are they in the position of not being able to pay due to their own actions?

The answer to those two questions respectively are no, and yes.

Russia cannot be trusted to ensure it is in a position in which it is able to pay its debts. Therefore, Russia cannot be trusted to lend money to.

I'm not sure why you're not getting it. Which part of not lending money to someone who has no means to pay it back, do you not understand?

-3 ( +1 / -4 )

Sanctions liberated Cuba, Iran, North Korea, Syria , Myanmar and Venezula, right?

Their people are free.

Everyone has enough to eat.

There's freedom of speech.

There's equality, diversity and inclusiveness.

Life is wonderful there.

Everyone is happy.

Unicorns and rainbows for all.

So, why wouldn't sanctions work against Russia?

0 ( +1 / -1 )

The answer to those two questions respectively are no, and yes.

The answer is yes. They paid and it was not credited by design.

I'm not sure why you're not getting it. Which part of not lending money to someone who has no means to pay it back, do you not understand?

They have oil and gas. They have the money. They can pay and paid. They were not credited. They are getting paid by Europe who buys their gas.

What do you mean they have no means to pay? They have bought over 200 tons of gold these past months.

1 ( +2 / -1 )

The answer is yes. They paid

No they didn't. The creditors have not received the money Russia promised they would pay.

and it was not credited by design.

No, there was no way to make the payment, as Russia was cut off from the system. You can't credit something that wasn't done. Although I really do wish I could call my bank and say 'hey, I can't figure out a way to pay my loan this month, but you have to understand, it's been paid, you just don't have the money and I haven't actually given it to anyone'.

What do you mean they have no means to pay?

If they have the means to pay, why have they defaulted on their loans?

-1 ( +1 / -2 )

If Europeans can take their 1’s & 0’s and transfer that “cash” into Rubles to buy gas, then the Europeans can get their bond payments by opening up two accounts in Zurich, one in Euro's and one in Rubles, and have them transferred.

Oh wait, the MSM says “default”? Emotions are running high in the hen house.

0 ( +1 / -1 )

Russia will no longer be able to borrow money. Perhaps China will become their financier. In which case rest assured at the end of the day China will take back the Russian Pacific territories that were taken by Russia in unfair treaties with the Qing Dynasty.

-1 ( +0 / -1 )

If Europeans can take their 1’s & 0’s and transfer that “cash” into Rubles to buy gas, then the Europeans can get their bond payments by opening up two accounts in Zurich, one in Euro's and one in Rubles, and have them transferred.

Why would they do that? The whole point is to cut Russia of the global system. We don't want them to be able to pay. Do you not understand how sanctions work?

Oh wait, the MSM says “default”?

Yes. That is when you owe someone money on a date, and you don't pay. They call that 'defaulting' on a loan, and when that happens, no one will lend money to you easily anymore, particularly if you are a bum with no job and no means to pay. Or a but of a country who got themselves cut off from the world financial market by murdering their neighbors, leaving them with no means to pay.

If Russia wanted to be able to borrow money in the future, they probably should have paid their bills. If they wanted to pay their bills, they probably should nave not done anything to get them quarantined from humanity, things like invading their neighbors and murdering the innocent civilians in their homes and in the streets.

-2 ( +0 / -2 )

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