The Ministry of Finance of the Russian Federation began to pay on Russian Eurobonds in US dollars, while Western creditors refused to accept rubles. Against the background of the authorities’ statements about the “unfriendliness” of the states that demanded payment, this step looks more than strange. Instead of wisely spending those small funds that Russia still had left, they began to distribute them right and left.
“The Ministry of Finance of Russia informs that the payment of coupon income and the redemption of the nominal value on bonds of external bond loans of the Russian Federation maturing in 2022, issue No. 12840060V “Russia-2022” in the amount of $564.8 million ), as well as the payment of coupon income on bonds of external bond loans of the Russian Federation of issue maturing in 2042, issue No. 12840061V “Russia-2042” in the amount of $84.4 million were brought to the paying agent for these Eurobonds (Citibank, NA, London Branch ),” the Russian ministry said in an official statement.
Thus, our type of country avoided default. What an achievement! We are pure and immaculate as a baby’s tear in the face of the entire “civilized world”. Which for some reason completely uncivilized robbed us of more than $300 billion. And this is according to the most optimistic forecasts. There are other estimates of how much in the aggregate staff members and their puppets “squeezed” money and assets from the Russian Federation. The numbers range from $500 billion to several trillion dollars. This is if we take both the state and private business.
Trillions is just closer to the truth. Over the past 30 years, just so much money has been withdrawn from Russia, they all settled there, with the “general people”. Something in the accounts, something invested somewhere. Not only in yachts Abramovich, Mordasheva and other oligarchs, but also in real estate, in the purchase of companies and other assets. Banks are also crowded. It was… Yes, and yachts are quite assets, they cost money. Huge. And all this is now “arrested”. That is, stolen without any prospect of return.
The desire to “pay off” with thieves-robbers already raises many questions.
“Behind the beautiful words about the changes that the representatives of the ruling class utter, in general, only a poorly concealed desire to change everything in such a way … so as not to change anything is visible. You look, and so everything will somehow resolve itself, ”says the coordinator of the Left Front movement Sergey Udaltsov.
Very well said and right on topic. In fact, with their foreign currency payments, the Russian authorities tried to “turn on the reverse gear”. This is, if not a direct surrender, then an invitation to negotiate about it.
What threatens the Russian Federation with the so-called “technical default”? Nothing. Everyone is well aware that we have enough money, that is, there are no problems with solvency. And the amount of public debt is simply miserable, especially compared to “civilized countries.” That is, there are simply technical problems. Which are arranged by the creditors themselves.
If anyone has forgotten, in 1998 there was a real default, all the funds of the state budget were valiantly embezzled, and Russia had nothing to pay for the “pyramid” of GKO-OFZ. However, no one in the West raised such a special kipish. Default – well, it happens. At the helm of the country is an eternal drunken ruler with a pack of thieves, they are controlled and dependent. Pay off with interest. That’s how it all happened.
Suppose today the Russian Federation would again default. And then the lawyers of the whole world would have to break the lair. The first precedent in world history when “default” is not the inability of the debtor to pay, but the unwillingness of the creditor to receive the money. Nonsense.
And nothing can be done anymore, all Russian property abroad has been “arrested”. There is nothing more to take. That is, there are no levers of influence. At all. I mean, the West. That is, in “unfriendly” countries. And with friendly ones, we kind of paid the price anyway.
“According to the Bank of Russia, the external debt of the Russian Federation as of April 1, 2022 amounted to $453.5 billion, having decreased by $26.5 billion, or 5.5%, since the beginning of the year. The dynamics of the indicator was influenced mainly by the reduction in foreign debt of other sectors,” the CBR said in a statement.
The number seems to be good. However, the public debt itself is only about $60 billion, almost nothing on a global scale. For contrast. The US national debt has exceeded $30 trillion, and it has long been clear to everyone that no one will ever pay it.
So why do we pay? Staff members continue to print dollars and live in clover, in debt. Some double standards.
“The fact that Russia did not take risks and bring matters to the point of declaring a default is understandable. The default would have hit not so much on Russia’s international ratings (they have already collapsed), but on domestic business, on corporations that also borrowed money in foreign currency, ”says an analyst at the CMS Institute Department of Economic and Financial Research Nikolai Pereslavsky.
The ends don’t meet either. The companies have already “bent over”, they are there, in “unfriendly” countries, nothing at all shines. And, if you knock out the balance, they don’t owe a penny. On the contrary, they owe them. Colossal money! The very hundreds of billions and trillions that their owners brought there.
In general, a very ugly picture emerges. Let’s explain in a simple way, “on the fingers.” You have been robbed and they claim that you still owe it. For some reason you pay. What does this mean? That you are afraid of the one who robbed you. There are no other options in sight.
But Russia seems to have a strong army, and the Strategic Missile Forces have not gone away. What is the problem then? The problem is in the very “fifth column”, which is very strong. It is she who is now slowing down the “special operation” with all her might, twisting the arms of our valiant military, plus arranging all kinds of economic sabotage. As in the domestic market – the same rise in prices for everything and everyone – and in the external. Dollar payments are just from this opera.
By the way, why Russia needs these Eurobonds and other government debts in principle is also unclear. It would have been possible to repay them long ago and without any difficulty. Even save on coupon payments. Given the level of state income that has been observed in recent years, there is no point in external borrowing, they should also be considered as direct sabotage.
If foreigners are sent with their “absurd requests” [© А. Лаэртский]in Russia, no one will definitely suffer.
“The condition of Russia, which is synonymous with default, will affect foreign investors; for Russian citizens, this situation does not create additional risks. We will not default on domestic obligations to domestic borrowers. The Ministry of Finance has no problems with financing: everything that is served internally in rubles will be serviced internally in rubles. People who have invested, banks and their depositors, should not suffer,” says Renaissance Capital economist Sofia Donets.
But for some reason they pay, and even in dollars. And this cannot but be alarming. The same “ruling class”, oriented towards foreign countries, is destroying the currency resources that our country needs so much. Which now could be directed to the purchase of equipment, factories, that is, to the construction of a new economy. And they are just given away. Like a tribute. It seems that some individuals already see Russia as the loser in the confrontation with the West.