The US said that Russia is a few hours away from default
Transferring a payment of $ 100 million prevents Russia from being arrested. Russian Finance Minister Anton Siluanov accused the West of creating an “artificial barrier” and said that Moscow was ready to answer for the ruble. Thus, the world markets are faced with a “unique situation” where the borrower is ready to spread out with the circulating ones, but cannot do so due to the collection.
According to Bloomberg, the combined rating agencies Moody’s, Fitch and S&P should declare default on Russia, but banned them from working with the Russian Federation.
“Bondholders could be detained and charged, but they would probably prefer to find out in order to understand what are the chances of getting their money back, or at least part of it,” the agency’s analysts said.
In March, Russia was already faced with the inability to pay Eurobond holders in dollars. However, the payments did not go through due to the refusal of a foreign bank. Then the Ministry of Finance attracted its own financial institution and transferred it to the account of $649.2 million in rubles. This loophole was later closed.
a copy in the sixth data collection package National Settlement Depository (NSD), which is used to service securities. Russia cannot be sold for those issues, you cannot change currency for items.
Russian Finance Minister Anton Siluanov said that Moscow will pay the public debt under a scheme in which unfriendly countries pay for Russian gas. Russian banks will open an account in rubles for foreign holders of Eurobonds. Rubles will be transferred there, which will be converted into foreign currency. So Russia will be able to pay, despite the election. Experts believe that foreign partners do not agree to this and consume a technical default.
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