RoadAmerica
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but they did so it’s not propagandaStupid propaganda
Russia-Ukraine War - News and Developments
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_Nabil_
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From CNN:
West pushes Russia into its first foreign debt default since 1918 | CNN Business
Russia has defaulted on its foreign debt for the first time since the Bolshevik revolution more than a century ago.
The European Union also made it harder for Moscow to meet its debt obligations earlier this month by sanctioning Russia's National Settlement Depository, the country's agent for its foreign currency bonds.
Still, it took longer than many had expected: Sanctions have largely failed to cripple Russia's economy, as surging energy prices have padded the country's coffers.
Meanwhile, Russia's currency has soared to a seven-year high against the US dollar.
The country managed to pay back creditors with dollars in April after a long saga that put it on the brink of default. The country's finance ministry said in April that it made a $565 million eurobond that was due this year, as well as an $84 million eurobond that was set to mature in 2024. Both payments were made in US dollars, the finance ministry claimed, as required by the bond's contract stipulations.
But that wasn't possible this time around, given the recent moves by US and EU authorities.
@jhungary The "Could" that I missed
Russian Finance Minister Siluanov was quoted by state-owned news agency Ria Novosti as saying last week that the sanctions meant Moscow had no "other method left to get funds to investors, except to make payments in Russian rubles."
The Russian finance ministry said in a Telegram post on May 27 that the Russian National Settlement Depository had made the required payments of $71 million and €26.5 million.
"Allegations of default are incorrect because the necessary currency payment was made as early as back in May," Kremlin spokesman Dmitry Peskov said during a regular call with reporters on Monday.
The fact that money transferred to Euroclear was not delivered to investors was "not our problem," he said.
"So there are no grounds to call it a default," he said.
Euroclear can't settle any securities with counterparties that are subject to sanctions.
Since 2014, the last time the West sanctioned Russia over its annexation of Crimea, the Kremlin had built up about $640 billion in foreign reserves. About half of those funds are now frozen under Western sanctions imposed after the invasion of Ukraine.
It's not clear what effect — if any — the default will have on Russia's economy in the near term, as the country is already unable to borrow abroad and its existing bonds have collapsed in value to pennies on the dollar.
But in the long term, Russians will almost certainly suffer. The country's assault on Ukraine has left it with few friends in the international community, and the default will likely cut off access to foreign financing for years.
But you both know better than CNN Business
comci
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What are you talking about? Insulting you? nahh, dont you know it by now? India is a superpower. No need to be shame to be indian.
Hassan Al-Somal
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Ok the Zionist troll who is hiding behind the Sweddish flag. The amount of false information that you expressed against Palestinians clearly points to who you're. Bye now and don't quite me. Don't want to read your diarrhea.
Hassan Al-Somal
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Hassan Al-Somal
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The SC
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Why did you jump Ukraine killing its own citizen in Donbas since 2014? HaHa!
These comments of yours always betray your mentality.. a racist one we can add..
Last edited:
jhungary
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From CNN:
West pushes Russia into its first foreign debt default since 1918 | CNN Business
Russia has defaulted on its foreign debt for the first time since the Bolshevik revolution more than a century ago.www.google.com
The European Union also made it harder for Moscow to meet its debt obligations earlier this month by sanctioning Russia's National Settlement Depository, the country's agent for its foreign currency bonds.
Still, it took longer than many had expected: Sanctions have largely failed to cripple Russia's economy, as surging energy prices have padded the country's coffers.
Meanwhile, Russia's currency has soared to a seven-year high against the US dollar.
The country managed to pay back creditors with dollars in April after a long saga that put it on the brink of default. The country's finance ministry said in April that it made a $565 million eurobond that was due this year, as well as an $84 million eurobond that was set to mature in 2024. Both payments were made in US dollars, the finance ministry claimed, as required by the bond's contract stipulations.
But that wasn't possible this time around, given the recent moves by US and EU authorities.
@jhungary The "Could" that I missed
Russian Finance Minister Siluanov was quoted by state-owned news agency Ria Novosti as saying last week that the sanctions meant Moscow had no "other method left to get funds to investors, except to make payments in Russian rubles."
The Russian finance ministry said in a Telegram post on May 27 that the Russian National Settlement Depository had made the required payments of $71 million and €26.5 million.
"Allegations of default are incorrect because the necessary currency payment was made as early as back in May," Kremlin spokesman Dmitry Peskov said during a regular call with reporters on Monday.
The fact that money transferred to Euroclear was not delivered to investors was "not our problem," he said.
"So there are no grounds to call it a default," he said.
Euroclear can't settle any securities with counterparties that are subject to sanctions.
Since 2014, the last time the West sanctioned Russia over its annexation of Crimea, the Kremlin had built up about $640 billion in foreign reserves. About half of those funds are now frozen under Western sanctions imposed after the invasion of Ukraine.
It's not clear what effect — if any — the default will have on Russia's economy in the near term, as the country is already unable to borrow abroad and its existing bonds have collapsed in value to pennies on the dollar.
But in the long term, Russians will almost certainly suffer. The country's assault on Ukraine has left it with few friends in the international community, and the default will likely cut off access to foreign financing for years.
But you both know better than CNN Business
First of all, if you look at CNN article closer, you will know that that payment in question were made IN ROUBLE, not in USD as denominated. The clearing house they use "Euroclear" does not accept that transaction as they did not allow rouble
This is what Russian Finance Anton Siluanov said back in May 25 when he made said "Payment"
Russia thinks it has found a way around Washington's dollar bond payment blockade
Russia is exploring a new way of circumventing U.S. sanctions preventing Moscow from servicing its dollar-denominated debt payments to foreign bondholders.
Sure, they have paid, not in that currency denominated. It's like if I own my bank 700,000 AUD loan for my house in Australia, and I offer to pay them 3.5 millions Hong Kong Dollars, what do you think will happened? You think the bank will convert that currency for me for free? Not to mention what I have in mind of "exchange rate" is not what the bank have in mind.
If you look back at what I said. You will see I said this
Russia have at least 300 billions in USD denomination before the war started, they should have 100 millions USD to clear the payment, they didn't.
US had not, and did not, and most importantly, CANNOT stop Russia from paying their foreign debt. What US did, in my previous post, is limit Russia Central bank ability to move USD from from T-Bill, in case you are wondering, T-Bill is what US pay Russia in interest for holding US bond, essentially said US stop paying interest of Russian T-Bill, this is a dick move because that is what US owe to Russia in interest, but then wasn't the entire sanction a dick move? Because you freeze Russian asset.
On the other hand, you don't need a degree in economic to know US law only applies to US entity, and EU law only applies to EU bank, Russia have USD and Euro in both hard cash and line of credit within their own bank. How do you suppose US and Euro to interfere with what Russian bank do if the process of paying Russian debt to its debtor is outside any of those US or EU bank? Either entity can only interfere when those currency are at their hand, not already at Russian hand.
If Russia want to pay that debt in USD and Euro, Putin are able to do it and they will not default. HE CHOOSE NOT TO AND PAY WITH ROUBLE.
I don't know more than CNN, but seems like you don't know anything regarding the situation at all.
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TruthSeeker
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RUSSIAN OFFENSIVE CAMPAIGN ASSESSMENT, JUNE 27
Jun 27, 2022 - Press ISW
Download the PDFKateryna Stepanenko, Karolina Hird, Mason Clark, George Barros and Grace Mappes
June 27, 4:45pm ET
A Russian missile strike hit a shopping mall in a residential area of Kremenchuk, Poltava Oblast on June 27, likely killing many civilians.[1] Ukrainian sources stated that over 1,000 civilians were inside the mall at the time of the strike, and officials are still clarifying the number of casualties.[2] The Kremenchuk strike follows a wider intensification of Russian missile strikes against Ukrainian infrastructure and civilian targets in recent days. Advisor to the Ukrainian Ministry of Internal Affairs Vadym Denisenko stated on June 26 that Russian forces have begun a campaign of massive and largely indiscriminate missile strikes against Ukrainian cities, which echoes statements made by an unnamed US defense official on June 27 that Russian forces are increasingly relying on artillery and missile strikes to advance operations in Ukraine.[3] As Russian forces continue to burn through their supply of high-precision weaponry, such attacks that cause substantial collateral civilian damage will likely escalate.[4]
Russian military authorities continue to seek ways to replenish their increasingly exhausted force capabilities without announcing general mobilization. An unnamed senior US defense official stated on June 27 that Russian forces are likely running low on senior military leaders and are relying more heavily on retired officers and reserves to replace officer casualties.[5] The UK Ministry of Defense similarly reported that Russian forces will likely rely heavily on reserve echelons, namely the Combat Army Reserve (BARS) and Human Mobilization Resource, in order to galvanize volunteer support and fill out the third battalion tactical group (BTG) within regular (and depleted) brigades.[6] As ISW has previously assessed, such reserves are unlikely to provide Russian forces with meaningful regeneration of force capabilities.
Key Takeaways:
- Russian forces struck a shopping mall in Kremenchuk as part of a recent escalation in strikes against Ukrainian infrastructure and cities.
- Russian forces made incremental advances southwest of Lysychansk near the T1302 Bakhmut-Lysychansk highway but have not entirely severed Ukrainian lines of communication into Bakhmut.
- Russian forces made measured advances during offensive operations to the east of Bakhmut.
- Ukrainian forces repelled Russian offensives north of Slovyansk.
- Russian forces made limited and localized attacks along contested frontlines around Kharkiv City but did not make any advances on June 27.
- Ukrainian counteroffensives along the Southern Axis continue to force Russian troops to prioritize defensive operations along the line of contact.
- Russian occupation authorities are taking steps to strengthen economic control of occupied territories and force Ukrainian civilians to switch to the ruble.
Click here to enlarge the map.
- Main Effort—Eastern Ukraine (comprised of one subordinate and three supporting efforts);
- Subordinate Main Effort—Encirclement of Ukrainian troops in the cauldron between Izyum and Donetsk and Luhansk oblasts
- Supporting Effort 1—Kharkiv City;
- Supporting Effort 2—Southern Axis;
- Activities in Russian-Occupied Areas
Subordinate Main Effort—Southern Kharkiv, Donetsk, Luhansk Oblasts (Russian objective: Encircle Ukrainian forces in Eastern Ukraine and capture the entirety of Donetsk and Luhansk oblasts, the claimed territory of Russia’s proxies in Donbas)
Click here to enlarge the map.
Click here to enlarge the map.
Russian forces made marginal advances southwest of Lysychansk on June 27 but have not yet entirely severed Ukrainian ground lines of communication (GLOCs) to the city. The Ukrainian General Staff reported that Russian forces conducted a partially successful advance west of Vovchoyarivka towards the T1302 Lysychansk-Bakhmut highway (just 5 km south of Lysychansk) but are unlikely to have reached the T1302 in this area as of June 27 due to Ukrainian resistance in Verkhnokamyanka.[7] Russian forces are also securing positions in the southern territory of the Lysychansk Oil Refinery and maintained artillery fire against Ukrainian positions around the Lysychansk Gelatin Plant.[8] Ukrainian forces reportedly repelled Russian attacks north of Pidlisne, situated just south of the Lysychansk Gelatin Plant. Luhansk Oblast Administration Head Serhiy Haidai called on Lysychansk residents to evacuate from the city, indicating Ukrainian forces retain control of at least some GLOCs to the city.[9] Russian Telegram channels continue to claim that Russian forces have established “fire control” (likely meaning successfully interdicting Ukrainian movement) along Ukrainian GLOCs to Lysychansk on the Siversk-Bilohorivka road, however.[10]
Ukrainian forces continued to resist Russian advances towards the T1302 to the east of Bakhmut on June 27. The Ukrainian General Staff reported that Russian forces conducted unsuccessful reconnaissance-in-force attempts around Yakovlivka, Spirne, and Berestove, all along the T1302 highway within 30 km northeast of Bakhmut.[11] Russian forces continued to shell Ukrainian positions in Bilohorivka, also likely in an effort to sever the GLOC by forcing Ukrainian forces out of settlements along the T1302.[12] Russian and Ukrainian sources reported ongoing fighting in Klynove, where Russian forces are attempting to gain a foothold on the E40 highway to Slovyansk.[13] Ukrainian forces reportedly repulsed Russian assaults on Klynove but confirmed that Russian forces continued advancing in settlements just west of the E40.[14] Ukrainian forces also likely used recently US-provided HIMARS rocket artillery systems to strike a Russian ammunition depot approximately 60 km east in Russian-controlled territory in Luhansk Oblast.[15]
Russian forces conducted unsuccessful offensive operations north of Slovyansk on June 27. Kharkiv Oblast Administration Head Oleg Synegubov reported that Ukrainian forces resisted Russian attacks in Mazanivka and Dolyna along the E40.[16] Russian offensive operations have been largely stalled around the Izyum axis since Russian shifted their focus to secure the Severodonetsk-Lysychansk area. The UK Defense Ministry noted that heavy shelling around Izyum may indicate Russian attempts to “regain momentum” along this axis, but Russian forces will likely need to deprioritize advances in Luhansk Oblast to resume offensive operations north of Slovyansk.[17] Russian forces did not attempt to launch a ground assault on settlements in the Slovyansk or Siversk areas from Lyman.[18]
Supporting Effort #1—Kharkiv City (Russian objective: Withdraw forces to the north and defend ground lines of communication (GLOCs) to Izyum)
Click here to enlarge the map.
Russian forces conducted localized but unsuccessful assaults on settlements northwest and southeast of Kharkiv City. Kharkiv Oblast Administration Head Oleg Synegubov reported that Russian forces conducted unsuccessful attacks against Pytomnyk and Dementiivka, both situated along the E105 Kharkiv-Belgorod City highway.[19] The Ukrainian General Staff also reported that Ukrainian forces repulsed Russian attacks in Dovhalivka and Zalyman, approximately 90km southeast of Kharkiv City in the direction of Izyum.[20] Russian forces also reportedly continued remote mining, shelling, and radio-technical reconnaissance in settlements around Kharkiv City, likely in an effort to disrupt any attempted Ukrainian counterattacks.[21] Former Russian Federal Security Service officer and milblogger Igor Girkin (Strelkov) claimed that Russian forces presently lack the strength or motivation to launch offensive operations in northern and central Kharkiv Oblast but are likely to continue defending occupied positions as a “springboard” for potential future attacks against Kharkiv City.[22]
Supporting Effort #2—Southern Axis (Objective: Defend Kherson and Zaporizhia Oblasts against Ukrainian counterattacks)
Click here to enlarge the map.
Russian forces continued to focus on defensive operations along the Southern Axis on June 27.[23] Ongoing Ukrainian counteroffensives along the Kherson-Mykolaiv border are likely successfully pressuring Russian defenses. An unnamed US defense official stated that Ukrainian troops liberated “several” unidentified settlements in Kherson Oblast over the weekend, and the Head of Ukraine’s Southern Defense Force Joint Coordinating Press Center stated that Russian forces are continuing to prepare and strengthen second and third defensive lines in Kherson Oblast due to persistent Ukrainian counteroffensives in the area.[24] Russian forces once again unsuccessfully attempted to regain lost positions in Potomkyne, in northern Kherson Oblast.[25] The Ukrainian General Staff additionally reported that Russian forces may carry out assault operations in unspecified areas to reach the Kherson Oblast border.[26] This statement indicates that Russian troops may hope to eventually counteract Ukrainian advances on the Southern Axis and regain more advantageous positions, although their prospects for successfully doing so are ultimately unclear considering their generally-degraded force capabilities.
Russian forces conducted air strikes against Ukrainian positions in Kherson Oblast, artillery strikes against various locations in Dnipropetrovsk and Mykolaiv Oblasts, and a missile attack against residential infrastructure in Odesa Oblast.[27] Ukrainian forces continued strikes on the Russian grouping in Snake Island, likely in order to complicate Russian attempts to consolidate their presence in and control of the northwestern Black Sea.[28]
Activity in Russian-occupied Areas (Russian objective: consolidate administrative control of occupied areas; set conditions for potential annexation into the Russian Federation or some other future political arrangement of Moscow’s choosing)
Russian authorities continued to take measures to strengthen the economic integration of occupied areas into Russian systems on June 27. First Deputy Head of the Kherson Oblast Council Yury Sobolevskyi stated on June 26 that Russian authorities are opening the first branch of the Russian state-backed Promsvyazbank in Kherson Oblast.[29] Sobolevskyi added that Russian authorities are distributing one-time 10,000-ruble payments to ”almost everyone” to foster economic reliance on the ruble economy.[30] Ukraine’s Southern Operational Command additionally reported that Russian authorities in Kherson City are seizing banking institutions and issuing Russian salary cards to those working in enterprises that have been co-opted by Russian occupation authorities.[31] Such actions are likely intended to force occupied areas to become increasingly reliant on the ruble, stimulating long term integration into the Russian economy.
_Nabil_
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Initial post : Russia default on debt paiement
It's not default as money is available and sent .Stupid propaganda
Simple, if your bank receive less 1AUD from your payment in HG dollars, they will put it on your debit note and ask you to clear itFirst of all, if you look at CNN article closer, you will know that that payment in question were made IN ROUBLE, not in USD as denominated. The clearing house they use "Euroclear" does not accept that transaction as they did not allow rouble
This is what Russian Finance Anton Siluanov said back in May 25 when he made said "Payment"
Russia thinks it has found a way around Washington's dollar bond payment blockade
Russia is exploring a new way of circumventing U.S. sanctions preventing Moscow from servicing its dollar-denominated debt payments to foreign bondholders.www.cnbc.com
Sure, they have paid, not in that currency denominated. It's like if I own my bank 700,000 AUD loan for my house in Australia, and I offer to pay them 3.5 millions Hong Kong Dollars, what do you think will happened? You think the bank will convert that currency for me for free? Not to mention what I have in mind of "exchange rate" is not what the bank have in mind.
Bla bla bla, .... No need to jump from one subject to another, the matter is simple, Russia isn't technically in default, payment is done and the western banks and institutions refuse to process the paiements.
The west is trying to make a fuse about it and show like Russia is bankrupt and financially can't pay it's debts, that's why I called it stupid propaganda, they want to make a point where there is no point at all ...
Abdul Rehman Majeed
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The Putin's regime even brags about engineering the famine, Mao Zedong/Stalin-style, but their goals are global!:
Somalia faces worst famine in decades amid war in Ukraine
Aid workers report that Somalian children are at greatest risk, with some even dying in plain sight. Like many African countries, Somalia relies on wheat imports from Ukraine, which is currently defending its right to exist amid a Russian invasion.theblackwallsttimes.com
Children 'Dying Before Our Eyes': Aid Workers Plea for Help as Famine Unfolds in Somalia | Common Dreams
"Already 1.5 million children below the age of five are malnourished," says the U.N.'s Adam Adbelmoula, "and we expect that 356,000 of these may not survive through the end of September."www.commondreams.org
Dear [B]Hassan Al-Somal[/B] : I hope you don't have family left in Somalia, if bread is now rationed in Egypt and Tunisia, Somalia seem to have way more severe issues...
Revisiting Somalia in the face of famine
With another dry season in Somalia, the country could see famine again.www.aljazeera.com
You apparently live somewhere in the West... Never considered this might become reality for you, except Russia would be replaced by Somalia :
View attachment 857404
???????
Most watched broadcast on Russian TV :
State-owned RIA/Novosti news agency :
View attachment 857395
Russian Orthodox Church published:
View attachment 857396
How funny how Kremlin trolls try to hide what Russian state doesn't even tries to hide...
View attachment 857398
And when a guy like Lavrov tells the truth, don't be surprised if it's grim. Usually, we get a Lavrovism instead:
View attachment 857399View attachment 857400
Poor? They receive 4x the minimum salary in Algeria a month as a pension from the UN, this is also 2x+ the minimum salary in Bulgaria, the salary of an engineer in Russia, and close to the minimum salary in Portugal at doing absolutely nothing. This why they will struggle to avoid ending with a Pali state and peace: the day it will happen, all those living pretty well on UN refugee-subsides, and the UNRWA siphons more money from the UN than the UNHCR which helps all other refugees on the planet.
When it comes to be killed, your life is less at risk as a Hamas human shield than if you travel by car in Iran
View attachment 857376
Yeah! Time to tell the truth about the Palestinians, with what the MSM don't show to the public because such truth doesn't sells, while Pallywood always does great, and for a very cheap investment!
Looking at Pali towns, these seem as poor as Luxembourg
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I don't remember whom from Lenin or Goebbels declared : "Repeat a lie a thousand time and it will become the truth." ???
Agree. Slavics are liars. Never trust them. Pakistanis are Aryans and most of us support our Nazi brothers in Germany and Ukraine.
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