Ukraine / Russia Thread

apnews.com

US to end Russia's ability to pay international investors

WASHINGTON (AP) — The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.
apnews.com apnews.com

The U.S. will close the last avenue for Russia to pay its billions in debt back to international investors on Wednesday, making a Russian default on its debts for the first time since the Bolshevik Revolution all but inevitable.

The Treasury Department said in a notification that does not plan to renew the license that allowed Russia to keep paying its debtholders through American banks.

Since the first rounds of sanctions, the Treasury Department has given banks a license to process any dollar-denominated bond payments from Russia. That window expires at midnight May 25.
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Wow. I almost wondered if I should make this it's own thread.
 
Here's the funny part: That doesn't hurt anybody but the people that are owed the money. What's more, in court, Russia will win any sort of default judgements brought against them by filing a force majeure claim. They'll win.

That's why financial sanctions in a global economy don't typically work out very well.
 
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