SG Talk

On March 5, Russian President Vladimir Putin signed a decree "On the temporary procedure for fulfilling obligations to certain foreign creditors." According to this decree, Russia does not refuse to pay its debts. But do it on your own terms.

Russian companies that owe creditors from states that have imposed sanctions against our country have the right to fulfill their obligations in rubles . At the request of the debtor, a special ruble account of a non-resident is opened in a Russian bank or depository. When the debtor has fulfilled his obligation on this account in rubles at the exchange rate, he is clean before the creditor.

This rule applies to non-residents from those states that have joined the anti-Russian sanctions .

https://www.pravda.ru/news/economics/168...latadolga/

Ownself slaps ownself! I'm sure all these idiot US UK and EU are regretting!

This look like a Judo counter punch

The West created a bank run and by crashing the ruble, massive dumping of the Ruble - it wants Russia to default on its foreign loan commitments

Now Putin tell them We will pay but we will pay you with the money that you dumped!

He's talking about 50 to 100 billion worth of loans. And because the ruble crashed like 30%, it simply means that the West will be forced to take in 30% more rubles in circulation, IN PLACE OF THE DOLLAR.

Now thats clever!

You reap what you sow

(06-03-2022, 08:03 PM)sporeguy Wrote: [ -> ]Ownself slaps ownself! I'm sure all these idiot US UK and EU are regretting!

Sg how?

Putin Seeks to Avert Defaults With Ruble Payments to Creditors

https://www.bloombergquint.com/business/...-creditors

So stupid. Can pay in rouble but basis current exchange rates where freakin rouble already lost half its value lah

(06-03-2022, 09:31 PM)lylcnn Wrote: [ -> ]So stupid. Can pay in rouble but basis current exchange rates where freakin rouble already lost half its value lah

Under capital control, Russia can just print   ruble with no loss in value!

And ..... It's "take it or leave it"! 

Huat ah! 



https://www.theguardian.com/australia-ne...ian-assets

Aussie previously held at least $305m worth of Russian assets, including shares in the country’s biggest bank, Sberbank, that were worth almost $140m but are now all but worthless due to sanctions introduced following the invasion of Ukraine last week that have destroyed its European business.

Another large industry fund, the $76bn Hostplus, said it would also sell its remaining Russian assets, which it said were now just $10m, down from $19m earlier in the week.

RUSSIA Prepares to SEIZE Foreign Business & Assets at NO COST using Fast Track Bankruptcy Plan