Russia is about to default on a $100 billion debt

[edhopper]

They have a payment due today of $117 million, that must be paid in dollars. But all their foreign currency is frozen.

https://www.reuters.com/business/finance/sanctions-savaged-russia-teeters-brink-historic-default-2022-03-16/

If this happens it could put Russia in uncontrolled tailspin.

Perhaps this is why the negotiations for peace are said to be going better?

[Tetrachloride]

1. Unless there is a ceasefire or wholesale Russian withdrawal or wholesale surrender

then Russia isn’t negotiating.

[edhopper]

5. They are

but I admit it could be a smoke screen.

Ukraine and Russia explore neutrality plan in peace talks
https://www.ft.com/content/7b341e46-d375-4817-be67-802b7fa77ef1

[lindysalsagal]

2. I am literally astounded that this former "intelligence officer" can't catch on: It's effing over.

Maybe he really doesn't know, yet? Is it possible he doesn't watch CNN??????

[keithbvadu2]

3. Still targeting and killing civilians

[edhopper]

6. They are

but they are also talking. Not that I trust Putin.

https://www.reuters.com/world/europe/ukraine-says-20000-escape-besieged-mariupol-uk-says-russian-forces-struggling-2022-03-16/
Both sides in Russia-Ukraine conflict talk of compromise

[SheltieLover]

4. K&R!

[Emile]

7. Okay Russia, hand over Putin for war crimes!

[JustABozoOnThisBus]

8. What's the consequence of default?

Russia is already mostly isolated. If they default, they can continue to trade with China. And China trades with the world.

[edhopper]

10. They still need to fund their Govenment by borrowing

same as us and most of the rest of the World. Even China.
If they default, they will not be able to borrow and their government and economy will start shutting down.
Austerity will have a new Cover Girl.

[JustABozoOnThisBus]

14. Maybe China can lend enough to keep the essentials going: ...

... the military, and Putin's chef and food taster.

China may still buy gas/oil/wheat from Russia, even with sanctions.

[Chainfire]

11. The debt collection agency will buy the debt for pennies on the dollar

and send a tow truck, with two burly guys from New Jersey to Putin's house to take his pick-up truck. Putin's military is no match for those goons.

[JustABozoOnThisBus]

13. Oh yeah, and that's a nice mansion he got on the Black Sea.

Be a shame something should happen to it.

[FakeNoose]

9. No problem! Pootie can cover it

[roamer65]

12. Just pay the $100 billion out of their frozen reserves.

Problem solved!