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AUGUST 2022

Russia Will Pay Its Foreign Debt in Rubles

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Russia Will Pay Its Foreign Debt in Rubles

Putin Signs Decree

On June 23, Russian President Vladimir Putin signed a decree on the payment of foreign currency debt in rubles. Roughly speaking, transactions will be made through a ruble account at the domestic market rate. Payment of such debt on the part of Russia will be regarded as “duly executed and paid” debt, even if other countries do not think so.

In fact, the debt in rubles will not be paid to all countries, but mainly to European countries on foreign currency debt. It is also worth noting that the ruble payment regime is temporary for the time being. The mechanism is designed to solve the problem of payments on foreign debt, which Russia faces every month after sanctions were imposed. External restrictions and blockages are introduced to stimulate a technical default of the country. However, the new mechanism can still be challenged by foreign partners due to the undesirable transition to payments in rubles.

The text of the document: “In order to perform the Russian Federation government debt obligations denominated in government securities, the nominal value of which is indicated in foreign currency, the Russian Federation has the right to send an application to a non-bank credit institution, which is the central depository, to open an “I” type account in the name of a foreign depository (without personal presence of its representative), which is maintained in rubles Obligations on Eurobonds of the Russian Federation are recognized as duly performed

Finance Minister Anton Siluanov said that the situation will be similar to the payment for gas in rubles. And the mechanisms will work according to the same scheme: enrollment of currency, exchange it into rubles: making the calculation, with Eurobonds will be the same, only in the opposite direction. According to the head of the Ministry of Finance, the scheme will allow avoiding the use of Western settlement infrastructure – all payments will be made through the National Settlement Depository. Earlier, the head of the Ministry of Finance said that the refusal of the U.S. Ministry of Finance to extend the license for Russia to pay the national debt is an “exotic measure”.

The beneficiaries will be the holders of European bonds. Basically, this is the second time Russia is trying to force Europe to pay in dollars. Moreover, the RF Ministry of Finance is observing more and more problems with the implementation of interbank accounts. For Russian holders, the mechanism is somewhat different, they will receive payments in rubles, but the indexation will be done at the foreign exchange rate. Foreigners will be able to receive money in rubles and reinvest them into ruble assets. Analysts believe that the scheme will not be popular abroad.

The decision is designed to extend the license to pay foreign debt, but already in the ruble format. The presidential decree legally fixes this possibility. The deadline for Russian Eurobond payments approaches (June 23-24). Payments will be made in rubles, and the grace period will be 15 days, rather than 30, which should be beneficial to investors. The future will show how satisfactory this policy is for the holders of these bonds.

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Anglia

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Last edited 1 month ago by Anglia
Retired Troll

SF please tighten your filters and get rid of these scammers from Ukraine.

Retired Troll

Thank you SF Admins. You are doing a great job eliminating trolls just like the Red Army is eliminating Nazis and drug addicts in Russian Ukraine.

Yuri

we make the rules—Russians do not adhere to racist immoral anglo laws–you morons prefer hyperinflation… is that 6$ per gallon gas cutting into your cocaine budget?

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Retired Troll

Russian Ruble will hit parity with bankrupt Americunt and EU deadbeat economies. Russia has the largest Forex reserves along with China, and its debt is quite minimal. We are now entering an era of BRICS global currencies. The dollar not be worth wiping ass with. The US has the highest debt and a totally bankrupt economy with growing poverty and 85% of the poverty stricken population spends over 60% or more on rents and 8 million are now homeless. Every city is worse than Indian slums with poor people living in tents under bridges. But the evil bastards keep on printing dollars and Jew fanned wars. Russia is not Iraq and the economic meltdown of the western warmongers has just started. Wait till the stupid morons freeze in the coming winter. The stupid Krauts will be hurt the most.

Ashok Varma

After the glaring success of BRICS summit more independent nations have approached chair Russia for membership. BRICS looks to expand. Saudi Arabia and Argentina were interested in joining BRICS. Uruguay, Iran, Egypt, Thailand, and a number of post-Soviet States have been invited by Russia and China to join. The Anglos are looking like totally isolated has beens. JAI RUS!

Florian Geyer

The EU countries are destroying their own economies on the blood soaked sacrificial alter of the USA.

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Ioan

There was no other option for Russia. When the criminals are in charge of the international finance, time to bypass them. The banking parasites controlling the Western governments have gotten away for too long with robbing the planet blind.

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zefplock

He just wait the right moment :). With the actual exchange rates it’s a 50% defacto haircut on russian bond for the west. Just hope for him it didn’t boost the rubble to high…

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USA#1!

The US Marines are coming for you Vladolph Pitler…

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WhitePride1488

The mRNA poison shot injected LGBT marines? All Putin has to do is use the wrong pronouns before those cowards go crying to their officer.

The American military is a world wide embarrassment.

Darren

U.S marines are dropping like flies on ships left and right about now, they are trying to pass it off in the U.S MSM as “suicide” but it’s obviously the clot shot.

LGBTQ DECAY MORAL ARE SOROS BLUDGERS!

Forget it gimp over 200 of your kinds were slaughtered by Russians,degenerative,lgbtq assfloggs! Now watch the power seach seeks and destroy you poofs,like theres no tommorow,seeya nazi gimps!

EpsteinWozMurdered

And the pizzas are on the way to your mothers run down house to feed the hoard of fags that are attending your gay orgy that your hosting tonight in your mothers basement.

Mari

Que vergonha para a Rússia, roubaram os grãos das safras da Ucrânia, e vende pra Turkia e resto do mundo, Putin ladrão de grãos. Ucrânia entrar pra Europa, em breve membro da OTAN.

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Yuri

payaso…idiota nazi

Claudio

Los criminales de la OTAN han estado matando gente y robando a los países más pobres. Robaron $ 8 billones en petróleo de Irak, Siria y Libia. Eres un títere mentiroso desvergonzado.

LGBTQ DECAY MORAL ARE SOROS BLUDGERS!

Russias well in control!

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Ashok Varma

Russia has successfully integrated its massive resources based economy to Eurasia SCO and BRICS. As even the Indian FM said “the days of Anglo imperialism are over”. If you look at Russia’s neighbors and allies like China, India, Iran even the duplicitous untrustworthy Turks, all have growing trade and cooperation with Russia. Iran has opened its deep water strategic port of Chah Bahar to facilitate Russian-Indian trade which is all in mutual Rupee and Ruble.

Iran a sustainable partner connecting BRICS to energy chokepoints: Raeisi

Iran’s President Ebrahim Raeisi says the Islamic Republic can be a “sustainable partner” connecting the BRICS group of nations to energy chokepoints and major markets around the globe given its unique geopolitical and geoeconomic position.

“We are ready to share all our capabilities and potentials, including short and cheap transportation and transit networks, the exceptional asset of trained manpower as well as significant scientific achievements to [help] BRICS realize its goals,” Raeisi said in a televised speech at the BRICS Business Forum virtual summit, which was attended by the group’s top leaders, including President Putin and leaders from Brazil, Mexico, South Africa, China, Venezuela and over 65 Asian, Latin and African nations on Friday. The Iranian President, once again reiterated unwavering Iranian support for Russia.

Disinfo

The Ruble is worth more than the dollar and Russia debt is only 18% of its GDP, whereas the US debt is 11 times its GDP. Who is the better bet?

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Yuri

now 15%, not 18 US—120% Denmark—cheese

Антон

State debt is much less, just 56,5 bln dollars. GPD by exchange rate was 1,4 trln dollars (when 1 dollar = ~65 rubles), so the state debt is around 4% of GDP. Source is the Finance ministry.

https://minfin.gov.ru/ru/perfomance/public_debt/external/structure/?id_38=69444-gosudarstvennyi_vneshnii_dolg_rossiiskoi_federatsii_2011-2022_gg.

Last edited 1 month ago by Антон
Disinfo

It shows how sad the education system here in America is, because most people listen to propaganda instead of thinking for themselves. Russia’s FOREX reserves were illegally frozen and hopefully there is a process where they can eventually get them back. The way they are able to pivot their economies towards Asia and away from EU has been amazing and I suspect that the West was either too ignorant or too stupid to realize that they could. So, what if they default? No one is loaning them anything now anyhow and they can force the world to pay them in cash instead of letting them float debt, it only hurts the world cuz there will always be a market for Russian resources.

Антон

Looks like we lost them forever. Thanks to liberal economists of Central bang and government. Though it’s not disaster, higher fossil prices allows to compensate all in few years.

Snagger

I don’t know; why not Russia place a surcharge on each barrel of oil and cm of gas on unfriendly countries until that $300BB is recouped? What can the unfriendliness do, say no dice? Russia has leverage at this time, why not use it?

Антон

This is external debt of the state. Liberal MSM inside Russia and western outlets loves to manipulate and to give overall external debt of the state and private companies as the state debt. Overall external debt is around 450 bln dollars (1 April 2022, cbr.ru), so ~400 billions is share of private companies and ~50 is the state debt.

Last edited 1 month ago by Антон
Conglomera

What have they been expecting when they froze (and threaten to confiscate) Russia’s foreign currency reserves ?

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ASN the first

I seriously wonder what “The Collective West” had in mind when they went down the sanctions route.

If they planned for any if this to happen, then they are not only venal, malicious and mendacious towards their citizens/ subjects, but evil geniuses too.

I don’t buy the genius part (just watch BoJo The Clown and the EU kleptocrats in action).

Disinfo

I don’t think they actually thought about it, I think they succumbed to pressure from Biden and now the world is paying for it.

Dmitri Karamazov

Perfect way to deflate the Ruble! Genius! Ruble has strengthened so much and Russia needs to get rid of its currency to stay competitive in Asian and African markets. Debt holders also win too. The dollar and Euro have weakened against the Ruble.

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Matt

Congratulations “V”lad. Sure as fuck took you long enough!

Last edited 1 month ago by Matt
Антон

Who is Vlad? Vlad is short form of Vladislav.

EpsteinWozMurdered

Cool. Russia bypassing the corrupt Zionist dominated global financial system that holds most of us and the globe in debt slavery by a financial system that was created by the Zionists to benefit themselves at our expense and to enslave whole nations to do thy bidding least they will bankrupt the country and take over that country’s resources and privatise vital economic infrastructure.

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Yuri

ukies only beg like amerikant….they pay w schlyuha—only ukie export

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TomSawyer

Nobody in the world wants rubles – even toilet paper is worth more. And don’t tell me the tale of „but it’s value against the dollar raised in the last months“. It’s complete BS, since you can’t even trade rubles for foreign currencies in Russia. It won’t last long until Russkies will be in the same position as they were before in the 80s – fked by Reagan, an actor 😆😆😆

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Arch Bungle

In Asia, specifically South East Asia (Thailand) we are buying roubles as fast as we can for the last 3 months.

The rouble value is going up and up and up.

We are already making profit from trading in roubles on the black market.

Thank you V.V Putin for this opportunity!

Claudio

Are you an American stupido maricon? Ruble is getting stronger by the day and becoming a global currency and accepted by most the EU, including Italy.

Christopher

Wait until the US defaults, and then we’ll see how valuable the dollar really is.

Ashok Varma

In real terms, the dollar is worthless as the US is $36 TRILLION in debt, thanks to losing wars everywhere. They just print dollars and now inflation is eroding that too. US inflation in real terms is like Zimbabwe at $10 a gallon petrol. Most Americans can feed themselves and use food banks. Now there is massive civil unrest coming. The stupid bastards have spent over $165 billion arming a losing corrupt Ukraine and the Jew gay clown Zelensky. US is the benchmark of hubris and insanity. Senile diaper clad 80 year old Biden is worse than Nero.

Maurizio

36.000 or 18.000 B dollars ?

Yuri

lgbt moron Sawyer envious desperate—-loser must now swallow sperm to pay for gasoline in shithole USA….LOL…

tommy used rectum sawyer

me like sodomy lessons–now I pay in roubles at brothel in Oklahoma. for leroy and Otis to teach me obedience and swallow sperm—I am submissive patriotic moron infected by amerikantretarditus incurable brain disease

Furkan

Usa is very dangerous they love murderer

tommy sawyer social worker

please use condom when in lgbt brothel—multiple anal penetrations cannot cure your brain disease…I can no longer accept worthless dollars for your psyche meds, only roubles

Christopher

Maybe it’d be better for Russia to just pay off its foreign debt completely and have zero foreign debt then they wouldn’t have to make a payment every few months.

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Ashok Varma

Iran has paid off all its debt and built a self sustaining $1.8 trillion economy. Russia needs to follow suit. The western bastards have frozen over $300 billion of Iranian funds and assets since 1979 and now they are also stealing $500 billion plus of Russian money and frozen assets. The moral of the story is never put a cent in Jew controlled western banks and get rid of SWIFT and create a Eurasian banking system. China should be withdrawing all its money from the criminal west as it is next target. Russia is doing well.

Антон

GDP of Iran is 1,4 trln dollars by PPP. Frozen (i.e. stolen) reserves — 30 billion dollars in 1979. Kazahstan’s — 16, Russia’s — ~300 (or 340), Libya’s — 70. 12 of 70 billions were placed in belgian banks, 1/2 of this sum disappeared. This is not a secret, you can read about it in MSM. 6 billion brazenly stolen! Money from libyan oil trading coming to italian banks, Italy is giving money to puppet “government” in Tripoly only. Eastern Libya (where oil fields placed) had no money from oil exports before Halifa Haftar stopped oil production and demanded to share income in equal parts for all libyans.

Sylvain

I haven’t frozen anyone money.

Blueroll456

Just inform the relevant countries that the frozen assets or a portion of them IE: 50 Billion frozen, debt 30 Billion are considered as debt paid in full or paid for x number of years. If your landlord opens your safe and takes (freezes) your money he can’t also demand rent money if the bank safe held more money than the rent.

thoughtful

It is the bondholders duty to go to the courts and claim part of the money in dollars, which has been seized by the UK and the US, in order to have their bond debts paid. Belly aching to Russia is a nonsense, it is in their ineterests to help Russia.

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AlanWilliamovich

Excellent!

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Muhammad your Prophet

Vladimir Putin just invented another delusional fantasy to pretend that the Russian economy didn’t collapse. The problem is that the Russian economy did collapse. That’s why the Putin terrorists are now desperately threatening Luthiania.

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Yuri

puppet play by lgbt rules—rectum destroyed bt Otis and leroy in oregun prison—-Russia makes the rules—-puppet must accept our rules and be raped by lgbt….

Gneaus stapo

You and ur rape dimwit shithead subhuman dumb assfuck stories.

Russian mothers must be all abusive whores,fathers drunks and thats why all the DüFaZ Putin folks talk about rape…

Once subhuman,always subhuman…time to debumbification of russia

East Indian

“However, the new mechanism can still be challenged by foreign partners”

Challenge? This is a great relief to them to get hold of Rubles without violating the sanctions of the Empire of Lies.

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