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  1. #276
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    Double post.

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    Quote Originally Posted by Backspin View Post
    Lithuania reneged on one of its terms of sovereignty. That's not very smart.
    Show us where this is stated in their 'terms of sovereignty, please.


    Luckily Russia never 'renegs' on anything

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    Quote Originally Posted by OhOh View Post
    However, the EU may, or may not, be having second thoughts.
    Economic sanctions-walking-backwards-jpg


    25 Jun, 2022 17:07 HomeWorld News

    EU has solution for blockade of Russia’s Kaliningrad – MEP

    Brussels is preparing a document allowing goods to enter the Russian exclave, MEP Petras Austrevicius has claimed.

    "European Union officials have drafted a document that would allow the transit of sanctioned goods between Russia and its European exclave, Kaliningrad, Lithuanian MEP Petras Asutrevicius claimed on Saturday. Lithuania has banned the flow of certain goods in and out of Kaliningrad, claiming that it is enforcing EU sanctions. Russia has termed the move an “economic blockade” and threatened a “negative” response.
    The document was circulated during meetings in Brussels earlier this week, Austrevicius wrote in a Facebook post. According to the Lithuanian MEP, it would permit the transit of sanctioned goods “from Russia to Russia,” with these goods passing through Lithuanian territory.

    Austrevicius said that Lithuania’s position is “uncompromising,” and that if the document is adopted as policy, “Lithuania would remain alone without formal EU coverage.”

    With the document set to be published next week, Austrevicius said that himself and several other anti-Russian MEPs have written to European Commission President Ursula von der Leyen, calling the proposed revision to the sanctions regime “unacceptable.”

    Austrevicius’ Facebook post came a day after Josep Borrell, the EU’s top diplomat, said that Brussels will “review” its sanctions policy to avoid blocking traffic between Russia and Kaliningrad.

    Lithuania’s national railway operator banned the flow of sanctioned goods between the region and mainland Russia last weekend, citing sanctions guidelines from the European Commission. The restrictions, expected to affect roughly 50% of cargo flow between the exclave and mainland Russia, have already hit road traffic as well, according to Kaliningrad officials.

    Moscow has called the restrictions “unprecedented” and “illegal,” and the head of Russia’s National Security Council, Nikolay Patrushev, has promised retaliatory steps that would “have a serious negative impact on the people of Lithuania.”
    Ahead of the document’s publication, Austrevicius lamented the “mood of capitulation” in Europe and said “it looks like Russia is winning at the moment.”"

    EU has solution for blockade of Russia’s Kaliningrad – MEP — RT World News


    25 Jun, 2022 08:50 HomeBusiness News


    EU buying more Russian oil – Bloomberg

    Deliveries are reportedly at the highest level in two months despite an EU embargo.

    "Europe has increased the amount of crude oil it is importing from Russia, Bloomberg reported this week. That’s despite an EU embargo agreed less than a month ago.
    Oil refineries on the continent purchased 1.84 million barrels a day of Russian crude last week, Bloomberg reported, citing tanker tracking data, adding that it was the third consecutive weekly increase and the highest level that Europe, including Turkey, received in almost two months.

    The increases have been attributed to Litasco SA, the trading arm of Russia’s Lukoil, transporting the barrels to its refineries in Italy, Romania, and Bulgaria, and purchases by Turkey."

    Continues:

    https://www.rt.com/business/557551-e...e-russian-oil/
    Last edited by OhOh; 26-06-2022 at 01:07 PM.
    A tray full of GOLD is not worth a moment in time.

  4. #279
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    Quote Originally Posted by panama hat View Post
    Show us where this is stated in their 'terms of sovereignty, please.


    Luckily Russia never 'renegs' on anything
    That wouldn't be like Russia guaranteeing Ukraine sovereignity if it gave up its nuclear weapons would it?

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    Is US/NATO (with WEF help) pushing for a Global South famine?

    By Michael Monday, June 6, 2022

    Is the proxy war in Ukraine turning out to be only a lead-up to something larger, involving world famine and a foreign-exchange crisis for food- and oil-deficit countries?

    "Many more people are likely to die of famine and economic disruption than on the Ukrainian battlefield. It thus is appropriate to ask whether what appeared to be the Ukraine proxy war is part of a larger strategy to lock in U.S. control over international trade and payments. We are seeing a financially weaponized power grab by the U.S. Dollar Area over the Global South as well as over Western Europe. Without dollar credit from the United States and its IMF subsidiary, how can countries stay afloat? How hard will the U.S. act to block them from de-dollarizing, opting out of the U.S. economic orbit?"

    "The question is, is it more than just “benign neglect”? At what point does depopulation policy become conscious? One need merely look at the Baltic disaster. Since 1991 the populations of Latvia, Estonia and Lithuania have declined by over 20%, primarily because the working-age population has had to emigrate to the rest of Europe in order to find work. Neoliberal policy kills – as the world saw in Russia after 1991, echoed in Ukraine."

    "The Biden administration blames Russia for “unprovoked aggression.” But it is his administration’s pressure on NATO and other Dollar Area satellites that has blocked Russian exports of grain, oil and gas. Many oil- and food-deficit countries see themselves as the primary victims of the “collateral damage” caused by US/NATO pressure."


    Is world famine and balance-of-payments crisis a deliberate US/NATO policy?

    On June 3, African Union Chairperson Macky Sall, President of Senegal, went to Moscow to plan how to avoid a disruption in Africa’s food and oil trade by refusing to become pawns in the US/NATO sanctions. So far in 2022, President Putin noted: “Our trade is growing. In the first months of this year it grew by 34 percent.”[4]

    But Senegal’s President Sall worried that: “Anti-Russia sanctions have made this situation worse and now we do not have access to grain from Russia, primarily to wheat. And, most importantly, we do not have access to fertilizer.”

    The African Union is not a policy-making body. A viable response will require a critical mass, and that means that it will have to come in conjunction with China and Russia. An institutional response and alliance along such lines is what US/NATO pressure is aiming to prevent. U.S. diplomats are forcing countries to choose whether, in George W. Bush’s words, “you are either for us or against us.” The litmus test is whether they are willing to force their populations to starve and shut down their economies for lack of food and oil by stopping trade with the world’s Eurasian core of China, Russia, India, Iran and their neighbors.

    Evidently some major dimensions are missing from the U.S. national-security think-tank models. But when it comes to global famine, was a more covert and even lager strategy at work? It is now looking like the major aim of the U.S. war in Ukraine all along was merely to serve as a catalyst, an excuse to impose sanctions that would disrupt the world’s food and energy trade, and to manage this crisis in a way that would afford U.S. diplomats an opportunity to not only lock in Western Europe but to confront Global South countries with the choice “Your loyalty and neoliberal dependency or your life – and, in the process, to “thin out” the world’s non-white populations that so worried Mr. Gates and the WEF?

    The best one can say is that it is a case of gross negligence. But at some point benign neglect becomes malevolent. There is an obligation of nations to think of the consequences of their bellicose policies. These consequences must be deemed intentional if the consequences are quite obvious. In legal practice, gross negligence is punished as if the negligent party actually wrought damage.
    American politicians take plains to avoid any sign that they recognize collateral damage (“external economies”) of their policies. But such negligence is a danger to the world. If a nation’s behavior is consistently damaging to other countries, the effect is as if it were planned. That is the case with America’s Cold War 2.0 policy, and with neoliberal economics generally.

    Taking the looming disruption of trade and payments into account suggests that what appeared in February to be a war between Ukrainians and Russia is really a trigger intended to restructure the world economy – and to do so in a way to lock U.S. control over both Western Europe and the Global South. Geopolitically, the proxy war in Ukraine has been a handy excuse for America to seek to counter China’s Belt and Road Initiative (BRI).

    The choice confronting Global South countries: to starve by paying their foreign bondholders and bankers, or to announce, as a new basic principle of international law: “As sovereign countries, we put our survival above the aim of enriching foreign creditors who have made loans that have gone bad as a result of their choice to wage a new Cold War. As for the destructive neoliberal advice that the IMF and World Bank have given us, their austerity plans were destructive instead of helpful. Therefore, their loans have gone bad. As such, they have become odious and we will not pay them.”

    NATO’s policy has given Global South countries no choice but to reject its attempt to establish a U.S. food stranglehold on the Global South by blocking any competition from Russia, thereby monopolizing the world’s grain and energy trade. For many years the major grain exporter was the heavily subsidized U.S. farm sector, followed by Europe’s under its highly subsidized Common Agricultural Policy (CAP). These were the main grain exporters before Russia entered the picture. The US/NATO demand is to roll back the clock to restore food and oil dependency on the Dollar Area and its eurozone satellites.

    The implicit Russian and Chinese counterplan

    What is needed for the world’s non-US/NATO population to survive is a new world trade and financial system. The alternative is famine for much of the world. More people will die of the Western sanctions than will have died on the Ukrainian battlefield. Financial and trade sanctions are as destructive as military attack. So the Global South is morally justified in putting its sovereign interests above those of the wielders of international financial and trade weaponry.

    • First, Global South countries need to reject the sanctions and reorient trade to Russia, China, India, Iran and their fellow members of the Shanghai Cooperation Organization (SCO). The problem is how to pay for imports from these countries, especially if U.S. diplomats extend sanctions against such commerce.


    • There is no way that Global South countries can pay for oil, fertilizer and food from these countries and also pay the dollar debts that are the legacy of U.S.-sponsored neoliberal trade policy and the U.S. and eurozone protectionism that went with it.


    • Therefore, the second need is to declare a debt moratorium – in effect, a repudiation – of the debts that represent loans gone bad. This act would be analogous to the 1931 suspension of German reparations and Inter-Ally debts owed to the United States. Quite simply, today’s Global South debts cannot be paid without subjecting debtor countries to famine and austerity.


    • A third corollary that follows from these economic imperatives is to replace the World Bank and its pro-U.S. policies of trade dependency and underdevelopment with a genuine Bank for Economic Acceleration.


    • Along with this institution is a fourth corollary in the form of the new bank’s sibling: a replacement for the IMF that is free of austerity junk economics and does not subsidize America’s client oligarchies or currency raids on countries resisting U.S. privatization and financialization takeovers.


    • The fifth requirement is for countries to protect themselves by joining a military alliance as an alternative to NATO, to avoid being turned into another Afghanistan, another Libya, another Iraq or Syria or Ukraine.


    The main deterrent to this strategy is not U.S. power, for it has shown itself to be a paper tiger. The problem is one of economic consciousness and will."


    Is US/NATO (with WEF help) pushing for a Global South famine? | Michael Hudson

  6. #281
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    The Fed’s Austerity Program to Reduce Wages

    By Michael Sunday, June 19, 2022

    "To Wall Street and its backers, the solution to any price inflation is to reduce wages and public social spending. The orthodox way to do this is to push the economy into recession in order to reduce hiring. Rising unemployment will oblige labor to compete for jobs that pay less and less as the economy slows.

    This class-war doctrine is the prime directive of neoliberal economics. It is the tunnel vision of corporate managers and the One Percent.

    The Federal Reserve and IMF are its most prestigious lobbyists. Along with Janet Yellen at the Treasury, public discussion of today’s inflation is framed in a way that avoids blaming the 8.2 percent rise in consumer prices on the Biden Administration’s New Cold War sanctions on Russian oil, gas and agriculture, or on oil companies and other sectors using these sanctions as an excuse to charge monopoly prices as if America has not continued to buy Russian diesel oil, as if fracking has picked up and corn is not being turned into biofuel.

    There has been no disruption in supply.

    We are simply dealing with monopoly rent by the oil companies using the anti-Russian sanctions as an excuse that an oil shortage will soon develop for the United States and indeed for the entire world economy."


    Continues at:

    The Fed’s Austerity Program to Reduce Wages | Michael Hudson

  7. #282
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    Britain has introduced a new set of trade and financial sanctions against Russia over its unprovoked invasion of neighboring Ukraine.
    A notice posted on the U.K. government website on June 23 outlined the new restrictions, which include export bans on a range of goods and technology, the export of jet fuel, and the export to or use in Russia of British pounds or euros.
    Britain Slaps More Trade And Financial Sanctions On Russia Over War In Ukraine

    Jet fuel, replacement parts etc ... the UK, the EU, US etc etc . . . Russia may sell its oil to China and spending it just as quickly on the murderous invasion of Ukraine . . . but if it can't buy what it needs - they're fucked

  8. #283
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    That sounds a bit like snubby's "oh but this latest death ray will change the course of the war"- ie, wishful thinking, applied to the economic sanctions. They are not working, and furthermore have caused a move away from the USD as the virtual monopoly currency of international trade. Sure, they will cause some economic pain- but pose no existential threat to the Russian economy.

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  10. #285
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    ^ Too thick to post a link, Backspit?



    Quote Originally Posted by sabang View Post
    They are not working
    You can say that until you're blue in the face . . . but they are. Proof has been shown. Just accept that one country will suffer if the majority of the world applies sanctions.

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    Quote Originally Posted by sabang View Post
    They are not working, and furthermore have caused a move away from the USD as the virtual monopoly currency of international trade.
    You really do live in a fantasy world.


  12. #287
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    Quote Originally Posted by bsnub View Post
    You really do live in a fantasy world.

    At least they have dropped all pretense now of being anything other than OhOhs anti western lackies with no credibility. OhOh is obviously Mo i'm just not sure which is Larry and which is Curly.

  13. #288
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    I have shown you the facts and figures combined with knowledgeable comment earlier in this thread. So carry on with your childish smilies and wishful thinking for as long as you want. It makes no difference to people that know how to read, and comprehend.

  14. #289
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    Quote Originally Posted by sabang View Post
    I have shown you the facts and figures combined with knowledgeable comment earlier in this thread.


    What a clown.

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    Quote Originally Posted by sabang View Post
    knowledgeable comment

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    Typical boneheads, nothing to say beyond petulance and childishness. Which totally exposes the paucity of your 'argument '.

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    Quote Originally Posted by sabang View Post
    Which totally exposes the paucity of your 'argument '.
    You have no crediblity and have been proven a fool many times over. The paucity is well-earned on your part.

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    West may have underestimated Russia's ability to weather sanctions


    June 27, 2022 07:00 AM


    The United States and Europe might have miscalculated just how resilient Moscow has been to sanctions in the short run.

    When the West applied aggressive sanctions against Russia after its invasion of Ukraine, it hoped to crush the value of the ruble and send inflation soaring. Before that, the U.S. and allies also had hoped to deter Russia from its incursion by dangling the mere threat of punishing sanctions — but in some respects, it has fallen flat on both fronts.

    The ruble is up more than 30% this year against the U.S. dollar and is trading at 54.20 to the dollar. That growth came after the value of the ruble immediately cratered following Russia’s invasion and was at one point worth less than a penny.

    Additionally, while the U.S. cut off Russian energy exports and Europe vowed to begin cutting back in hopes of smothering the Russian economy, Moscow has been able to find other buyers and is now retaliating itself.

    Last week, Russia slashed the amount of gas it pumps into Europe via its Nord Stream I pipeline 60% in a retaliatory fashion. It was also reported that some White House officials have been privately expressing concerns that the sanctions have backfired in a sense and are hurting the U.S. economy through higher inflation and supply chain problems more than anticipated.

    Bruce Jentleson, a professor of public policy and political science at Duke University, said there were two calculations made by the U.S. and allies in sanctioning Russia. The first of which was that the mere threat of being sanctioned so heavily would act as a deterrent to the Russian invasion. The threat alone did not work, as Russia punched its way into Ukraine in February.

    The second calculation was that the sanctions would be so strong they would represent a sort of "shock and awe" for Moscow. The West hoped that the aggressive sanction regime would devastate the Russian economy so much and so swiftly that it would cause Putin to rethink the war and bring him to the negotiating table.

    “The jury is still out on the medium- to longer-term effect of sanctions, but their calculations of short-term effects, both deterrent and immediate shock and awe, were way overestimated,” Jentleson told the Washington Examiner.

    The targets of sanctions typically already have certain plans in place to insulate themselves prior to the sanctions kicking in, and Russia has taken some countermeasures to do so.

    For example, the Russian central bank quickly hiked interest rates from 9.5% to 20% in the immediate aftermath of the invasion, and the government imposed strict capital controls to force buying of the ruble and limit selling, including requiring Russian exporters to convert a percentage of their excess revenues into rubles.

    Despite the West's attempts to choke off its revenues, Russia has continued to reap major profits from its energy exports, thanks largely to the higher prices of oil and gas globally and a rise in purchases from non-Western nations.

    Europe is still buying substantial volumes of Russian oil and gas, to be sure.

    France has increased imports of Russian fossil fuels since the war began, and in the first hundred days of the war, Russia’s top five buyers, in terms of euros spent, included Germany, Italy, and the Netherlands, according to research published earlier this month by the Europe-based Center for Research on Energy and Clean Air.

    Meanwhile, Russia has also been diverting more oil and gas to destinations outside of Europe. China, India, Saudi Arabia, and the United Arab Emirates have all taken advantage of discounted Russian oil and increased their imports since the war began.

    India alone bought 18% of Russia’s crude exports in the first 100 days, according to CREA, and China increased seaborne imports to around 1.1 million barrels per day in May.

    Russia has sold its oil at a discount to Brent crude of as much as $37 per barrel since the war began, but because of higher Brent prices, it's earning more per barrel now than at the beginning, a top State Department official recently said.

    "I can't deny that," Amos Hochstein, senior adviser for energy security, recently told a Senate committee when asked about Russia's higher oil revenues.

    “Commodity prices are currently sky-high, and even though there is a drop in the volume of Russian exports due to embargoes and sanctioning, the increase in commodity prices more than compensates for these drops,” said Tatiana Orlova, lead emerging markets economist at Oxford Economics.

    There might also be some sanctions fatigue as the war drags on. If the war wears on through the summer and inflation continues to plague Western economies and cause them pain, Russia might be hoping that leadership in the U.S. and Europe might try to pare back the sanctions over domestic discontent.

    Still, Russia will likely not be able to sustain these countermeasures indefinitely.

    “The combination of the sanctions and the Ukrainian military strategy and U.S. and Western support for that could put enough pressure on Russia that they’re willing to negotiate,” Jentleson said.

    Currencies can also be overvalued, and a too-valuable ruble can actually hurt the Russian economy.

    First Deputy Prime Minister Andrey Belousov said there have been talks about targeting an “optimal” exchange rate of 70-80 rubles per dollar in order to encourage economic growth, Bloomberg reported.


    Additionally, Russia has been working to weaken the capital controls it implemented after the U.S. and Europe hit its economy with sanctions. The Russian central bank has also been slashing interest rates, which are now back to prewar levels.

    It is yet to be seen how effective U.S. and European sanctions will be on Russia in the long run, though in the short run, it is becoming more apparent that they didn’t have as devastating an effect as initially thought and are causing consumers in the U.S. to feel more economic blowback than expected.

    https://www.washingtonexaminer.com/p...ther-sanctions



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    More right wing propaganda that ties directly into Kremlin horseshit propaganda. The examiner is owned by the fucking Moonies cult. Dig yourself further down, lemming.

    The paucity as stated before is well earned.

  20. #295

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    Synopsis

    Ukraine is Losing Badly and Things Are About to Get Much Worse for Them, Unless …




    The 40 Billion Dollars That You And I Just Gave To Ukraine And Raytheon

    Despite what some Western pundits have said about the new weapons shipment to Ukraine being some sort of “game changer”, the truth of the matter is, the weapons sent to Ukraine are not going to make any sort of substantial difference to the outcome of the conflict.(5)

    In fact, if you read between the lines of Joe Biden’s Op-Ed in the NY Times from May 31st, it’s fairly clear that the US and NATO are aware of the fact that Ukraine has no chance of resurrecting itself at this stage of the game.(6) This means that what was actually sent out was a 40 billion dollar gesture signal (made up of US taxpayer money) that included a multi-billion dollar gift to the Raytheon Weapons and Defense Conglomerate.

    The US and NATO Must Immediately Shift From Promoting Escalation to Promoting A Settlement

    Ukraine’s overall fighting capacity has seriously weakened. Frankly, there is no realistic chance of a turnaround at this point in the conflict. On the contrary, all indications are that Ukrainian forces are going to continue to be crushed as their numbers decrease at an accelerated rate with each passing week.

    Ukraine, with the US and NATO’s blessing, must now agree to become a neutral state. Ukraine must also agree to cede land to Russia. They will certainly lose more territory than they would have if negotiations had not been pre-empted in March.(7) But what is the other alternative?! Tens of thousands more dead Ukrainians? A complete takeover of Ukraine by Russia? Both?? All indications are, if we can find a way to look past the Western media’s smoke screen, that Putin and Russia would have and will still negotiate if a serious attempt is made to work out a settlement. Again, a serious attempt at a settlement would mean that Ukraine would absolutely have to cede territory to Russia, territory already controlled by Russian forces. This is, in this writer’s opinion, the only reasonable, workable and sane move for Ukraine and the US/NATO to make at this point.

    FULL-
    https://www.pressenza.com/2022/06/ukraine-is-losing-badly-and-things-are-about-to-get-much-worse-for-them-unless/

  22. #297
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    Quote Originally Posted by sabang View Post
    Typical boneheads, nothing to say beyond petulance and childishness. Which totally exposes the paucity of your 'argument '.

    Do you try hard to demonstrate your hypocrisy in one post?

    Call posters boneheads. Claim that they are the childish and petulant ones…

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    Quote Originally Posted by sabang View Post
    I have shown you the facts and figures combined with knowledgeable comment
    Actually, you haven't.


    Fact:

    Russia slips into default zone as payment deadline expires

    LONDON: Russia looked set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday (Jun 27) following the expiry of a key payment deadline a day earlier.
    Russia has struggled to keep up payments on US$40 billion of outstanding bonds since its invasion of Ukraine on Feb 24, as sweeping sanctions have effectively cut the country off from the global financial system and rendered its assets untouchable to many investors.
    The Kremlin has repeatedly said there are no grounds for Russia to default but it is unable to send money to bondholders because of sanctions, accusing the West of trying to drive it into an artificial default.
    Russia's efforts to avoid what would be its first major default on international bonds since the Bolshevik revolution more than a century ago hit a insurmountable roadblock in late May when the US Treasury Department's Office of Foreign Assets Control (OFAC) effectively blocked Moscow from making payments.
    "Since March we thought that a Russian default is probably inevitable, and the question was just when," Dennis Hranitzky, head of sovereign litigation at law firm Quinn Emanuel, told Reuters. "OFAC has intervened to answer that question for us, and the default is now upon us."
    While a formal default would be largely symbolic given Russia cannot borrow internationally at the moment and doesn't need to thanks to plentiful oil and gas export revenues, the stigma would probably raise its borrowing costs in future.
    The payments in question are US$100 million in interest on two bonds, one denominated in US dollars and another in euros, Russia was due to pay on May 27. The payments had a grace period of 30 days, which expired on Sunday.
    Russia's finance ministry said it made the payments to its onshore National Settlement Depository (NSD) in euros and dollars, adding it has fulfilled obligations.
    Some Taiwanese holders of the bonds had not received payments on Monday, sources told Reuters.
    For many bondholders, not receiving the money owed in time into their accounts constitutes a default.
    With no exact deadline specified in the prospectus, lawyers say Russia might have until the end of the following business day to pay the bondholders.


    Russia's bonds have been issued with an unusual variety of terms, and an increasing level of ambiguities for those sold more recently, when Moscow was already facing sanctions over its annexation of Crimea in 2014 and a poisoning incident in Britain in 2018.
    Rodrigo Olivares-Caminal, chair in banking and finance law at Queen Mary University in London, said clarity was needed on what constituted a discharge for Russia on its obligation, or the difference between receiving and recovering payments.
    "All these issues are subject to interpretation by a court of law, but Russia has not waived any of its sovereign immunity and has not submitted to the jurisdiction of any court in any of the two prospectuses," Olivares-Caminal told Reuters.
    In some ways, Russia is in default already.
    A committee on derivatives has ruled a "credit event" had occurred on some of its securities, which triggered a payout on some of Russia's credit default swaps - instruments used by investors to insure exposure to debt against default. This was triggered by Russia failing to make a US$1.9 million payment in accrued interest on a payment that had been due in early April.
    Until the Ukraine invasion, a sovereign default had seemed unthinkable, with Russia being rated investment grade up to shortly before that point. A default would also be unusual as Moscow has the funds to service its debt.

    The OFAC had issued a temporary waiver, known as a general licence 9A, in early March to allow Moscow to keep paying investors. It let it expire on May 25 as Washington tightened sanctions on Russia, effectively cutting off payments to US investors and entities.
    The lapsed OFAC licence is not the only obstacle Russia faces as in early June the European Union imposed sanctions on the NSD, Russia's appointed agent for its Eurobonds.
    Moscow has scrambled in recent days to find ways of dealing with upcoming payments and avoid a default.
    President Vladimir Putin signed a decree last Wednesday to launch temporary procedures and give the government 10 days to choose banks to handle payments under a new scheme, suggesting Russia will consider its debt obligations fulfilled when it pays bondholders in roubles.

    "Russia saying it's complying with obligations under the terms of the bond is not the whole story," Zia Ullah, partner and head of corporate crime and investigations at law firm Eversheds Sutherland told Reuters.
    "If you as an investor are not satisfied, for instance, if you know the money is stuck in an escrow account, which effectively would be the practical impact of what Russia is saying, the answer would be, until you discharge the obligation, you have not satisfied the conditions of the bond."



    Russia slips into default zone as payment deadline expires - CNA

  24. #299
    Chinese spy sabang's Avatar
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    Heh, the Default that isn't. Already handled elsewhere- the Russians have plenty of funds to pay the Coupon, and the fact that the US is denying them the means to do so in USD is well known. Some Creditors, as I understand, have already elected to take their interest payment in Rubles- which after all, is the Worlds strongest currency of 2022. The others will just have to sit on their hands and wait- 'Force Majeure'. Just seems like harming your own banking and financial sector to me, to claim some hollow 'moral victory'- but everyone has already seen through it.

    Maybe seize some more Oligarch yachts instead?

  25. #300
    Thailand Expat
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    Quote Originally Posted by harrybarracuda View Post
    Not only are countries actively seeking reliable energy partners,
    Update on:

    1. ME "agreement to supply energy to Germany", confirmed by "arry, some months ago'

    2. More recently, by 'arry, "countries actively seeking reliable energy partners".

    28 Jun, 2022 12:21 HomeWorld News

    Macron and Biden private oil output chat revealed

    The French president told his US counterpart that the UAE leader had claimed his country was already pumping “at maximum” .

    "Oil-rich countries Saudi Arabia and the UAE cannot radically increase crude production anytime soon, French President Emmanuel Macron was overheard saying to his US counterpart Joe Biden on Monday.The leaders were contemplating how to curb Russia’s oil revenue without triggering more energy price increases.

    The brief conversation between Macron and Biden was filmed by reporters on the sidelines of the Group of Seven (G7) summit in southern Germany.

    Macron told his US counterpart that he had a call with Emirati leader Sheikh Mohammed bin Zayed Al Nahyan. “He told me two things. ‘I’m at a maximum [production capacity]’. This is what he claims,” Macron said.

    The French president continued: “And then he said [the] Saudis can increase by 150 [thousands barrels per day]. Maybe a little bit more, but they don’t have huge capacities before six months’ time.”

    Emirati Energy Minister Suhail Al Mazroui clarified on Twitter that “the UAE is producing near to our maximum production capacity based on its current OPEC+ production baseline” of 3.168 million barrels per day. He said the Gulf state would stay “committed” to the same baseline until the end of the year.
    Western countries have been looking for ways to curb Russia’s revenue from the oil trade, all while trying to avoid further energy price hikes at home. Saudi Arabia and the UAE were seen as nations with spare capacity to boost oil production in order to reduce prices, according to Reuters."

    DDOS-GUARD

    Yesterday's status:

    1. No current agreement.

    2. No additional supply available, prior to January 2023.

    3. Any increase in additional supply, post December 2022, subject to OPEC+ members agreement.

    4. 'arry's assertions debunked. By western media reports.

    In conclusion, a trend seems to be growing regarding 'arry's "sanctions and economic" forcasts.
    Last edited by OhOh; 29-06-2022 at 01:23 PM.

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