EXPLAINER: What's the impact of a Russian debt default?

“There is money and there is also the readiness to pay,” Russian Finance Minister Anton Siluanov said last month. “This situation, artificially created by an unfriendly country, will not have any effect on Russians’ quality of life.”

Investors have expected Russia to default for months. Insurance contracts that cover Russian debt have priced a 80% likelihood of default for weeks, and rating agencies like Standard & Poor’s and Moody’s have placed the country’s debt deep into junk territory.Ratings agencies can lower the rating to default or a court can decide the issue.

But sanctions bar dealings with Russia’s finance ministry. And no one knows when the war will end or how much defaulted bonds could wind up being worth.

Source: Loan Digest (loandigest.net)

It doesn’t matter how much you cope, it’s not a default.

So Russian reserves totalled 649 billion and it owes just 40? The frozen reserves be used by the west to pay debt ,the way they used frozen Afghanistan funds to pay for 9/11 bomb victims

ELI5: The West isn't accepting the rubles Russia is paying with, so it can say 'lol your broke'. The other day the gold went up right after the West mentioned the words 'buy, russian, gold, sanctions' together.

Can Deutche Bank enforce their notes anymore? That's Trump, Burisma and Raytheon etc with Deutche Bank/Putin money. Trump his kids, John Kerry & his 'son' Devon Archer, Joe & Hunter, Nancy, Bill & Hillary, Mitch, Devon Nunes, Rudy... Are they now debt free? Is that the why?

I think this default will help Russia. 1.) they now have no debt because they aren't paying it 2.) the West won't loan money to Russia anymore anyway 3.) western loan institutions now have no income from Russia

I would not call it a default if they want to pay it but are being stopped from paying it by western sanctions.

It's interesting watching people be gleeful about this news. The real losers are the nation(s) that loaned Russia money. I admit I have no answers but these issues have global consequences which are good for no one.

d56ui

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