GerogeI:


You do not understand because you are one of the minions who think somebody somewhere in the Americas owns the whole world and can sanction you.

Your analysis are wack because as a citizen you are subject to a government, so your account can be frozen as the government is superior to you.

Russia is a sovereign government, US is an equal colleague. US cannot punish or pass judgement on an equal government. So Russia is simply saying for all our debtors who are in the US, or Europe, we have made available your money, hold your home government responsible if they block the funds from flowing into your accounts.


This way, the US and allies will be shooting them selves in the foot by their sanctions, just like they did with oil. Since they will only be punishing their own citizens only. So Russia will hence forth be using the so called frozen funds to be paying their debtors from western countries.

Please I'm kinda confused, this might be a stupid question but why do countries not house their own foreign reserve on their own soil or is that the prerequisite of a foreign reserve. Is it like a Nigerian opening an account in Ghana and saving in Ghana cedis, won't it be possible to create the account in Nigeria and save in that currency, just like we do with a dollar account?

US is NOT
like CBN

Sanchez01:
You can't supposedly make a payment from a frozen asset. It's like owing and then the bank, CBN or EFCC had already frozen your account but then you tell your debtor "I have the money but can't touch it because it is frozen. However, I have written a cheque, now it is up to the CBN or EFCC (to unfreeze my account in order for my debt to be made) and they should be held responsible if my debt is not cleared."

I don't understand how these Russians think or do things.

buJu234:
When u have nuclear weapons u can really do anything and say anything..

Can a non nuclear power nation say this??

Without the creditor nations going after them via seizing their foreign assets like they did to Argentina, India Airways etc

They will seize the living nonsense from Russia. Just wait and let their lenders declare them as a defaulter.

Mynd44:

This is different as this is about countries and not individuals.

The bondholders are Americans etc whose countries froze the accounts. These countries also froze accounts of people who are not even linked to the war atlethes etc.

Now Russia is doing the same. The West imposed sanctions so the people cann pressure Putin. Putin has also held these funds there so the bondholders can pressure US and co to lift the sanctions

You're right, not until Putin and Russia has been pressured to withdraw from Ukraine.
What's the cogent reason behind the Russian attack on Ukraine?
Look at how humans like ourselves have been slaughtered and displaced like "chickens".
Regarding the holders of Russia's debt (bond holders), if it had been issued in ruble, Most international investors wouldn't have held them. This is a Russia that has a history of defaulting on it's debt obligations.
Afterall Russia can also sanction the USA(if they have not already done so) but they will be hurting themselves the more.
America is not just called world power for nothing.

danteg:

Please I'm kinda confused, this might be a stupid question but why do countries not house their own foreign reserve on their own soil or is that the prerequisite of a foreign reserve. Is it like a Nigerian opening an account in Ghana and saving in Ghana cedis, won't it be possible to create the account in Nigeria and save in that currency, just like we do with a dollar account?

No. It is actually called foreign exchange reserves and below is how and why it works:

Foreign exchange reserves can include banknotes, deposits, bonds, treasury bills and other government securities. These assets serve many purposes but are most significantly held to ensure that a central government agency has backup funds if their national currency rapidly devalues or becomes all together insolvent.

It is a common practice in countries around the world for their central bank to hold a significant amount of reserves in their foreign exchange. Most of these reserves are held in the U.S. dollar since it is the most traded currency in the world. It is not uncommon for the foreign exchange reserves to be made up of the British pound (GBP), the euro (EUR), the Chinese yuan (CNY) or the Japanese yen (JPY) as well.

Economists believe that it is better to hold the foreign exchange reserves in a currency that is not directly connected to the country’s own currency in order to provide a barrier should there be a market shock.

Sanchez01:
You can't supposedly make a payment from a frozen asset. It's like owing and then the bank, CBN or EFCC had already frozen your account but then you tell your debtor "I have the money but can't touch it because it is frozen. However, I have written a cheque, now it is up to the CBN or EFCC (to unfreeze my account in order for my debt to be made) and they should be held responsible if my debt is not cleared."

I don't understand how these Russians think or do things.

If u are owing CBN and CBN freeze your account should u still pay CBN ?

MangekyoAlt:

Russia's debt is actually smaller than I expected. Meanwhile USA's external debt is bigger than their entire GDP. 20.94 trillion USD to 30 trillion USD debt
Imagine say na USA receive these sanctions wey russia receive. There would've been no hope for their stupid asses

The US is the most indebted nation on Earth. What is still saving them is the us$ being used for business all over the world

They run the global financial systems, that's there saving grace.
But one-day it may bust

Sunisonflex39:
Ah...am I the only one that fail to understand what's up there...this one is bigger than me mehn

Let me explain or simplify.

Russia made proposed payment for debt funds long before the war( like issuing a postdated cheque) but it was unknown to bond share owners. Russia knew that was gonna happen. So, it got the bond liabilities on the bond share holder countries and individuals of which Westerners Carr the most. So what the US and the west sanctioned is actually the dividends belonging to the bond share holders. Though some portion belongs to Russia but it's negligible

Sanchez01:
You can't supposedly make a payment from a frozen asset. It's like owing and then the bank, CBN or EFCC had already frozen your account but then you tell your debtor "I have the money but can't touch it because it is frozen. However, I have written a cheque, now it is up to the CBN or EFCC (to unfreeze my account in order for my debt to be made) and they should be held responsible if my debt is not cleared."

I don't understand how these Russians think or do things.

There's sense in nonSENSE

2016easy2017:



Let me explain or simplify.

Russia made proposed payment for debt funds long before the war( like issuing a postdated cheque) but it was unknown to bond share owners. Russia knew that was gonna happen. So, it got the bond liabilities on the bond share holder countries and

individuals of which Westerners Carr the most. So what the US and the west sanctioned is actually the dividends belonging to the bond share holders. Though some portion belongs to Russia but it's negligible

Thanks boss..their matter tire me..na waiting man go chop today be the problem now..Sapa dey..make Dem settle abeg

mrvitalis:

If u are owing CBN and CBN freeze your account should u still pay CBN ?

Except the Euro bonds are NOT owned by the US government but by companies, mostly financial institutions. Just because they are in the United States does not make them government controlled.

And note, Euro bonds can be issued anywhere and denominated in any currency. Russia Euro bond's could have been issued in China and denominated in US dollars.

A sanction on Russia's reserves led them here and as much as they are struggling to even the fight, it is ridiculous to issue a cheque to your lenders and ask them to go meet the entity that froze your assets just because you want to pay.

RedEnergy:
It will end in disgrace and crisis for America over this Russia matter las las

SMH..

jcross19:
ate you sure? America sanctioned Russia but their economy is facing a terrible inflation!!! Who is deceiving who? Go and get your fact right!!!

Just walk to any Nigerian bank right now and study the downward slop of the Russian Ruble compared to that of the US dolls and tell us who is facing terrible inflation right now... If your phone is smart enough, you can save yourself the stress of going to the bank sha

NGArmyTerrorist:
My love for Putin! They have the money in their foreign account which is in US and they want to use that money to pay, they are not spending shi shi from Russia paying for those bonds. Since the bond had matured, US should unfreeze the account so that creditors can get their money back simple. Russia had messed up US.. The ball had been shifted to the court of US; let's hear their reasons and defence on why they will not unfreeze the account so that creditors can their their money back. Russia not owing anybody. US is becoming useless day by day! Holding US in the scrotum!

What is US business with bondholders or Russian creditors,US has no business with them.....US is indeed d only standing superpower, imagine USA seizing Russia money and he cannot roll on the ground with USA like a bear & a lion in mortal combat....someone you are claiming equal power with you cannot do without her currency$$$$
holding US by the scrotum my foot!

Sanchez01:

Except the Euro bonds are NOT owned by the US government but by companies, mostly financial institutions. Just because they are in the United States does not make them government controlled.

And note, Euro bonds can be issued anywhere and denominated in any currency. Russia Euro bond's could have been issued in China and denominated in US dollars.

A sanction on Russia's reserves led them here and as much as they are struggling to even the fight, it is ridiculous to issue a cheque to your lenders and ask them to go meet the entity that froze your assets just because you want to pay.

Stop saying what u don't know
Your father sized my reserve and u still expect me to pay you ?

I have approved the payment it's left for the west to allow their companies suffer or not

djon78:



The US is the most indebted nation on Earth. What is still saving them is the us$ being used for business all over the world

They run the global financial systems, that's there saving grace.
But one-day it may bust

Dangote is probably a billion times more indebted than you.. But it doesn't mean u are one tenth as rich as him.. The debt doesn't matter if it can be serviced.. And only Texas has a bigger economy than the whole of Russia

How

ecolime:

They are simply telling all their creditors they have more than enough money to service their debts. But US has frozen the money, so dont disturb us. Tell the US to unfreeze it

Russia is right on this one IMO. It's an artificial default.. lol

This guy's level of madness na grade 1.

BTW, Ukraine has accepted to be a neutral state so why prolong the war again?

As if you don’t know. The sanctions hasn’t been lifted, hence the war is not going to end until the aims for the war is achieved

GerogeI:


Yes, this is a big possibility, but the real truth is that there ain't so many countries rich in oil and gas, and capable in technology, and with a stable government able to prevent war from Russian territories. So investors will readily lend to Russia, again and again as long as they issue that directive for Payment and the funds exist. Who is more risky to lend to, Russia or Nigeria?

Now I know many argue blindly here. Only government held investment funds with a political mandate symphathic to russia will be willing to invest in their debt market right now.

Even their stock and capital market remains closed because most international companies are are the door waiting to exit the economy.

Neither the economy of russia nor ukraine will come off better from this war

https://www.aa.com.tr/en/russia-ukraine-war/russia-s-stock-market-to-remain-closed-this-week/2534261

EkperemoEgbabi:


The guy u quoted doesn't have an advanced brain to understand what you have just written.

I noticed its a common trait with Putin supporters,their brain capacity is very very low.

mrvitalis:

Stop saying what u don't know
Your father sized my reserve and u still expect me to pay you ?

I have approved the payment it's left for the west to allow their companies suffer or not

Just stick to PDP/APC bants. This is beyond your thought process.

naijapower:

Siluanov says the country has all the funds necessary to pay off foreign debt



https://www.rt.com/business/552061-russia-makes-bond-payment/

Sense no go kill Russia

Sanchez01:

Except the Euro bonds are NOT owned by the US government but by companies, mostly financial institutions. Just because they are in the United States does not make them government controlled.

And note, Euro bonds can be issued anywhere and denominated in any currency. Russia Euro bond's could have been issued in China and denominated in US dollars.

A sanction on Russia's reserves led them here and as much as they are struggling to even the fight, it is ridiculous to issue a cheque to your lenders and ask them to go meet the entity that froze your assets just because you want to pay.

In other words, Russia can rob a bank to pay them. Companies that are located in USA.

shogz89:
US have been printing more dollars for years..

You comparing US with Russia?US can print more $$$$$to clear all her debt if she wish but Russia can't print USD,her rubble is useless no country will accept it.

Get it right.
Russia is not banking with the US. The US technically owes Russia money through US bonds.
It's like me owing you money and them you say because I beat my wife, you are not going to pay me.
Meanwhile I have given a bank cheque (draft) to my debtors and you are the MD of my bank.
I will just tell my debtors to still cash the cheque I have them shikena.

Now it is between you and my debtors, no longer my concern.

HitRun:


From your submission, there are two different scenarios here. Russia can go to arbitration to challenge the freezing of their funds. But their obligations to their lenders have nothing to do with their accounts. You owe a lender, you pay. The lender is not interested in whether you are having challenges with your accounts or not. You have a problem with your account, go solve it; it is not your lender’s problem.

Why is everyone expecting russia to service their debt, when the same people they are oweing money are holding alot more dan wat is been owed.

If america can hold dia money illegally, ofcus Russia can decide not to pay dem too. it is dia own form of sanction on dia corporation and individuals who are the bond holders.

When america/west does it, it is right.. when Russia does it is wrong

Well u see d build up to the debt default by Russia by the west media agency, it is anoda propaganda agenda to negatively portray Russia...

You will soon see news that says Russia has defaulted (fake defaultment)which is a lie because they do have money to pay.

See d mistake Russia made was holding half of dia reserve in western country, they have learnt and all countries watching too have learnt (except Nigeria �)... It is time to diversify from USA dollar as someone suggested up dia.

Final conslusion, we as a country think we are free, with d power wielded by d western country towards a country as powerful as Russia, I really hope we don't disagree on anything because dats is d end of us as a country ecomically. So are we really sovereign if our money with dem can be seized anytime !!

Dmacqh:
This is a thread you can’t find those clown chasers and tribal bigots .
Thread for the brainy not for selfie addicts .

It’s a power game .
The lender does not need to know why you can’t service your debt . All he cares is for you to pay your debt at the right time .
It’s left for you to source it and repay your debt as at when due .
In this case , Russia wants to play smart . The lenders has no business with the sanctions or US . They need their money from the borrower ( Russia ) .
Whatsoever way , Russia get fund to pay them isn’t their concern .

Asking US and the West to unfreeze their external reserve of $300b so they can honor the bond of $177m they have drawn from it , knowing their external reserve is banned from their use isn’t smart but stupidity.

Bank freezes your account on the order of EFCC , now you gave out a Cheque to your creditor with same account , telling him or her to meet EFCC so they can allow him/her access the fund in your account .. wtf .

And to those shouting US have debt more than Russia ..lol .
As I am , I owe my caretaker #20,000 , but GTB are owing Innoson about $2.2b , doesn’t it mean I’m richer than GTCo or GTB ?

Frankiss44:


Dangote is probably a billion times more indebted than you.. But it doesn't mean u are one tenth as rich as him.. The debt doesn't matter if it can be serviced.. And only Texas has a bigger economy than the whole of Russia

Oga what is saving US is simply the $ used in doing business and there complete control of the global financial systems since the end of 2nd world war

The day money is decentralized is the day there wahala starts

Before the 2nd world war before the forming of Brentwood institution, currencies were supported with gold determining there values but the US and her Anglo Saxon brothers changed the game.

The dollars circulating around the world today are just ordinary papers. What's there underlining security?

Other nation's are getting wiser and very soon, there will be demand for equality, equity and fair play.

Ordinary rapid increase in the price of crude oil, the US economy is facing untold inflation causing the Fed yesterday to increase interest rate.

Some of you think it's only you that have knowledge and grasp of these things.
And many of you are the problem we have in Nigeria, you may be involved with some of Nigerian banks treasury or CBN but many of you have never helped Nigeria's economy.
Na all these una kalou kalou and vodoo economics that has kept Nigeria the way she is economically.

You can imagine quoting dangote, you think you are talking to a novice

My thinking thinking is this Ukraine has its foreign reserve in dollar just as Russia. Russia carry tanker and bomb Ukraine to rubbles. Ukraine will now use its foreign reserver and its economy will go into complete coma while Russia will go back home to Moscow and drink tea and its foreign reserve intact. Whatever Putin is smoking, the thing strong wella

GerogeI:


You do not understand because you are one of the minions who think somebody somewhere in the Americas owns the whole world and can sanction you.

Your analysis are wack because as a citizen you are subject to a government, so your account can be frozen as the government is superior to you.

Russia is a sovereign government, US is an equal colleague. US cannot punish or pass judgement on an equal government. So Russia is simply saying for all our debtors who are in the US, or Europe, we have made available your money, hold your home government responsible if they block the funds from flowing into your accounts.


This way, the US and allies will be shooting them selves in the foot by their sanctions, just like they did with oil. Since they will only be punishing their own citizens only. So Russia will hence forth be using the so called frozen funds to be paying their debtors from western countries.

Isn't that Stupidity of the highest order?it just means he is only causing more problems for himself and Russia because this will discourage anyone from ever giving Russia financial aid in the future if they manage to survive this suicide mission Putin put them into.

China should take lessons from this singular act of Putin because if they give him money,he will NEVER pay back because he thinks he has nukes so nobody can checkmate him. What a bastard

wisdomIspeace:
Why is everyone expecting russia to service their debt, when the same people they are oweing money are holding alot more dan wat is been owed.

If america can hold dia money illegally, ofcus Russia can decide not to pay dem too. it is dia own form of sanction on dia corporation and individuals who are the bond holders.

When america/west does it, it is right.. when Russia does it is wrong

Well u see d build up to the debt default by Russia by the west media agency, it is anoda propaganda agenda to negatively portray Russia...

You will soon see news that says Russia has defaulted (fake defaultment)which is a lie because they do have money to pay.

See d mistake Russia made was holding half of dia reserve in western country, they have learnt and all countries watching too have learnt (except Nigeria �)... It is time to diversify from USA dollar as someone suggested up dia.

Final conslusion, we as a country think we are free, with d power wielded by d western country towards a country as powerful as Russia, I really hope we don't disagree on anything because dats is d end of us as a country ecomically. So are we really sovereign if our money with dem can be seized anytime !!

This Russian debacle has awakened many nation's about the danger of depending solely on the West

Brazil, India, even Turkey including Russia and many countries have started plans to copy China's model of reducing dependence on the West.
From finance to internet, to create there own national identity

I believe it's good for the world
There should be balance
Simple

torqque7:


Isn't that Stupidity of the highest order?it just means he is only causing more problems for himself and Russia because this will discourage anyone from ever giving Russia financial aid in the future if they manage to survive this suicide mission Putin put them into.

China should take lessons from this singular act of Putin because if they give him money,he will NEVER pay back because he thinks he has nukes so nobody can checkmate him. What a bastard

It's not stupidity
You froze his money
He is not poor or in lack of money
The money he had, which was his you froze and you expect him to sit and watch you play kalou kalou with his money

No he is smart

You think it's only the West that get Sense

There should be balance!!!
because they dominate internet and everything u find it hard to hear Russia side of the story..
It is now I understand why china wat they did by providing alternative to western media and banning dem in dia country.

djon78:



This Russian debacle has awakened many nation's about the danger of depending solely on the West

Brazil, India, even Turkey including Russia and many countries have started plans to copy China's model of reducing dependence on the West.
From finance to internet, to create there own national identity

I believe it's good for the world
There should be balance
Simple

MangekyoAlt:

Russia's debt is actually smaller than I expected. Meanwhile USA's external debt is bigger than their entire GDP. 20.94 trillion USD to 30 trillion USD debt
Imagine say na USA receive these sanctions wey russia receive. There would've been no hope for their stupid asses

Assuming the figures you threw around are correct, who will sanction USA?.