A BlueBay Asset Management strategist has estimated that there's now an 80% chance Russia will be forced into a "nightmare" default on its foreign-currency-denominated bonds.

Timothy Ash told Insider on Tuesday that a default is more likely after the US Treasury blocked the Russian government from making payments using American banks.

BlueBay's senior emerging-markets sovereign strategist added that the default might hurt US bondholders but that it's "their own fault" for investing in the country.

JPMorgan is Russia's foreign-correspondent bank. The US Treasury on Monday blocked the bank from processing more than $600 million worth of maturity and coupon payments on dollar bonds, a person familiar with the matter told Insider.

A spokesperson for the US agency told the Financial Times: "Beginning today, the US Treasury will not permit any dollar debt payments to be made from Russian government accounts at US financial institutions."

JPMorgan declined to comment, and the Treasury did not immediately respond to a request for comment.

Ash, a veteran emerging-markets strategist, said Russia has enough dollars to pay. That's because it still has access to a chunk of its foreign-currency reserves, and it is earning money from oil and gas exports.

The bigger problem is that the government is likely to struggle to find banks that are willing to process its payments, he said.

"International banks would unlikely want that business. You may end up with Gazprombank, or someone like that, trying to do it," he told Insider. Gazprombank is Russia's third-largest bank, but it has escaped sanctions due to its importance in natural-gas markets.

"If you're a US fund, how do you get your money? Even if, let's say, Gazprombank processes the payment, they'll then be paying to the US fund's US bank account," the BlueBay strategist said.

Ash said a default would be a "nightmare" for Russia in the longer term. He said it's hard to see a typical negotiation process taking place between investors and the government, adding: "There's no light at the end of the tunnel."

The BlueBay strategist said foreign bondholders would likely be hurt by the Treasury's move.

But he added: "If you're long Russia — given all the warnings, given the track record over the last decade, and then the warnings late last year — it's your own fault.

https://markets.businessinsider.com/news/bonds/russian-debt-default-likely-us-treasury-blocks-bond-payment-sanctions-2022-4[/quote]

Putin no go have any choice but to put up Russia for auction ...

Gra Gra no dey pay, you go learn the hard way.

When the west is done with you, you go enter prison in Hague for war crimes and Russia go return to the stone age..

This Ode want to bamba and do kiti kiti with the west..

Who born you..?

Las las like covid we go see end of this

plaindealer:
Putin no go have any choice but to put up Russia for auction ...

Gra Gra no dey pay, you go learn the hard way.

When the west is done with you, you go enter prison in Hague for war crimes and Russia go return to the stone age..

This Ode want to bamba and do kiti kiti with the west..

Who born you..?

You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

This whole power trip is funny from the start.

I wish the west would succeed to bring Russia to its knees with their sanctions but then... it is very much in doubt.

They can't hurt Russia without hurting their own economy too.

This whole mess just proved Russia s vulnerability to the whole world.

Their only weapon now can be said to be nuclear

It's about to go down low.

USA is just too foolish and filled with ego and bully.
How will Russia ever be in a nightmare?

They think we are still in the 20th century
Russia is very well prepared for this.
Your sanctions is very watery
Russia is not like Syria, Venezuela, Iraq, Zimbabwe etc.
Russia is still trading fine and well with China which the biggest economy of the world at the moment.
THE SANCTIONS IS EVEN HITING HARD ON USA'S ECONOMY MORE AT THE MOMENT

This war is not really between Russia and Ukraine, it's more of a war between Russia and USA and USA is losing
Senseless zelensky just sacrificed his land to be used as battle ground and nobody ever wins in a war that's brought to their home ....



God bless Russia.
End of petrodollar.

America and their ways of doing things...

Financial Nuclear Weapon (FNW)

When NATO is done with Russia, Nigeria will be sending financial aids to Russia

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

When are you relocating to North Korea for greener pastures?

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

It's even sad that you reduced Russia's status to a Pariah status like North Korea.

Sadly for you, life in North Korea is hell on earth, a country where people are hungry and basically leaving an almost medieval lifestyle because of crippling sanctions.

I don't think you want to go and live in NK, I dare you.

Back to Russia, Russia's case is more serious than North Korea's because its total global isolation and not just economic and financial isolation.

Russia is totally banned from global social and cultural events, sports events like FIFA soccer, Olympics, and so on.

Russia is in deep trouble, you just don't know, but you will in the next few weeks and months when Russians start lining up on the side of the street for bread and food rations.

Putin

Like America don turn villagers, sitting on top Russia Case

southsouthking:


When are you relocating to North Korea for greener pastures?

Putin village people remembered him this year.

PEACE PEACE PEACE is all we want in our world �

Wahala for countries Russia owes


Russia has an external debt of $150 billion USD

Russia's foreign reserves is $600 billion USD

Oil and Gas revenue even with sanctions and war $4billion USD monthly

France , US and UK where smart enough to quickly freeze Russian Accounts and asset incase of bad debt


.

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

Who told you North Korea is surviving? It’s a slave enclave with high rate of EXTREME poverty.

Go watch videos of its citizens who escaped North Korea and hear first class info. It’s poverty riddled.

Same with Russia, the economy has not bounced back from previous sanction in last decade and you here talking about them getting of present doom.

Russia is just a advanced Nigeria in Europe. It got loads of hungry citizen

Russia that you can hardly earn $1000 a month, and if you do, you def the biggest boy in your boulevard

Hunger is very real in those countries. But dictatorship sensors reality.

plaindealer:
Putin no go have any choice but to put up Russia for auction ...

Gra Gra no dey pay, you go learn the hard way.

When the west is done with you, you go enter prison in Hague for war crimes and Russia go return to the stone age..

This Ode want to bamba and do kiti kiti with the west..

Who born you..?

you are a kid. You mean a powerful nation like Russia should be America Puppet abi. Nonsense

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

Why is this? How can you compare North Korea's sanctions to Russia's? Who does that? How do you expect Russia to weather the sanctions storm when they are about to default on bonds? So you think the US will actually let Russia and the Western World buy oil from Russia using Russian Rubles just so the Dollar can be useless?

The fact that you think or claim North Korea is doing well says a lot. A country with nearly 70% of its citizens back flipping in abject poverty is doing well. Indeed.

I understand you are pitching your tent with Russia but no new world is happening anytime soon. The US economy war on Russia is not to force Putin to resign but to take Russia back and destroy its economy so bad that it won't think of flexing its economic power in the next decade or two.

Muammar Gaddafi also tried to convince African countries to dump the USD and opt for a unified payment, specifically Gold. Guess what happened to him. Saddam Hussein? Forget the fact that Russia is in Europe. The US is out to protect its interest.

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

You actually think North Korea is doing well? Read up about the standard of living over. They are suffering like Job. A country with zero to 1 percent foreign investment/investors.

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

It will take Russia years to find her fulcrum and that still doesn't mean that Russia would turn out fine. The end of this war would be equally as disastrous for native Russians just like it would be for native Ukrainians. Putin would mutate into a full blown dictator, he would shield off Russia from the entire west or possibly the entire world leaving Russians who have known freedom their whole live to be bedeviled by debilitating constraints from the bald headed dictator. Russia would be the new North Korea. Is part of the reason why smart ass Russians who have seen this coming are against this war. Utterly outrageous!

BOW TO USA AN KNOW OEACE MR PUTIN


WHEN USA WAS INAVADING TERRORIST HEADSLAMMERS


NO COUNTRY COULD COUGH


USA IS INDEED POLICE OF THE WORLD

Westernpropagander at its best .... where the oppressor always play the victim .. and their supporters see dem as gods .. God bless Putin

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

If you call nk life survival, its laugable, only 1 family is living the closest to what life is. Have you seen the way their soldiers defy being shot just to cross to sk? And thats soldiers ooo, d occupation wey dey give access to individual power ooo.

Hmmm

The United States is the only global super power, by this they have all the power and strateges to bend any country to their taste.The effects of these sanction are long term so we do not expect Russian economy to cripple today.

kb83:
You don't understand international politics very well am sorry. You forgot the same sanctions were placed on North Korea for years and yet the survived to the point that the West does not have leverage over them today, sanctions sometimes is good, it helps you look in words and prevents over reliance on others, I tell you, if Russia whethers the storm of this sanctions, prepare yourself for a new World Power.

You really make me laugh. Do you actually know the level of poverty that is in North Korea?!.. You said survived, Bro North Korea is still suffering from it, they are surviving in Poverty. Oh it is because of what their president portrays to the world that made you say so?.

plaindealer:
Putin no go have any choice but to put up Russia for auction ...

Gra Gra no dey pay, you go learn the hard way.

When the west is done with you, you go enter prison in Hague for war crimes and Russia go return to the stone age..

This Ode want to bamba and do kiti kiti with the west..

Who born you..?

Like them put Iran for auction abi

Sanchez01:

Why is this? Who can you compare North Korea's sanctions to Russia's? Who does that? How do you expect Russia to weather the sanctions storm when they are about to default on bonds? So you think the US will actually let Russia and the Western World buy oil from Russia using Russian Rubles just so its currency can be useless?

The singular fact that you think or claim North Korea is doing well says a lot. A country with nearly 70% of its citizens back flipping in abject poverty is doing well. Indeed.

I understand you are pitching your tent with Russia but no new world is happening anytime soon. The US economy war on Russia is not to force Putin to resign but to take Russia back and destroy its economy so bad that it won't think of flexing its economic power in the next decade or two.

Muammar Gaddafi also tried to convince African countries to dumb the USD and opt for a unified payment. Guess what happened to him.

As an Africa if you don't see anything wrong in the killing of Gaddafi by the west.

Then apparently, Africans are what the whites call them.

take the slave chain off your neck, wrist and ankles... a dog with a chain and leash at this stage does have more value than you.

by the way get your US flag drapped over you while i get my eba with vegetable soup with water to sip am down... the movie is about to begin and its a long movie (weeks/months)...

plaindealer:
Putin no go have any choice but to put up Russia for auction ...

Gra Gra no dey pay, you go learn the hard way.

When the west is done with you, you go enter prison in Hague for war crimes and Russia go return to the stone age..

This Ode want to bamba and do kiti kiti with the west..

Who born you..?