Default in Russia/Illustrative photo
Russia was once again able to avoid default and paid its Eurobonds in dollars, as it received money from countries that buy gas and oil from it. However, the situation may change later.
Military expert Oleg Zhdanov, on Channel 24, said that the Russians again prevented an external default thanks to the money received daily for energy. . After all, some countries are 80-85% dependent on energy, they cannot suddenly give up on them.
According to the expert, because of the sanctions, Russia is already receiving much less money. And such a lack of money from gas and oil sales could lead to internal default.
And if the EU or the supplier countries freeze their accounts and stop transferring money to Russia for these hydrocarbons until the conflict is resolved, then the aggressor country will be very hurt. – Zhdanov said.
He convinces that this would be an ideal plan, because Russia does not have access to external accounts, in particular gold and foreign exchange reserves.
“And if the currency does not arrive every day, then for Russia it will actually be a technical default,” the expert added.
How Russia avoided default
Severe sanctions imposed on Russia prevented it from using its international reserves to pay off debts. But on May 3, Russia did make a payment on Eurobonds, Bloomberg confirmed this.
To pay off its debts, Russia used its internal reserves. The United States could have blocked the payment, but allowed it so that the aggressor country would deplete domestic reserves.
When is default possible? The next important date is May 27th. Then Russia is waiting for the next redemption of Eurobonds. If he does not do this, then the default will come on June 25.
Note that sooner or later the default will catch up with Russia. Indeed, in general, the aggressor country has an internal debt in foreign currency in the amount of 18.07 billion dollars, as of April.
