“The latest attempt at inflicting maximum punishment and pressure on Russia amid its grinding war in Ukraine has many scratching their heads, as the US is now set to block Moscow’s ability to pay its sovereign debt – though ironically which Russia appears ready and willing to pay, if it weren’t for the far reaching US-led sanctions imposed on its central financial institutions in the first place.”
(This isn’t a real default…Russia can and will pay but the US is seeking to block payment.)
https://www.zerohedge.com/markets/us-moves-toward-blocking-russian-debt-payments-raising-likelihood-default
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Published by markskidmore
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.
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