Default on some of your debts and see what it does to your credit and what it will cost you to borrow again later on.
That’s why they would care.
The Russians basically aren't allowed to participate in the Western economy due to sanctions. Again, I ask, why would they care about defaulting on some loans?
As someone else pointed out, the only losers are Western bond holders. If it weren't for the sanctions, the Russians would have made the payments. FJB?
I see what you’re saying but They have the gold and can honor their debts.
Doing that would take money away from their war efforts with Ukraine.
Bond payments to western holders can be paid out of seized Russian assets if need be.That’s really fugging funny. The proceeds if they can sell them in the next 5 years goes to Ukraine and Biden. Bond holders ain’t going to see a dime. Plus the fact that Biden shut off the only way to sell off such worthless bonds.
https://www.congress.gov/bill/117th-congress/senate-bill/4283S.4283 - A bill to authorize the confiscation of assets of the Russian Federation and the use of such assets to offset costs to the United States of assistance to Ukraine.
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Offset costs TO the USA “ not to Ukraine.That is fuggin funny, I agree.
LMAO again, here’s the other one.
The Asset Seizure for Ukraine Reconstruction Act would enable the federal government to confiscate and sell assets worth more than $2 million from sanctioned Russians or foreigners linked to the Russian government.
The legislation stipulates that funds derived from the sale of oligarch assets would be used "only for the benefit of the people of Ukraine," including refugee support, post-conflict reconstruction, humanitarian assistance and military assistance.In an effort to curb Russian censorship, funds would also go toward technology and services circumventing Russian efforts to shut down internet or communication services and bolstering Ukraine's cybersecurity capabilities.
Under the proposal, people who provide information leading to the seizure of assets would be eligible for cash rewards administered by the Treasury Department, though the bill doesn't specify how much those rewards could be.
By enabling the government to seize and not simply freeze assets, the proposal gives the Department of Justice "increased latitude to act swiftly in preventing the liquidation of assets by Russian oligarchs," Sen. Roger Wicker (R-Miss.)—who co-sponsored the legislation alongside Sen.
Sheldon Whitehouse (D-R.I.), Lindsey Graham (R-S.C.) and Richard Blumenthal (D-Conn.)—said in a Tuesday statement.
Though its fate in Congress remains uncertain, the proposal builds on a bipartisan House bill introduced earlier this month
And how’s about this tidbit
Janet Yellen says 'it would not be legal now' for the US to seize Russian government assets to pay for Ukraine reconstruction.
