March 17, 2022

Radio Silence on Russia Debt Payments Keeps Default Risk in Play

Source: Bloomberg


Radio Silence on Russia Debt Payments Keeps Default Risk in Play

Thursday marks the start of 30-day grace period for settlement
Russia warns without access to dollars, it’ll pay in rubles

By

Maria Elena Vizcaino, Irene Garcia Perez, and Giulia Morpurgo

March 16, 2022, 5:40 AM CDT

Updated on March 16, 2022, 5:38 PM CDT

As the deadline for coupon payments on Russia’s dollar bonds drew to a close Wednesday, there were no signs that holders of the debt had received their cash.

Bondholders in Europe and one in the U.S. said they hadn’t received cash in dollars at the close of business in their respective countries, and weren’t aware if payments were made in either the greenback or rubles into accounts in Russia. They declined to be identified because they aren’t authorized to discuss the matter publicly. The $117 million interest on the two bonds was expected to be settled before the end of the day in New York.

Starting Thursday, the nation has a grace period of 30 days to pay off the coupons in dollars before creditors can determine a default has occurred. If that happens, it will be the nation’s first on foreign-currency bonds since the Bolsheviks refused to service or recognize the czar’s debts over a century ago. In 1998, Russia defaulted on local-currency debt and declared a moratorium on payments for its foreign-currency bonds.

How the nation handles the coupon payments is a critical indicator of the way it intends to manage its relationship with global investors in the future. Not only has it seen its ties with business and political partners disintegrate in the weeks since its invasion of Ukraine, it has also lost its investment-grade ratings and become the world’s most-sanctioned nation.



Read more: https://www.bloomberg.com/news/articles/2022-03-16/russia-s-watershed-moment-for-bonds-is-a-117-million-payment

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I wonder how this fits with CNN reporting that Russia said they had "ordered" the payments to be "sent".

https://www.democraticunderground.com/100216492622


The check is in the mail?

March 5, 2022

Two GOP senators share photos of Zelenskyy during call after being asked not to by Ukraine

Source: NBC News

Two GOP senators share photos of Zelenskyy during call after being asked not to by Ukraine

Senators and House members on a call with the Ukrainian president were asked to not tweet or post pictures of the call while it was in progress, multiple aides told NBC News.

March 5, 2022, 1:20 PM CST
By Haley Talbot, Julie Tsirkin and Nicole Acevedo

Two Republican senators are facing criticism after tweeting photos of a video call with Ukrainian President Volodymyr Zelenskyy even though participating lawmakers were told to not share pictures on social media while it was in progress.

Sens. Marco Rubio of Florida and Steve Daines of Montana posted pictures of Zelenskyy on their Twitter accounts during the Zoom meeting Saturday morning, writing that they were on a call with him.

Democratic Reps. Dean Phillips of Minnesota and Jason Crow of Colorado criticized the senators on Twitter.

Phillips noted that the "Ukrainian ambassador very intentionally asked each of us on the Zoom to NOT share anything on social media during the meeting to protect the security of President Zelenskyy."




Read more: https://www.nbcnews.com/politics/congress/rubio-daines-share-photos-zelenskyy-call-asked-not-ukraine-rcna18841

March 5, 2022

Ukrainian girl surprised with birthday party at refugee camp USA TODAY

March 4, 2022

Safe In My Garden

Safe in my garden,
An ancient flower blooms.
And the scent from its nature
Slowly squares my room;
And its perfume being such
that it's causing me to swoon.
Could it be we were hot-wired
(Safe in my garden, an ancient flower blooms...)
Late one night while very tired?
They stole our minds and thought we'd never know it.
(And the scent from its nature slowly squares my room...)
With a bottle in each hand; too late to try to understand.
We don't care where it lands - we just throw it.

Somebody take us away...
Somebody take us away...

Safe in my garden,
(Could it be we were hot-wired late one night while very tired...)
An ancient flower blooms.
(They stole our minds and thought we'd never know it...)
And the scent from its nature
(With a bottle in each hand; too late to try to understand...)
Slowly squares my room.
(We don't care where it lands - we just throw it...)

(Somebody take us away...)
And it's perfume being such
That it's causing me to swoon.

When you go out in the street, (Safe in our garden...)
So many hassles with the heat;
No one there can fill your desire. (And the scent...)
Cops out with the megaphones,
Telling people stay inside their home.
Man, can't they see the world's on fire?

Somebody take us away...take us away...

Safe in our garden,
An ancient flower blooms.
And the scent from its nature...
(Cops out with the megaphones;
Tellin' people stay inside their homes.)
Man, the world's on fire.)
Slowly squares my room.

Take us away...take us away...