ROME “Russia’s default could lead to Europe’s default,” said VicePresident of the Security Council and former Russian President Dmitry Medvedev on his Telegram channel. And the risks for EU countries are not limited to that, Medvedev warns: “AntiRussia sanctions can cause hyperinflation in Europe,” he added.
The country’s difficulties were recently exacerbated by the fact that the US banned the Russian government from making any payments from current accounts with American banks a few days ago. Russia is contractually obligated to pay its national debt in dollars, not rubles. Payment in rubles leads to a “selective default, subject to the analysis of the circumstances and the grace period”. Therefore, as stipulated in the contracts, Russia still has some time to pay in dollars.
Refunds on bonds paid in rubles. The Russian default is now just a step away
by Carlotta Scozzari April 06, 2022
Responding to European Commission President Ursula von der Leyen’s words that Russia’s default was a matter of time, Medvedev noted in the post published today: “Well, try it”.
According to Medvedev, “the financial system of the European Union is not very stable and people are losing confidence”. In addition, EU authorities should “expect strong gratitude from Europeans for hyperinflation that cannot be attributed to the vile Russians, for the shortage of basic necessities in shops and for the influx of refugees who are fueling a “crime wave”. will.
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