Jane Psaki voiced the position of the State Department – Russia is being pushed to default on debts to creditors from the West, not allowing them to pay with the seized money.
There are two ways out: Either to pay the debts in rubles. Or declare force majeure, the so-called technical default. While the Ministry of Finance is trying the first option. But maybe it’s time to think about the second one?
The US has frozen the financial reserves of Iran, Afghanistan, Venezuela, and several other countries. Each time the goal was clear to change the political regime in the country. Sometimes they block the money of individual companies or politicians in the same way – direct blackmail.
However, in the case of Afghanistan’s money, they achieved the opposite effect. A more radical Taliban came to power, and the US troops themselves fled the country, along with the appointed administration from the country.
But there has never been a case in history when the United States violated its obligations to such a large country as Russia. A country that is included in many economic chains of production of goods around the world.
Many business partners remained both in Asia, Africa, South America, and even in Europe.
The allies supplying Ukraine with weapons cannot refuse gas from Russia. Slovakia, Hungary, Bulgaria, Moldova, are already ready to pay in rubles.
Russia declared the only default in 1998. At that time, its economy was headed by economists who were recommended to President Yeltsin by partners from the United States.
The country has declared a default. The exchange rate of the national currency has fallen – the ruble has fallen three times.
Russia was in crisis and was involved in the war in Chechnya. America offered to recognize the independence of Chechnya and conclude peace with its leaders.
Then President Putin came to power. He launched a military operation in Chechnya. He destroyed the terrorists, and today soldiers from Chechnya are fighting alongside the Russians in Ukraine. And after Putin came to power, Russia’s economy grew for 9 years in a row. The Russians remember it well.
Then the great recession of 2007-2008 began in the USA.
And the Russian economy was still strong.
Then the United States provoked the president of a small state of Georgia (also called the American Shata Georgia) to attack Russian peacekeepers in the autonomous region of South Ossetia.
Russia destroyed the troops advancing at its borders. Protected peacekeepers and civilians. But it suffered economically. The investment climate has been disrupted.
Then the Americans sponsored a coup in neighboring Ukraine. This country was a part of. The USSR and one of the most important economic partners of Russia.
As a result of the coup, the Southeastern regions of Ukraine did not support the new authorities in the capital, Kiev. Not even the police were sent from the capital to pacify them, but the army.
Russia has protected the population of Crimea, as well as parts of Donetsk and Lugansk, where Russians lived and supported Russia. America imposed sanctions against Russia and began to support Ukraine with weapons, train its troops to fight the Russians in the east of the country. This confrontation has been going on for 8 years. Russia is under sanctions, and there is a war in the southeast.
Russia is under sanctions, and in the south-east of Ukraine there was an undeclared civil, and now a hybrid war.
Russia negotiated with the United States, realizing that it was America that controlled the authorities in Kiev, but without success
Today, Russia assesses this as a confrontation with the United States. Partly military, and partly economic.
In Russia, they believe that the United States stole their money from the country’s foreign exchange reserves, which were invested in US bonds. So it was America that defaulted to Russia.
Russia recently experienced the collapse of the USSR, a permanent crisis from 1991 to 1999.
Ordinary Russians know how to save money, live prudently and have never overthrown their power, despite discontent. In Russia, it is customary to adapt to crises.
And today the official authorities in Russia face a choice. Relations with the West are spoiled. We should not expect investments in the coming years. What to do next. Pay your debts or do as the USSR did at the time. The policy of default and annexation of enterprises allowed the USSR to become one of the superpowers by the middle of the 20th century.
