Banknotes and coinsMOSCOW, 16 Mar. Russia, in response to Western sanctions that froze more than half of the Central Bank's reserves and potentially threatening default, made a «cunning» decision, allowing individuals and companies to repay loans to «unfriendly» countries in rubles, and not in foreign currency, writes The Conversation. at least an inventive solution that aims to indirectly get the support of foreign banks,» the author of the article notes. He recalled that the new anti-Russian sanctions directly affect persons borrowed from foreign banks, but the depreciation of the ruble significantly increases the likelihood of a massive increase in non-payments. In this situation, the permission of the Russian authorities to repay debts abroad in rubles makes it possible to shift the «management» of the national currency from the Central Bank to international banks.Anti-Russian sanctions will cause chaos in the US economy, the expert believes «In this way, Moscow convinces them to indirectly support the Russian economy in order to avoid the depreciation of their loans,» the observer explained. Response to creditors In early March, Russian President Vladimir Putin signed a decree allowing the return of Russia's debts in rubles. The Central Bank then explained: to creditors from countries that have imposed sanctions, payments should go only in rubles to special accounts in banks, to the rest — in rubles or, if there is a special permit, in the currency of the debt. Russia's external debt as of January 1, 2022 , according to the Central Bank, amounted to 478.2 billion dollars, of which 62.56 billion accounted for state administration bodies. The Ministry of Finance, after the presidential decree, announced that it would fulfill its obligations under sovereign bonds in a timely manner and in full. According to him, payments on Eurobonds to residents will be in rubles, and to non-residents — according to issuance documents, but in fact the possibility of such payments will depend on whether they can be made under the imposed sanctions.
Give science freedom. Scientists talked about how to resist sanctionsRussian special operationRussia on February 24 launched a military operation in Ukraine. President Vladimir Putin called its goal «the protection of people who have been subjected to bullying and genocide by the Kiev regime for eight years.» For this, according to him, it is planned to carry out «demilitarization and denazification of Ukraine», to bring to justice all war criminals responsible for «bloody crimes against civilians» in Donbass. In response, the West imposed new anti-Russian sanctions. In particular, several of the largest banks, including Sberbank and VTB, fell under them. The European Union, the USA, Canada and a number of other countries have closed the skies for Russian aircraft. A number of state-owned companies found it difficult to attract foreign capital. Sanctions have been imposed on the supply of high-tech products to Russia.
