AEP: Russia comfy, in position to starve the West
Worst of all worlds: The half-hearted sanctions against Russia have failed
By Ambrose Evans-Pritchard
March 24, 2022 — 4.00am
Russia has not defaulted on its sovereign debt after all. Nor is it likely to do so under the current sanctions regime, and as long as Europe continues to finance Vladimir Putin’s military state with purchases of gas, oil and coal.
The Kremlin is already sufficiently confident to reopen the Moscow stock exchange for bond transactions. The US Treasury’s sanctions office (OFAC) has made life easier by leaving a loophole for sovereign debt repayments, concerned that there might otherwise be a Lehmanesque shock to global finance.
https://www.brisbanetimes.com.au/business/the-economy/worst-of-all-worlds-the-half-hearted-sanctions-against-russia-have-failed-20220323-p5a6zm.html