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Russia’s debt default will drag Europe into default

Former President Medvedev: Russia's debt default will drag Europe into default - Photo 1.

Deputy Chairman of the Russian Security Council Dmitry Medvedev. (Photo: Tass)

Commenting on European Commission President Ursula von der Leyen’s comments that Russia’s default was only a matter of time, Medvedev said: “Oh, let’s see.” Two things are obvious, he said.

“Russia’s default will drag Europe with it, both morally and practically,” Medvedev wrote on Telegram. He said that the EU’s financial system is not very stable and people are losing confidence.

He said the EU authorities should think about “the strong attitude of the European people that the Russians cannot be blamed for hyperinflation, the lack of basic food in the shops and the large influx of refugees”. casting, thereby triggering a wave of violent crime.”

“In that case, the people in Brussels will have to change their tune. Otherwise, fires that stink from tires will appear on the streets of Europe in the glory of Maidan heroes,” the former Russian president wrote.

Earlier, in an interview with a German newspaper Bild am SonntagMs. von der Leyen said that Western sanctions are causing Russia’s economy to wobble, as hundreds of large companies and thousands of professionals leave Russia and the country’s GDP is expected to shrink by 11% this year. . Therefore, she believes that Russia’s default is only a matter of time.

Tass Citing information from the Russian Finance Ministry, Russia’s foreign debt as of February 1 this year was 59.5 billion USD, of which 38.97 billion USD was in the form of foreign bonds.

Russian Finance Minister Anton Siluanov said Russia will only repay its debt in foreign currency if its foreign exchange reserves are unblocked. Otherwise, Russia will pay its debt and fulfill its obligations abroad in rubles.

Russian officials have repeatedly emphasized that there is no real basis for Russia to default on its debt, but that the situation was caused intentionally.

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