Samson » April 6th, 2022
For the first time, Russia is paying in rubles a debt it borrowed in dollars
6th April, 2022
The Russian Ministry of Finance announced today that it has repaid foreign loans to dollar-denominated bonds in the Russian ruble, after a US correspondent bank refused to complete payment orders in the US currency
Thus, for the first time, Russia has paid for foreign loans in Russian currency
According to a statement issued by the Russian Ministry, an amount of $649.2 million was paid to foreign lenders in the Russian currency. Foreign Execution of orders in foreign currency
The Russian Ministry indicated in the statement that the payment process took place last Monday, April 4, 2022 LINK
The Russian-Ukrainian War Threatens The End Of The Dollar In The World
6th April, 2022
A report by the British newspaper, Mail in Guardian, confirmed that the repercussions of the Russian-Ukrainian war and the moves of the United States, the European Union and the United Kingdom may mean the end of the dollar in the world as a result of the lack of confidence in the policies of America, which is using the currency as a weapon for economic sanctions.
The report, which was translated by the “Information” agency, stated that “the confiscation of Russia’s $300 billion reserves by the United States, Britain and the European Union may push other countries that deal in dollars or euros to secure themselves by moving away from the dollar in order not to face the same situation that Russia faces.”
He added, “The threat to the dominance of the dollar is only one part of the repercussions. Complex supply chains, built on a stable trading system based on the principles of the World Trade Organization, are also threatened with collapse. The United States is discovering that Russia is not just an oil country as they thought, but also supplies the world with many vital materials that the United States needs for many industries in addition to its military not to mention the fact that Russia is also a major supplier of wheat and fertilizer.”
He continued, “The seizure of Russian money means that confidence in the United States as a global banker and in the dollar as a global reserve currency puts it in doubt, so why should countries maintain any trade surplus and spend it abroad if this surplus can be seized at will through sanctions imposed by the West?
He explained that “the theft by the United States of the reserves of the Afghan Central Bank, amounting to 9.5 billion dollars, means that America considers the dollar reserves of another country, which are maintained by the American Central Bank, as its money, as the United States government can seize this asset whenever it wants.”
He pointed out that “the imposition of sanctions against countries such as Iraq, Libya and Venezuela and the confiscation of their assets has led to long-term negative effects on these countries, and therefore the world is moving towards securing itself, which will lead to the collapse of dealing in dollars, which means the end of US economic hegemony over the world.” LINK
The US Treasury deals a blow to digital currencies
6th April, 2022
The US Treasury has sanctioned a cryptocurrency exchange operating in Moscow and St Petersburg, Russia, and sanctioned a Russian market on the darknet
This decision is a severe blow to digital currencies that have been booming in the past weeks, especially after the exacerbation of European and American sanctions on the Russian financial system
The US Treasury decided to impose sanctions on the Hydra market and Garantex crypto exchange in the Russian Federation
US Treasury Secretary Janet Yellen said the sanctions against Hydra market and crypto exchange Garantex are sending a message to criminals that they cannot hide in the dark web
It said the new sanctions prohibit US citizens from providing or receiving any assistance or providing money, goods or services to either Hydra or Garantex
The US Treasury added, on its website, that it will seek in the coming days to freeze any assets they have
It is reported that the Hydra market accounted for nearly 86% of the illicit bitcoin received directly by Russian crypto exchanges in 2019, according to several studies LINK
Source: Dinar Recaps
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