Geopolitics

Russia to continue to pay foreign debt despite sanctions: Ministry - Yeni Safak English

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DW NOTE

Russia has defaulted twice in the past thirty years — 1998 and 2022 — and both times announced it would keep paying. The 2022 default happened not because Russia lacked dollars but because sanctions blocked the transfer rails. Saying you'll pay means nothing if correspondent banks won't clear the wire.

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For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

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