ອາ​ເມ​ລິ​ກາ​ເພີ່ມ​ຄວາມ​ກົດ​ດັນ​ຕໍ່ຣັດ​ເຊຍ​ໂດຍ​ສະກັດ​ກັ້ນ​ການ​ຊຳລະ​ພັນທະບັດ, ​ເພີ່ມ​ທະວີ​ຄວາມ​ສ່ຽງ​ຕໍ່​ການ​ຜິດ​ປົກກະຕິ

Topline

The Treasury Department on Monday blocked the Russian government from making sovereign debt payments using dollars held at American banks, a move that greatly ramps up financial pressure on Russia by depleting its dollar reserves and brings the country closer to a potential default—which would have dire consequences.

ຂໍ້ເທັດຈິງສໍາຄັນ

While the Treasury had already frozen Russian government assets held at U.S. institutions under sanctions put in place after the invasion of Ukraine, it had still been allowing use of those funds to make payments on sovereign debt.

As of Monday, however, the Treasury ປະ​ກາດ it will no longer allow Russia to access those dollars as it tries to meet sovereign debt obligations to bondholders.

Russia had over $600 million in combined bond payments due on Monday, which is when the department decided to fully block Moscow’s access to frozen funds, according to the Treasury.

The move will “further deplete the resources Putin is using to continue his war” and forces his government to choose whether to use its own dollar holdings to make debt payments or use the money elsewhere, such as for the war effort in Ukraine, Treasury officials said.

It also greatly increases the risk of a potential default, as Moscow will now be forced to use alternative sources of funding to pay bond investors: While Russia has so far been making its payments, that will likely become increasingly complicated by heavy economic sanctions from the West.

If Russia does default, that will likely drive its last few remaining foreign investors out of the country, further devalue the rouble and Russian companies could follow the government in defaulting on their obligations.

ເລກໃຫຍ່: 40 ຕື້

Russia has a total of 15 international bonds outstanding with a combined face value of roughly $40 billion owed in dollars and euros. If Russia is unable to make those payments, or unable to do so in the correct currency, it will default.

ຂໍ້ມູນທີ່ ສຳ ຄັນ:

“The U.S. Treasury will not permit any dollar debt payments to be made from Russian government accounts at U.S. financial institutions,” the Treasury spokesperson said Tuesday. “Russia must choose between draining remaining valuable dollar reserves or new revenue coming in, or default.”

ຂໍ້ເທັດຈິງທີ່ຫນ້າປະຫລາດໃຈ:

If the current situation does lead Russia to default on foreign currency debt obligations, it will be the first time the country has done so since the 1917 Bolshevik Revolution.

ປະຫວັດຄວາມເປັນມາ:

The latest move from the Treasury Department comes amid increasing calls for more Western sanctions against Russia following the reported massacre of Ukrainian civilians. U.S. President Joe Biden has ເອີ້ນວ່າ Putin a war criminal, while the European Union, meanwhile, is ພິຈາລະນາການເກືອດຫ້າມ on Russian coal imports—the first round of sanctions potentially targeting Russia’s valuable energy markets.

ສິ່ງທີ່ຄວນເບິ່ງ:

Analysts at JPMorgan recently warned that Russia’s invasion of Ukraine, combined with the ongoing real estate market crash in China, could result in the biggest round of corporate defaults since the global financial crisis. The firm predicts that the global emerging market default rate will hit 8.5%, the highest level seen since 2009 (10.5%).

ອ່ານ​ເພີ່ມ​ເຕີມ:

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ທ່ານ Larry Fink CEO ຂອງ BlackRock ກ່າວ​ວ່າ ສົງຄາມ​ຣັດ​ເຊຍ-ຢູ​ເຄ​ຣນ ແມ່ນ​ເປັນ​ການ​ຢຸດ​ຕິ​ການ​ເປັນ​ລະ​ບຽບ​ຮຽບ​ຮ້ອຍ​ຂອງ​ໂລກ ແລະ​ຈະ​ສິ້ນ​ສຸດ​ການ​ເປັນ​ໂລກາ​ພິ​ວັດ (Forbes)