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in a move that could push the country closer to default. the treasury department said it would end a waiver that had allowed us bondholders to accept payments. russia has almost $2 billion worth of payments on its international bonds that will be due up to the end of the year. joining me now is patrick reid, co founder of the adamis principle. i guess the place to start with this is how close it will bring russia to default in common what would happen if it does? thank you for having me on. it isjust another nail thank you for having me on. it is just another nail in the russian economy, and we cannot underestimate the consequences and dangers of a default. it is not quite like 1998, but it is not quite like 1998, but it is not very good for russia long term. now, a ten year yield on a russian bond will get you about 10% right now. that is not enough. russia s central bank raised interest rates to 20%. they are now currently 1a. that is not going to be enough either. es ....
Have been somewhat. the most creative central bank of the last six weeks to make payments, and we are actually in a position now, the rouble hasn t really moved overnight, we are actually in a position now where the rouble is far too high, and this is a problem for the central bank, and putin has mentioned this. mentioned this. patrick, from russia s point mentioned this. patrick, from russia s point of mentioned this. patrick, from russia s point of view, - mentioned this. patrick, from russia s point of view, its - russia s point of view, its credit rating would be shot, but other creditors could write to its rescue? to its rescue? yes and no. it is basically to its rescue? yes and no. it is basically anyone to its rescue? yes and no. it is basically anyone that - to its rescue? yes and no. it| is basically anyone that wants to get involved in the russia macro picture, which was largely seen before the invasion, had to be a certain dna. the likes of blackrock, the likes of p ....