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They could potentially bankrupt the entire Russian banking system and push the ruble into worthlessness. Enjoy a year of unlimited access to The Atlantic—including every story on our site and...
The decision by the United States, Europe and others to freeze about $300 billion in Russian central bank reserves has been useful in cutting the size of the piggy-bank Putin has to bribe his...
The US is imposing sanctions on 278 members of Russia's parliament, for enabling the referendums to annex four regions of Ukraine. It is also targeting 14 people connected with its defence industries.
The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at American banks, in a move meant to ratchet up...
But Russia can likely still tap around $300 billion in foreign currency and gold reserves after the U.S. and various other governments said they would cut off the Bank of Russia’s ability to...
The World Bank’s chief economist, Carmen Reinhart, warned on Thursday that Russia and its ally Belarus were “mightily close” to default. A key test will come on Wednesday next week, when the...
It will cost almost $1 trillion per year to service the U.S. debt by 2031. Either serious budget cuts, tax increases, or both will be necessary. Even killing all domestic discretionary outlays ...
The U.S. has banned all Russian oil imports. Private industry has largely gotten onboard, too. Brand-name business after brand-name business is exiting the country or temporarily suspending...
It comes as Russian foreign minister Anton Siluanov said on Thursday that Russia would make foreign debt payments to Western countries in rubles. This is likely to be unpalatable to Western...
How Russian President Vladimir Putin Will Bankrupt His Country Putin's war spending and military forays are dragging Russia into an arms race it can't afford. Lior Alkalay Oct 1, 2015 12:18...