4 ms·

US Blocks Russian Debt Payments

12 points by ushakov 4y ago

simonblack 4y ago
That means the US has broken the contracts first, not Russia. So that means that Russia just walks away from all of those debts. Tough titties for the lending companies.
- darthrupert 4y ago
  There must be a reason why Russia is trying desperately to make those payments, though. Perhaps defaulting is not a good idea for them either?
  - t-3 4y ago
    Of course it isn't. Why would they want to alienate their lenders?
  - simonblack 4y ago
    There must be a reason why Russia is trying desperately to make those payments Why would anybody ruin a good business partnership? Trust is everything in commerce. Even in the deepest depths of the original Cold War, the Soviets always delivered on time, every time. And they paid their bills when they came due. For Russians, a deal is a deal. It might take you a long time to get the Russians to sign on the dotted line but once they do you can take it granted that they will follow through. Some people in Western countries, on the other hand, often leave you counting your fingers after they've shaken your hand.
    - darthrupert 4y ago
      Do you actually believe this? I think the common belief is that Russians cannot be trusted whatever they promise. Doesn't matter if it's in writing or not. But perhaps I'm reflecting their leadership to common people more than is warranted.
      - simonblack 4y ago
        the common belief is that Russians cannot be trusted whatever they promise It was once the 'common belief' that the Sun revolved around the Earth. Being a 'common belief' does not necessarily make it valid. On the other hand, I have dealt with Russians. They are a very moral culture. As I said above, it might take a while to get the Russians to agree on a deal while they negotiate to cross all the 'T's and dot all of the 'I's, but when you have done that they are sticklers for the word of the contract. In the West, not so much. If they sign a deal, you will find they do their best to minimise that deal to their advantage. I once went to both New York and Moscow within about 10 days. I felt far safer in Moscow, than I did in New York.

12 points by ushakov 4y ago

That means the US has broken the contracts first, not Russia. So that means that Russia just walks away from all of those debts. Tough titties for the lending companies.

darthrupert 4y ago
There must be a reason why Russia is trying desperately to make those payments, though. Perhaps defaulting is not a good idea for them either?
- t-3 4y ago
  Of course it isn't. Why would they want to alienate their lenders?
- simonblack 4y ago
  There must be a reason why Russia is trying desperately to make those payments Why would anybody ruin a good business partnership? Trust is everything in commerce. Even in the deepest depths of the original Cold War, the Soviets always delivered on time, every time. And they paid their bills when they came due. For Russians, a deal is a deal. It might take you a long time to get the Russians to sign on the dotted line but once they do you can take it granted that they will follow through. Some people in Western countries, on the other hand, often leave you counting your fingers after they've shaken your hand.
  - darthrupert 4y ago
    Do you actually believe this? I think the common belief is that Russians cannot be trusted whatever they promise. Doesn't matter if it's in writing or not. But perhaps I'm reflecting their leadership to common people more than is warranted.
    - simonblack 4y ago
      the common belief is that Russians cannot be trusted whatever they promise It was once the 'common belief' that the Sun revolved around the Earth. Being a 'common belief' does not necessarily make it valid. On the other hand, I have dealt with Russians. They are a very moral culture. As I said above, it might take a while to get the Russians to agree on a deal while they negotiate to cross all the 'T's and dot all of the 'I's, but when you have done that they are sticklers for the word of the contract. In the West, not so much. If they sign a deal, you will find they do their best to minimise that deal to their advantage. I once went to both New York and Moscow within about 10 days. I felt far safer in Moscow, than I did in New York.