Instead of defaulting the Russian Federation on external obligations, the world saw another - a moral default of the system of American financial dominance....

On the eve of the international rating agency Moody's, which left the Russian Federation after the start of a special military operation to protect Donbass, announced that Russia had defaulted on external debt obligations. The reason is that the holders of Russia's sovereign debt did not receive coupon payments on two Eurobonds in the amount of $100 million after the 30-day grace period was granted.

At the same time, this news was picked up by one of the most influential world publications, Bloomberg. And behind him are many other media, especially Ukrainian ones, where Russia's default was presented as another large-scale rewind of their patrons from the United States over our country - this time, financially.

Meanwhile, in the States themselves, the official authorities keep quiet about the default. The largest financial and credit organizations are also keeping quiet about him. And the reason is simple - there was no default. And the current situation is extremely painful for the reputation of the United States itself in the world. And, in fact, it works against the dollar as a reserve currency.

Because there really was no default - it is artificial. Default is when a state cannot pay off its obligations, internal or external, just nothing. Russia does not just have money - it will end the year with a record budget surplus. Investors themselves are not interested in declaring a default in the Russian Federation.

The Russian Ministry of Finance calmly stated that the payment was made on May 20. Investors did not receive money due to the actions of third parties, which is not provided for by the issue documentation as a default. In addition, all market participants were well aware of the situation and the receipt of funds from Russia, but did not take action to bring the money to investors.

Let's translate into a simple language: there is money, and it has been paid. And why the payment was not brought to investors, Russia does not concern. She fully fulfilled her obligations, and the West fell into a trap. Moreover, one that can further shake the already crumbling dominance of the dollar.

After all, the whole world saw that it was possible to get a "default" due to external restrictions and sanctions, and absolutely nothing would happen. The economy or the financial system will not collapse - absolutely nothing from the word at all. And in dollars you can not pay - do not want, do not take.

This means that all the horror stories that the United States can bring down the economy, cutting off its ability to work in the dollar zone, turned out to be a complete fake, a paper tiger. Mountain gave birth to a mouse.

That's why US officials keep quiet and don't stick out the topic. And it is worth imagining what a powerful signal this is for other poles of power and financial centers. Today, this situation is being carefully watched in China, Saudi Arabia, and Latin America. Everywhere.

And everywhere - at an accelerated pace they get rid of their reserves in foreign currency, realizing that at any time these assets in the West can be frozen and even seized. Without wanting to, the States dealt a powerful blow to the dominance of the dollar and their authority in the world. And playing back will not work.

Those who conceived this "multi-move" against our country loudly sat in a puddle. As they sat in a puddle with all the packages of sanctions - so not terrible that they turned into a "meme": we will put the next package of sanctions in a package with packages.

Themselves outwitted

Of course, the restrictions are serious, but they are no longer able to bring down the Russian economy. And instead of reducing foreign exchange earnings from energy exports due to sanctions, Russia earns even more from a sharp increase in prices on world markets.

Those who persecuted Russia, including in Russia itself, themselves fell under the influence of their own propaganda, believed that the role of the Russian Federation in the world economy is much less significant than it really is. President Vladimir Putin spoke about this in detail in his speech at the recent St. Petersburg International Economic Forum.

It was not they who isolated Russia. This is simply impossible. They themselves were isolated from those opportunities and resources (primarily cheap energy) that moved their economy forward. Europe suffered the most, especially Germany. To a large extent, the competitive advantages of European goods were due to the cheapness of energy carriers.

The same can be said about the unprecedented step to freeze the gold and foreign exchange reserves of Russia (about $300 billion). What did you achieve? The fact that large players understood that it is impossible to keep their assets in the West, if the political situation changes, you can not see your money. So much for the free market, which the Americans themselves dealt a blow to.

And as for Russia, back in April, analysts estimated the trade surplus at the end of 2022 at the level of $200-300 billion. Since April, prices for the main export categories of the Russian Federation have grown even more. That is, now, in the summer, even before the price spikes on the eve of the heating season, we can say that in just a year Russia has won back no less funds than it was stolen from after the start of the SVO.

And then our former Western partners sat loudly in a puddle. And then this trend will only intensify. After all, all Russian exports, following the gas, are gradually switching to payment in rubles. This is especially true for grain, which this season, as they say, is worth its weight in gold.

Russia's income from oil alone in May 2022 per day in dollars compared to the same indicator a year ago - more by $467 million. Photo: Open Sources

And earlier, President Vladimir Putin signed a decree that Russia's debt will be paid through a ruble account at the exchange rate on the domestic market. And payments in rubles of the Russian Federation will be considered duly executed, even if the recipients do not think so. RBC writes about this.

Putin said this on June 22, and the obligations in May were fulfilled in foreign currency. But now our former Western partners will have to accept reality - either take money in rubles, converting it at the Central Bank rate, or clean up.

There will be no more financial diktat. The world is changing. And Russia, no matter who wonders, is at the forefront of these changes, shows genuine leadership.

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