Russia Bond Default Coming? How Broke Is Russia Really?

Is a Russia bond default coming this weekend? Russia had bond interest due today that they needed to pay in US dollars. Did Russia pay their bonds interest today? Is a bond default coming since the OFAC did not extend an exemption on Russia Sanctions to let them pay US investors on bond interest, principal and dividends? Russia stated that they will pay bonds in Rubles if they are not allowed to pay them in US Dollars.
How much of Russia's reserves did the US and other countries freeze? Russia had about $630B in reserves before they invaded Ukraine. About $284B of it was frozen by seven countries. Can Russia pay its external debt with the money they have left? It seems that the Russian sanctions are actually backfiring because Russia's current account surplus is now projected to be $250B for 2022 which is more than double from last year. Some groups like the IMF say that the sanctions can drive countries away from the US dollar.

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[buckingchet]

NICK.. U KNOW WHAT UR PROBLEM IS? UR TOO DAMN SMART FOR SOME OF THESE PEOPLE ! RUSSIA IS BEING PUNISHED COZ THEY WANT TO BE FREE!

[TrailRunnerLife]

Unfortunately, many in our society accept a political landscape that values our leaders' purported "intentions" over the actual outcomes created by their actions - so self-defeating sanctions, prolonging wars to the detriment of our so-called allies, and extra judicial government actions are par for the course at this point.

[isavana]

What was Russia thinking about? So the West has been telling us all our lives that in the West there is freedom, democracy, equality and inviolability to real estate. But by such actions, the West has shown what it really is.

[nntflow]

I'm fine if they are default on their debts. The poorer the Russians became, the better off Europe would become.

[pathologicaldoubt]

Unsubbed. Surely “the big H” would welcome your western neo-isolationist foreign policy. To illuminate the potential long term risks of these unprecedented sanctions is one thing but to lean into populist right wing meme trolling foreign policy, suggesting Russia doesn’t deserve to be isolated for their actions (which quite seriously stifles their ability to carry on their invasion), is an entirely different can of worms and deserving of criticism. You lost a follower, a long time viewer and fan, and fellow American, for your repugnant and irresponsible video. Slava Ukraine

[Martin-sztu]

Hi Nick, as always thanks a lot for providing such detailed details about really specific topics.

I remember a similar incident in 2015 with the Argentinean sovereign debt. Short story long: Argentina was paying its debt in time, however the country lost a lawsuit against Paul Singer's Elliot Management. The judge (Thomas Griesa), ordered Argentina to pay the total amount, without considering the RUFO trigger, which basically meant that Argentina must pay 100% of the debt for its previous defaulted creditors.

Argentina decided to not comply with the judge, so Griesa ordered it to redirect all the payments for the new bonds to Elliot. As a result, the Argentinean government decided to change the payment bank, from NY to Banco Nacion in Argentina - but they keept the currency as USD.
As a result of these actions, Argentina was declared in technical default and all the CDS were triggered paying the total amount.

I personally heard really weird stories: Some people received the bond interest and capital payment in Argentina, while at the same time also were rewarded with the CDS insurance. If I am not mistaken, one of the bonds related to all this case was the Ro15 ISIN:ARARGE03F144