[quote=Eugene][quote=jficquette]
Russia owes $400B to mostly western banks. If oil gets back to where it belongs which is around $25 a barrel and stays there for a few months then Russia will likely default along with Dubai and probably others.
John[/quote]
This is only accurate if you include private debt (in which case, I’m not sure if it’s appropriate to talk about the default of Russia as an entity). Russian government public debt is around 100B, and only 40B of that is held by western banks.[/quote]
It includes private debt to Russian companies in the oil and gas business and other enterprises.
