How much is Russia’s foreign debt worth in the shadow of sanctions?

SAFAKNA TURKEY – According to the report on the execution of Russia’s budget for the nine months of this year, the country’s external debt as of October 1 reached $56.59 billion.

According to this report, Russia’s external debt, which stood at $59,702 billion as of January 1, 2022, fell by 5.2 percent to $56.59 billion, according to the Shafaqna translation service.

Russia’s external debt for the first nine months of this year decreased by $311.3 million, or 5.2%.

In terms of the ruble, Russia’s external debt has decreased by 26.7% since the beginning of this year, amounting to 3.249 trillion rubles as of October 1, 2022.

Although more than half of world trade is conducted in other currencies, the US dollar plays a dominant role in trade. The euro also plays an important role, and the share of the Chinese yuan is increasing.

However, the dollar is still the most used currency in international trade with a 40% share on commodity exchanges.

America is willing and able to provide unlimited access to foreigners to acquire local assets. In other words, America is the largest economy that is willing and able to run deficits to meet the foreign asset buying needs of countries with foreign income surpluses.

Currently, the total US financial obligations to the rest of the world are $53 trillion.

TR.SHAFAQNA.COM