Russia May Avert Default as Clearinghouse Processes Funds

The transcript discusses Russia's financial situation regarding a $650 million payment, highlighting the involvement of banks like Bank of New York Mellon and Citigroup in processing these payments. It explores the regulatory hurdles and the potential for Russia to avoid default, noting the market's reaction to bond prices and default probabilities. The discussion also touches on the political willingness of Russia to continue payments amidst sanctions.

What are the potential implications of Russia avoiding default as discussed in the text?

What factors might influence Putin's willingness to continue making payments?