12-06-2014, 01:43 PM
54% of Russia’s external debt has maturity of over two years (unspecified); 10% is between 1 and 2 years whereas about 23% has maturity of 1 year or less. For part of the external debt, the schedule is not available or inexistent (debt without schedule). Of that part of debt that is coming due within 1 year, the biggest redemptions will be in December 2014 - with 32 USD billions of banks and other sectors’ debt coming due - and Q5-2015, with 28 billion.
Whose is Russia’s external debt? | Silvia Merler at Bruegel.org
The IMF says the real effective exchange rate (REER) rose 130pc from 2000 to 2013 during the commodity super-cycle, smothering everything else. Non-oil exports fell from 21pc to 8pc of GDP.
Oil slump leaves Russia even weaker than decaying Soviet Union - Telegraph
It is not a stretch to say that American regulatory power has never been so far-reaching, or imperial. The result is that Russian banks, companies and state bodies are shut out of the global capital markets, unable to roll over $720bn of external debt.
Oil slump leaves Russia even weaker than decaying Soviet Union - Telegraph
Andrey Kuzyaev, head of Lukoil Overseas, said it costs $3.5m to drill a 1.5 km horizontal well-bore in the US, and $15m or even $20m to drill the same length in Russia. "We're lagging by 10 years. Our traditional reserves are being exhausted. This is the reality for our country," he said. Lukoil warns that Russia could ultimately lose a quarter of its oil output if the sanctions drag for another two or three years.
Oil slump leaves Russia even weaker than decaying Soviet Union - Telegraph
A liquidity crunch is rapidly taking hold across the financial system. "The market is shut. Not a single Russian entity has been able to borrow anything in dollars, euro or yen since early July," said Mr Weafer.
Vladimir Putin's pointless conflict with Europe leaves it a vassal of China - Telegraph
Exxon Mobil Corp.’s work on a $700 million Arctic well in Russia could be stopped before it’s finished under new U.S. and European Union sanctions that outlaw the drilling partnership.
Exxon’s $700 million Russian Arctic oil well hangs on sanctions
Nor can Russia retreat into Soviet autarky. It is locked into global finance. The International Energy Agency says Russia needs to invest $100bn a year for two decades just to stop its oil and gas output declining.
Vladimir Putin's pointless conflict with Europe leaves it a vassal of China - Telegraph