{"id":460526,"date":"2022-06-09T22:11:13","date_gmt":"2022-06-09T19:11:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russia-adds-9-5b-to-emergency-fund-as-sanctions-hit-default-looms\/"},"modified":"2022-06-09T22:11:13","modified_gmt":"2022-06-09T19:11:13","slug":"russia-adds-9-5b-to-emergency-fund-as-sanctions-hit-default-looms","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russia-adds-9-5b-to-emergency-fund-as-sanctions-hit-default-looms\/","title":{"rendered":"#Russia adds $9.5B to emergency fund as sanctions hit, default looms"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c8a5f224f5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c8a5f224f5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/russia-adds-9-5b-to-emergency-fund-as-sanctions-hit-default-looms\/#%E2%80%9CRussia_adds_95B_to_emergency_fund_as_sanctions_hit_default_looms%E2%80%9D\" >&#8220;Russia adds $9.5B to emergency fund as sanctions hit, default looms&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CRussia_adds_95B_to_emergency_fund_as_sanctions_hit_default_looms%E2%80%9D\"><\/span>&#8220;Russia adds $9.5B to emergency fund as sanctions hit, default looms&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Russia poured <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $9.5 billion into an emergency fund as it scrambles to withstand Western sanctions that have severely damaged its economy and placed the country at risk of default.<\/p>\n<p>The infusion of cash came from proceeds in the sale of Russian oil and gas. The Kremlin has continued to reap huge profits from energy exports despite economic penalties and trade restrictions in response to Russia\u2019s brutal invasion of Ukraine.<\/p>\n<p>\u201cThe funds will be used in part to implement measures aimed at ensuring the stability of economic development in the conditions of external constraints,\u201d the Kremlin said in a statement on the funds.<\/p>\n<p>Russia is using the emergency fund to cover domestic deficits, pay for <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> programs such as pensions and fortify the country\u2019s largest companies in the face of international sanctions, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/europe\/russia-adds-95-bln-emergency-reserve-fund-2022-06-09\/\">according to Reuters<\/a>. The Kremlin previously added the equivalent of $13.56 billion to the fund in May.<\/p>\n<p>The European Union has mulled imposing a full embargo on Russia oil and gas shipments in response to the invasion. However, a ban has yet to be implemented, with some nations raising concerns that it would trigger a full-blown energy crisis for nations heavily reliant on Russian energy.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-03.jpg?w=1024\" alt=\"Russian President Vladimir Putin\" class=\"wp-image-22596656\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-03.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-03.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-03.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Western sanctions over the Ukraine war have crippled the Russian economy.<\/figcaption><figcaption><span class=\"credit\">SPUTNIK\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>As of May, Russia\u2019s revenue from oil shipments was up 50% compared to the previous year, according to the International Energy Agency, with the country earning about $20 billion each month, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-12\/russia-oil-revenue-up-50-this-year-despite-boycott-iea-says#xj4y7vzkg\">Bloomberg reported<\/a>.<\/p>\n<p>The oil revenue is one of few lifelines available to the Russian economy, which has sputtered since the raft of international sanctions were implemented. Western nations have frozen roughly half, or about $300 billion, of Russia\u2019s foreign currency and gold reserves.<\/p>\n<p>An analysis by the Institute of International Finance projects the Russian economy will contract 15% this year and an additional 3% in 2023 \u2013 erasing 15 years of economic progress, according to Reuters.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-02.jpg?w=1024\" alt=\"Russian rubles\" class=\"wp-image-22596655\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-02.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-02.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-02.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Russia recently added more than $13 billion to the same emergency fund.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/Bloomberg Creative<\/span><\/figcaption><\/figure>\n<p>Russia is also scrambling to avoid the first default on its foreign debt since World War I.<\/p>\n<p>Earlier this month, an international panel determined that Russia had committed a \u201cfailure to pay\u201d credit event by missing an interest payment on an overdue dollar-denominated bond. The White House recently indicated that it expects a default to occur in the near future.<\/p>\n<p>Meanwhile, top Kremlin spokesman Dmitry Peskov accused the West of \u201cpushing Russia into an artificial man-made debt default\u201d through its sanctions.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/09\/russia-adds-9-5b-to-emergency-fund-as-sanctions-hit-default-looms\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Russia adds $9.5B to emergency fund as sanctions hit, default looms&#8221; Russia poured approximately $9.5 billion into an emergency fund as it scrambles to withstand Western sanctions that have severely damaged its economy and placed the country at risk of default. The infusion of cash came from proceeds in the sale of Russian oil and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":460527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/russia-fund-sanctions-99.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[130112,72134,91513,4975,70868,126128],"class_list":["post-460526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-9-22","tag-debt","tag-kremlin","tag-russia","tag-ukraine","tag-ukraine-war"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=460526"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/460526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/460527"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=460526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=460526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=460526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}