More financial pain for Russia

ARTICLE: "Russia's Stocks Slide 1%, Even With a Trading Halt," by Gregory L. White, Wall Street Journal, 17 September 2008, p. C2.

Prominent economist who advises the Kremlin:

Russia has been practically cut off from external financing and we're much more dependent on them than it seems.

Russia not only needs foreign capital for its energy sector. Lotsa Russian companies are in heavy debt, as "Russian companies and banks borrowed heavily in the West in recent years," with short terms.

$30B comes due 12/31.

Comments

[Steve Barrera]

$30 billion? That won't even bail out 5% of a Wall Street!

[Louis Heberlein]

I can't wait for the Pravda article on how the US financial economic crisis was a Bush CIA scheme to harm Russia.