It is less widely know that Russia also hold $3b of UK law bonds which, as we explained in detail here,
are callable upon certain covenants that any IMF (or US) loan bailout
will trigger. Russia has 'quasi' promised not to call those loans. It
is, until now, hardly known at all (it would seem) that China is also owed $3bn, it claims, for loans made for future grain delivery to China. It would seem clear from this action on which side of the 'sanctions' fence China is sitting.
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