Russia Warns On Default Aftermath As Sweden Girds For Disruption

Russia hopes to make sales of at least $1.7 billion during this week’s visit to Peru and Brazil by Defense Minister Sergei Shoigu and senior aides, Moscow’s Kommersant newspaper said. Russia aims to sell its Pansir-S1 and Igla missile systems to bolster Brazil’s air defenses during next year’s FIFA World Cup, Kommersant said citing Russian General Staff. The Pantsir-S is a mobile short-range gun and missile air defense system that combines a wheeled vehicle with radar and electro-optical sensors, two 30-mm cannons and up to 12 57E6 radio-command guided short-range missiles. The weapon is designed to take on a variety of targets flying at low altitudes, RIA Novosti said. Recent developments in unmanned aerial systems or “drones” capable of flying low has raised the stakes in air defense capabilities worldwide. The Igla is a man-portable infrared homing surface-to-air missile designed to counter similar threats in warfare or security-related situations such as Brazil’s sport events in 2014. In talks in Lima, Peru, Tuesday the Russian delegation proposed establishing a servicing and maintenance center in Peru for its Russian- and Soviet-made helicopters. The offer was discussed by Shoigu and his Peruvian counterpart Pedro Cateriano, Russian Deputy Defense Minister Anatoly Antonov said. “Today…that country [Peru] wants to get not only finished goods from us, but also localize the manufacture of arms and military equipment at home,” said Antonov, RIA Novosti reported. In 2012, Russia completed a $20 million upgrade for Mi-25 attack helicopters in the Peruvian air force. The Peruvian military operates about 16 Mi-25 and Mi-35P helicopters.

Russia Cracks Down On Immigrant Home Buyers

First, the Russian government wants to ward off any sort of property bubble and thinks making it harder for foreign real estate investors to buy is one way to keep the lid on prices. Or, more probably, the higher powers in Moscow dont want migrant workers buying up real estate and renting them out to transients. Russias government is currently drafting changes to an existing law on foreign ownership of property that will actually bar foreigners from owning or renting real estate in the country unless Moscow authorities say its okay. The Economic Development Ministry told Rossiiskaya Gazetanewspaper on Wednesday that it is discussing changes with customs and immigration agencies including the Federal Security Service and Federal Immigration Service. The law could come into force by 2015, officials told the paper. The proposed legislation is allegedly being rewritten to prevent the emergence of lower-income shanty towns in major cities, namely Moscow, the Izvestiya newspaper reported on Tuesday. Top level government officials, including President Vladimir Putin and Moscow Mayor Sergei Sobyanin, said they are adamant about keeping low income immigrants from forming ghettos in the city. News of the restrictions comes just days after a southern Moscow suburb was hit by some of the worst riots seen in Russia in years . A mob of young, radical nationalists attacked a food market and fought riot police after 25 year oldYegor Shcherbakovwas knifed to death Orhan Zeynalov from former Soviet state Azerbaijan this week. The protests were targeting the Muslim community in the city. Moscow has been cracking down on illegal immigrants from Azerbaijan and elsewhere all year.

Endangering the dollars standing seems completely insane, Swedish Finance Minister Anders Borg said today, adding that his country will ensure its financial system has access to U.S currency in the event markets are disrupted The more the situation is prolonged, the more far-reaching the consequences, Nabiullina said. Such events result not only in short-term jumps in volatility, but also an erosion of trust in the dollar as a reserve currency and the American financial system as a whole. The U.S. Congress has yet to strike an agreement to increase the nations debt ceiling a day before the government has said it will run short of funds to honor its obligations. In an English-language commentary published Oct. 13, Liu Chang, a writer with Chinas official Xinhua News Agency, called for a new international reserve currency to replace the dollar so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the U.S. Completely Insane As it is an enormous advantage to be a reserve currency it seems completely insane to even contemplate creating insecurity around that status, Borg said. China is the biggest foreign holder of Treasuries, with $1.28 trillion at the end of July. Russia, which as accumulated the worlds fourth-largest international reserves, has reduced its holdings of U.S. government debt by 25 percent from a record high on Oct. 31, 2010, to $131.6 billion in July, according to data compiled by Bloomberg. Weve never been in an equivalent situation before and its therefore very difficult to judge what impact it will have, Borg said in an interview with state broadcaster SVT.