George Friedman, Geopolitical Futures
Russian Deputy Finance Minister Sergei Storchak said on Jan. 18 that Russia is considering not making any more loans to foreign governments during the current economic crisis, according to Russia's Interfax news agency. Storchak said, "The budget is strained, more than strained. I think we are in a situation where we are forced to take a break from issuing new loans." It is not quite clear how this will affect loans that the Russian government has promised but not yet closed. In particular, Russia has committed to a billion loan to Iran, which is in the process of closing. Storchak said,...