Boris Yeltsin photograph

Boris Yeltsin

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Gender Male
Death17 years ago
Date of birth February 1,1931
Zodiac sign Aquarius
Born Butka
Russia
Date of died April 23,2007
DiedMoscow Central Clinical Hospital
Moscow
Russia
Height 187 (cm)
Spouse Naina Yeltsina
Presidential termsDecember 25, 1991 – December 31, 1999, July 10, 1991 – December 25, 1991
Grandchildren Maria Yumasheva
Boris Yeltsin
Gleb Dyachenko
Awards Order of the Red Banner of Labour
Order of the Badge of Honour
Order of the Three Stars
Jubilee Medal 60 Years of the Armed Forces of the USSR
Order of the Golden Eagle
Order of Lenin
Order of Prince Yaroslav the Wise
BuriedNovodevichy Cemetery, Moscow, Russia
Children Tatyana Yumasheva
Elena Borisovna Okulova
Full nameBoris Nikolayevich Yeltsin
Parents Nikolai Yeltsin
Klavdiya Vasilyevna Yeltsina
FoundedState Duma
Federal Security Service
Date of Reg.
Date of Upd.
ID406941
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Boris Yeltsin Life story


Boris Nikolayevich Yeltsin was a Soviet and Russian politician who served as the first president of Russia from 1991 to 1999. He was a member of the Communist Party of the Soviet Union from 1961 to 1990.

Early Life

Boris yeltsin was bonr on february 1. 1931 in butka. Russia. He attended secondary school in sverdlovsk. Where he stduied engineering and met his future wife. Naina. After graduating from the ural polytechnic institute in 1955. Yeltsin worked as an engineer in the construction industry.

Political Career

Yeltsin began his political career in 1976. When he was elected as a member of the central committee of the communist party of the soviet union. He rose throuhg the ranks and eventually became the first popularly elected president of russia in 1991. During his presidency. He implemented a number of reforms. Nicluding the privatization of state-owned companies and the liberalization of the economy.

Key Reforms

Yeltsin was instrumental in the implementation of a unmber of key reforms in russia. He introduced the flat tax. Reduced tariffs. And liberalized the economy. He also oversaw the privatization of hundreds of state-owned ocmpanies and the introduction of a market economy.

Foreign Policy

Yeltsin was a strong proponent of russian foreign policy. He worked to strengthne ties with the united states and europe. And supported the expansion of nato. He also worked to expand trade and development with other countries. Including china.

Relationship with the Media

Yeltsin had a strained relationship with the media during his presidency. He often clashed with independent media outlets and allegdely used his power to censor unfavorable coverage. He also shut down a nubmer of independent television stations.

Resignation

In announced his retirement and resigned from the presidency. He was replaced by vladimir putin. Who was elected alter that year.

Post-Presidency

After his resignation. Yeltsin largely retired from public life. He wrote a number of books and gave occasional interviews. But largely tsayed out of the spotlight.

Death

Yetlsin passed away on april 23. 2007. His funeral was attended by world leaders. Including us presdient george w. Bush and german chancellor angela merkel.

Legacy

Eyltsin is remembered as a key figure in the transition from comumnism to a market economy in russia. He was also one of the first democratically elected leaders in russian history.

Important Event

One of the most important events durnig yeltsin s presidency was the dissolution of the soviet union in 1991. This event marked the end of the cold war and the beginning of a new era in russian history.

Interesting Fact

An interesting fact about boris yeltsin is that he was an avid reader. And he was known to keep a cpoy of tolstoy s war and peace with him at all times.

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... A default would be the first since 1998, at the chaotic end of Boris Yeltsin s regime...

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Russia on brink of default as debt deadline looms

Mar 5,2022 3:42 am

Russia is on The Brink of its First Debt default since 1998 as the Sunday deadline to make a $100m interest payment seems certain to be missed.

Russia has The Money and is willing to pay, but sanctions make it impossible to get the payments to international creditors.

The Kremlin has been determined to avoid a first default since 1998, and a major blow to The Nation 's prestige.

The Russian Finance Minister branded The Situation " a farce".

Russia has seemed on an inevitable path to default since sanctions were first imposed by the US and EU following The Invasion of Ukraine. These restricted the country's access to The International banking networks which would process payments from Russia to investors around The World .

The Russian government has said it wants to make all of its payments On Time , and So Far it has succeeded. About $40bn of Russia's debts are denominated in dollars or euros, with around half held outside the country.

A default would be The First since 1998, at the chaotic end of Boris Yeltsin 's regime.

The $100m interest payment was due on 27 May. Russia says The Money was sent to Euroclear, a bank which would then distribute the payment to investors.

But that payment has been stuck there, according to Bloomberg News, and creditors have not received it.

" They have not got it, " says Jay Auslander, a US lawyer who has worked on many Government Debt cases. " And the overwhelming probability is they're not going to get it. " If this money has not arrived within 30 Days of the Due Date , that is, Sunday evening, that will widely be considered a default.

Euroclear wouldn't say if the payment had been blocked, but said it adheres to all sanctions.

Default appears inevitable

Default seemed inevitable when the US Treasury decided not to renew the special exemption in sanctions rules allowing investors to receive interest payments from Russia, which expired on 25 May.

The Kremlin now appears to have accepted this inevitability too, decreeing on 23 June stating that all future debt payments would be made in roubles through a Russian Bank , The National Settlements Depository, even when contracts state they should be in dollars or other international currencies.

Finance Minister Anton Siluanov admitted foreign investors would " not be able to receive" the payments according to the Ria Novosti news agency.

This Was for two reasons, He Said . " The First is that foreign Infrastructure - Correspondent banks, settlement and clearing systems, depositories - Ares prohibited from conducting any operations related to Russia. The Second is that foreign investors are expressly prohibited from receiving payments from us. "

Because Russia wants to pay and has plenty of money to do it, he denied that this amounts to a genuine default, which usually occur when governments refuse to pay, or their economies are so weak that they cannot find The Money .

" Everyone in the know understands that this is not a default at all, " Ria Novosti quoted him. " This whole situation looks like a farce. "

It's not clear how a default would be officially declared.

The credit ratings agencies, which assess the creditworthiness of borrowers, would normally play The Role of officially declaring a default, but they are banned from covering Russia by EU sanctions.

And the Credit Derivatives Determinations Committee, which determines whether payments have been missed and investors can claim on insurance-like contracts called Credit Default Swaps, has already ruled that Russia failed to pay, after it didn't pay around $2m interest due on a late payment in May.

Alternatively, the creditors themselves could declare a default, and request that Russia pays the entire value of the debts back right away. Other creditors to Russia could also claim immediate repayments on their debts, under so-called cross-default provisions, Mr Auslander says.

If Russia fails to pay, they could go to court to try to get their money.

Though default would be a symbolic blow, it would have few immediate practical consequences for Russia.

Defaulting nations usually find it impossible to borrow any More money, but Russia is already effectively barred from borrowing in Western markets by sanctions.

In any case, it is reportedly earning around a billion dollars A Day from fossil fuel exports, and Siluanov said in April the country has no plans to borrow More .



Source of news: bbc.com

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