Rumour is that war with Lithuania was talked about at the meeting. But I suspect to a certain extent thats bravdo. I do think we are entering a new, perhaps more dangerous phase of the war as Russia gets to the point where it cannot advance further. The tipping point we've been waiting patiently for.
But why have an emergency meeting at 11pm about war with Lithuania? It doesn't make sense. Something significant and important happened. The Lithuanian blockade issue has been brewing a few days. You wouldnt have an emergency meeting at 11pm about it.
This on the other hand....
https://www.ft.com/content/b1f725a5-717f-44d4-b35d-aee6abe4b42d
Russia heads towards default as payment deadline looms
Grace period for $100mn in interest payments ends on Sunday evening
Russia could default on its foreign debt for the first time this century as the clock ticks down on a pair of overdue interest payments blocked by western sanctions.
About $100mn worth of interest on Russian government debt is due to bondholders by Sunday night, the end of a 30-day grace period during which the country must make the payments to avoid defaulting.
And
The looming default would be Russia’s first since 1998 and comes after the US Treasury closed a loophole in sanctions last month that allowed American investors to receive payments from Moscow. Reneging on its debt would be a blow to Russia’s prestige and could trigger legal action from some creditors.
And
Russian officials, including finance minister Anton Siluanov, have repeatedly stated that western governments were trying to force the country into an “artificial” default and have persistently sought ways to circumvent the sanctions, saying Moscow would pay in roubles if dollars cannot reach bondholders.
“They can say whatever they want but a contract’s a contract and it clearly stipulates how and when it’s honoured,” said Ash. “As a creditor, you just want your money back, the excuses are meaningless.”
And
Russian president Vladimir Putin signed a decree this week setting out a new mechanism to make upcoming payments in roubles, including a further $400mn due on Thursday and Friday, and then allow investors to convert them into foreign currencies. Unlike some of Russia’s debt, the terms of these bonds do not contain any provisions for making payments in roubles.
And
Since Russia is likely to default because of sanctions rather than a lack of cash, there is expected to be little impact on its population. But “it’s going to be viewed as a big blow to credibility”, said Orlova
This is the time constrained issue for Putin. Interestingly the Kremlin has denied there is an emergency, cos obviously Putin has meetings at 11pm Saturday on a regular basis.
An embarrassing default when obviously everything is ok, is not a good look, and would go a long way to explain rhetoric in the last couple of days.
They need a distraction and to look tough.
Interestingly footage of the leaders of the G7 was released earlier today where they are joking about Putin and his topless horseriding and his need to look tough. They were saying something about taking off jackets and the conversation went to that. I also think the mood and the tone of those jokes in the context of thinly veiled threats to Lithuania is interesting. It doesn't suggest there is a feeling of huge concern amongst the G7. The footage is also pretty friendly and warm and doesn't smack of huge division...
Indeed it also smacks of a feeling that things are going the West's way. Perhaps its over confident, but if Russia are about to default, I think thats probably the exact mood you would be expecting...