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Russia Defaults on Foreign Debt for First Time Since 1918
Russia Defaults on Foreign Debt for First Time Since 1918
June 27, 2022 at 2:20 am EDT By Taegan Goddard 6 Comments
https://politicalwire.com/2022/06/27/russia-defaults-on-foreign-debt-for-first-time-since-1918
"SNIP.......
“Russia defaulted on its foreign-currency sovereign debt for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors,” Bloomberg reports.
“For months, the country found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of snared interest payments due May 27 expired, a deadline considered an event of default if missed.”
.......SNIP"