Default: For the First Time in a Century, Russia has Not Repaid its Government Debt in Foreign Currency
- Tweet
Send to Kindle
For the first time since 1918, Russia has failed to repay its government debt in foreign currency, according to Bloomberg.
For months, Russia has wavered on the brink of default, today is the culmination of the financial battle that the United States and other countries are waging against the Kremlin over the invasion of Ukraine.
The grace period for missed bond payments of about $100 million, blocked due to widespread sanctions, ended last night.
There will be no official declaration, and Russia is already challenging the determination, but if investors do not receive their money by the deadline, there will be a "default" on Monday morning, according to bond documents, Bloomberg said yesterday.
The country's Eurobonds have been trading at troubling levels since early March, the central bank's foreign exchange reserves have remained frozen, and the largest banks have been cut off from the global financial system.
Follow Novinite.com on Twitter and Facebook
Write to us at editors@novinite.com
Информирайте се на Български - Novinite.bg
/OFFNews
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » Lavrov: There are No Negotiations on a New Treaty to Reduce Nuclear Weapons
- » The War in Ukraine made Russia Second in the World in Downloading VPN apps
- » Russia withdraws from the International Space Station
- » Medvedev: European Intellectuals suffer from severe Diarrhea for Fear of Freezing Out
- » Russia added Greece in its List of Unfriendly Countries
- » Lavrov: Russia's "Geographic Goals" in the War with Ukraine are Expanding
