Published 2 years ago

Russia pitches into first major external bond default in century

Summary by Business Standard

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.

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Times of India

Russia defaults on foreign debt for first time since 1918

For months, the country found paths around the penalties imposed after the Kremlins 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.

2 years ago·India

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The Hindu

Russia slips into default zone as payment deadline expires

Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine

2 years ago·India

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The Independent

Russia defaults on overseas debt for first time in years

Russia has denied the claim

2 years ago·London, United Kingdom

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Reuters

Volatile rouble pares intraday losses as Russia slips into default zone

The rouble pared early losses in volatile Moscow trade on Monday as Russia looked set for its first sovereign default in more than a century after a payment deadline expired and the West promised more actions against Moscow over the Ukraine conflict.

2 years ago·United Kingdom

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Hindustan Times

Russia defaults on foreign debt for first time in a century | 5 points

During Russia’s financial crisis and ruble collapse of 1998, President Boris Yeltsin’s government defaulted on $40 billion of its local debt.

2 years ago·New Delhi, India

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Irish Independent

Russia slips into default zone as payment deadline expires

Russia looked set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday following the expiry of a key payment deadline a day earlier.

2 years ago·Ireland

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