Author Topic: Russia Slides Into Historic Debt Default as Payment Period Expires  (Read 274 times)

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Russia Slides Into Historic Debt Default as Payment Period Expires
By Elliot Smith, CNBC Published June 26, 2022 Updated 2 hours ago

https://www.nbcbayarea.com/news/business/money-report/russia-on-the-brink-of-historic-debt-default-as-payment-period-expires/2929828/

Russia has entered its first major foreign debt default for over a century, after a grace period on two international bond payments lapsed on Sunday night.

Interest payments totaling $100 million were due on May 27 and subject to a grace period which expired on Sunday night. Several media outlets have reported that bondholders have not received the payments, after Russia's attempts to pay in its ruble currency were blocked by international sanctions.

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