Russia in historic default as Ukraine sanctions cut off payments

Image caption: The clock on Spasskaya tower showing the time at noon, is pictured next to Moscow’s Kremlin, and St. Basil’s Cathedral, March 31, 2020. Image credit: Reuters / Maxim Shemetov. Article by Karin Strohecker, Andrea Shalal and Emily Chan. Reuters – updated June 27, 2022.

Summary

• Grace period ended on $100 mln interest payment due on May 27
• Russia default shows dramatic impact of sanctions-U.S. official
• Some Taiwan bondholders did not get payment on Monday – sources
• Russia says it has funds to pay, sanctions are to blame […]

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