June 27, 2022 at 04:15 Russia defaults on foreign debt Russia failed to pay an installment on the foreign debt by the deadline on Sunday and has thus defaulted on debt for the first time in over a hundred years. Several media outlets, including Bloomberg and the BBC, write that Russia failed to make an interest payment of 100 million dollars that was due on Sunday. Russia has the money and is willing to pay, but due to the sanctions after the invasion of Ukraine, it has become impossible to transfer the money to the foreign creditors, writes NTB. According to the contracts, the payment must be made in dollars, but Russia has offered to pay in rubles, without it being accepted.
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