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Russia Slips Into Historic Default
Posted
June 27, 2022
Views
15,720
Likes
160
Comments
81
Engagement
1.53%
June 27, 2022
15,720
160
81
1.53%
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0:44Now PlayingRussia defaulted on its external sovereign bonds for the first time in a century, the culmination of ever-tougher Western sanctions that shut down payment routes to overseas creditors.
For months, Russia had found paths around the penalties imposed after the Kremlin’s invasion of Ukraine. But at the end of the day on Sunday, the grace period on about $100 million of trapped interest payments due May 27 expired, a deadline considered an “Event of Default” if missed.
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