Contents tagged with Russian Debt Default

  • Russia says debt default label is ‘unlawful’

    Russia has defaulted on its foreign debt for the first time since 1918, the year following the Bolshevik Revolution. Moscow, however, claims the necessary payments were made on May 27th.

    Moscow failed to pay approximately $100 million in interest on two bonds during a 30-day grace period that expired Sunday.

    The White House has said the default showed the effect of Western sanctions on Russia.

    "This morning's news around the finding of Russia's default, for the first time in more than a …