- Russia is close to defaulting on its debt for the first time in decades.
- Two payments totaling $117 million are due on Wednesday.
Russia is close to defaulting on its debt for the first time in decades, with two payments totaling $117 million due on Wednesday.
The payment is the first since a slew of international sanctions were imposed on Moscow in response to its unprovoked invasion of Ukraine, offering the first test of the government's ability, and willingness, to pay foreign creditors while its central bank and financial institutions are hamstrung by sanctions and domestic mitigation policies.
A default could trigger a protracted dispute with credit ratings agencies, international bodies and foreign creditors, and set the tone for a slew of upcoming payments this year.
Here is a list of Russia's upcoming external bond payments this year and the initial currency in which they were denominated: