What’s the impact of a Russian debt default?

By The Associated Press

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine.

The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27. But it could take time to confirm a default.

“While there is a possibility that some magic could occur” and Russia gets the money through financial institutions to bondholders despite sanctions, “nobody’s making that bet,” said Jay S. Auslander, a top sovereign debt lawyer at the firm of Wilk Auslander in

→ Continue reading at Silicon Valley

More from author

Related posts

Advertisment

Latest posts

Partner of killed Ukrainian journalist explains why she wanted to see photo of his body – CNN Video

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes....

What’s the impact of a Russian debt default?

By The Associated PressRussia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the...

Biden urges Western unity on Ukraine amid war fatigue

By Zeke Miller, Darlene Superville and Geir Moulson | Associated PressELMAU, Germany — President Joe Biden and Western allies opened a three-day summit in...