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
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