Russia in historic foreign debt default, reports suggest

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The country fails to make $100m interest payment due to sanctions and is reported to be in in default.

Russia says the money was sent to Euroclear, a bank which would then distribute the payment to investors.

These restricted the country's access to the international banking networks which would process payments from Russia to investors around the world.

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Author / Journalist: By Ben King

Category: Economy

Topics: Debt Payment Time Investors Russia Default Money Payments Sanctions Russian

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-27, 04:33:32

News Timezone: GMT +0:00

News Source URL: bbc.co.uk

Language: English

Reading Time: 4 minutes read

Article Length: 663 words

Coverage Area: United Kingdom

Availability: Desktop Web, Mobile Web

News ID: 15112

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About BBC Business

Main Topics: Economy

Official Website: bbc.co.uk

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Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 12h ago

Coverage Areas: United Kingdom

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