Moscow completes sovereign debt payment, avoids first default in a century
Russian Finance Ministry announced that it had completed a foreign bond payment averting the country’s first default on its foreign debt obligations since 1918, during the Bolshevik Revolution
By Yashasvini Razdan
Published - Mar 18, 2022, 12:34 AM ET
Last Updated - Feb 20, 2024, 11:19 PM EST
• Russia was due to pay $117 million on two dollar-denominated bonds
• The West has placed strict sanctions from the war in Ukraine on Russian bank
Russian Finance Ministry announced that it had completed a foreign bond payment averting the country’s first default on its foreign debt obligations since 1918, during the Bolshevik Revolution.
Russia was due to pay $117 million on two dollar-denominated bonds. JP Morgan and Chase told Wall Street Journal that it had received the complete sum of $117 million for both the Russian sovereign bonds.
