Sanctions Push Russia to First Foreign Default Since Bolshevik Revolution

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Russia was poised to default on its international debt for the primary time since 1918, pushed into delinquency not for lack of cash however due to punishing Western sanctions over its invasion of Ukraine.

Russia missed funds on two foreign-currency bonds as of late Sunday, in response to holders of the bonds. The day marks the expiration of a 30-day grace interval for the reason that nation was as a result of pay the equal of $100 million in {dollars} and euros to bondholders.

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