(Worthy News) – Russia defaulted on its foreign-currency sovereign debt for the first time in more than a century after failing to make two payments by the Sunday night deadline.
Moscow missed the deadline to meet a 30-day grace period on interest payments that were originally due May 27, but it could be a while before the default is confirmed.
The debt default stems from the sanctions imposed over Russia’s invasion of Ukraine, which was launched in late February. The default signals the first of its kind since 1918, although Russia has called it artificial because it can afford to pay its debts, but sanctions have frozen its foreign currency reserves held abroad. [ Source: Fox Business (Read More…) ]
10
people are currently praying.
💡 Did you know? One of the best ways you can support
Worthy News is by simply
leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement —
so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
(Worthy News) – Russia defaulted on its foreign-currency sovereign debt for the first time in more than a century after failing to make two payments by the Sunday night deadline.