GEO´ Newsteam

SANCTIONS: Russia Defaults on Foreign Debt — blaming West for Sanctions — Analysis

Posted By GEO´ Newsteam — Gibraltar

News Agency Reuters has reported that Russia is in default on payments to service its foreign debt for the first time in a century, meanwhile the Kremlin accuses the West of put it into an “Artificial Default”

Russia has struggled to keep up payments on $40 billion of outstanding bonds since its illegal invasion of Ukraine on 24th February as far-reaching economic sanctions shut down payment routes to overseas creditors after late May when the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) effectively blocked Moscow from making payments.



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