Russia has defaulted on its foreign debt for the first time in more than a century, reports say
This marks Russia's first default on its foreign debt since 1918, when, during the Bolshevik Revolution, communist leader Vladimir Lenin repudiated the debt of the Tsarist era.
. Instead, the default comes as sweeping US and European Union sanctions are blocking its bond interest payments from moving through the international payments system.on its bond payments even amid sweeping sanctions. But markets have been expecting the country to eventually default on its foreign bonds as international trade restrictions intensify.
Formal default declarations are typically issued by credit rating agencies, but the big three agencies — S&P, Moody's and Fitch — have all withdrawn ratings on Russian entities due to sanctions.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Putin ally announces first city Russia will strike if World War 3 startsPanelists on Russian state TV channels have made repeated threats of missile strikes against capitals of European countries.
Read more »
Russia hits Ukraine with air strike from Belarus for first time: KyivUkrainian officials said Saturday that Russia fired missiles from Belarus to drag the country 'into the war in Ukraine as a direct participant.'
Read more »
Russia will soon exhaust its combat capabilities, Western assessments predictSmall shifts in territorial control matter less than the overall balance of forces, which analysts say could shift back in favor of Ukraine in the coming months.
Read more »
Biden's mission in Europe: Shore up alliance against RussiaMUNICH (AP) — President Joe Biden is out to sustain the global alliance punishing Russia for its invasion of Ukraine as he embarks on a five-day trip to Europe as the 4-month-old war shows no sign of abating and its aftershocks to global food and energy supplies are deepening.
Read more »
Russia fires missiles across Ukraine, cements gains in eastKYIV, Ukraine (AP) — Russian forces were seeking to swallow up the last remaining Ukrainian stronghold in the eastern Luhansk region, while pressing their momentum following the withdrawal of Ukrainian troops from the charred ruins of Sievierodonetsk.
Read more »