Russia calls any default artificial because it has the money to pay its debts but says sanctions have frozen its foreign currency reserves held abroad. Photo: EPA-EFE
Ukraine war: Russia slips into default zone as payment deadline expires
- Russia had faced a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27
- Moscow has accused the West of trying to drive Russia into an ‘artificial default’ after shutting payment routes to overseas creditors
Russia calls any default artificial because it has the money to pay its debts but says sanctions have frozen its foreign currency reserves held abroad. Photo: EPA-EFE
