Bloomberg announced a default in Russia

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Bloomberg announced a default in Russia
Bloomberg announced a default in Russia
27 June, 09:53Economy
On Monday night, June 27, Russia defaulted on foreign currency sovereign debt, writes Bloomberg.

The publication notes that this has happened for the first time since 1918. The Russian side denies that it defaulted.

It should be noted that on June 26, the grace period for the payment of $100 million in overdue payments on government bonds expired. The author of the article points out that the end of this grace period is the default event.

Earlier it became known that the United States did not renew Russia's license to service external public debt. The corresponding permit was valid until May 25. The lack of a license makes it impossible to service external sovereign debt in dollars, and in the United States and in other currencies. At the same time, on May 25, the Russian Ministry of Finance announced that Russia would continue to fulfill state debt obligations, but would switch to settlements in rubles with the possibility of subsequent conversion.

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