Russia is seen to have defaulted on repayment of foreign debt for the first time since 1918.
As the miss was caused by western sanctions on Russia over its invasion of Ukraine, the country refused to accept it had defaulted, with Russia’s minister of finance referring to the development as “a farce,” the BBC said on Monday. “This is the sort of action that will hang over the economy and make recovery much more difficult when we get to that stage,” he was quoted by the BBC as saying.
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