Russia defaults on foreign debt for first time since 1918 following sanctions

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 53%

United States Headlines News

United States Latest News,United States Headlines

Russia has defaulted on its foreign-currency sovereign debt for the first time since 1918 because of Western sanctions imposed over its invasion of Ukraine.

last month ended Russia’s ability to pay back debt to international investors through American banks. The Russian Finance Ministry then said it would pay dollar-denominated debts in rubles and offer "the opportunity for subsequent conversion into the original currency."

Russian President Vladimir Putin in a photo illustration also showing U.S. Secretary of the Treasury Janet Yellen.Prior to Russia's war on Ukraine, it had around $640 billion in foreign currency and gold reserves. Much of this had been held overseas, but has since been frozen. Russia defaulted on its domestic debts in the late 1990s but was able to recover with the assistance of international aid.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Brawa dla Rosji za niepłacenie 👏👏👏👏

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russia-Ukraine live updates: Ukraine granted candidate status for EU membershipUkraine-Russia latest: A series of Russian missiles struck a residential area of Kyiv, Ukraine, on Sunday morning, local officials said. More Bio-labs intercepted 💥💥💥 Pull hairs, well, I’m an early dater. I like to go down early in a relation, but getting there. Yeah, they know. A drink or two or how much time that they have, and jeans pull off. Her hand in my hair free. Yeah, how many locks do I have? Why would I trust you to report international news when you botched local news for so long?
Source: ABC - 🏆 471. / 51 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. The Afghan military is robust 😂 Russia will takeover Kiev’s in 24 hours - US General Iraq posed WMD - Bush Ruble is going to tank - Joe Biden and western media keep writing propaganda letting Americans down with the consequences of their action, high gas prices! High inflation! Report truth! Another fake
Source: washingtonpost - 🏆 95. / 72 Read more »

Russia strikes Kyiv as Western leaders meet in EuropeRussia has shattered weeks of relative calm in Ukraine's capital with a missile attack as Western leaders meeting in Europe prepared to reaffirm their support for Ukraine and condemnation of Russia.
Source: wjxt4 - 🏆 246. / 63 Read more »

Russia strikes Kyiv as Western leaders meet in EuropeWSYX ABC 6 is On Your Side, providing local news, first warning weather forecasts and alerts, traffic updates, consumer advocacy, and the latest information about sports, politics, law enforcement, community events, government waste, and much more, including ABC network news and entertainment programming. WSYX proudly serves Columbus and nearby towns and communities in central Ohio, including Dublin, Westerville, Clintonville, Upper Arlington, Grove City, Canal Winchester, Pickerington, Grandview Heights, Reynoldsburg, New Albany, Hillard, Sunbury, Delaware, Worthington, Whitehall, Powell, Lewis Center, Gahanna, Johnstown, Granville, Pataskala, Groveport, Heath, Newark, Baltimore, Lancaster, London, Marysville, Zanesville, Mt. Vernon, Mt Gilead, Marion, Kenton, Bellefontaine, Galena, Gallion, Bexley, Circleville, and Chillicothe.
Source: wsyx6 - 🏆 444. / 53 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.' Why can’t the so-called world leaders get a peace accord? Whose interest it is to continue another senseless war? A bit surprised normally wily Lukashenka is drawn in like this. Perhaps Putin promised to keep him in lifetime power in a post-war Belarusian-Russian union = Belarus as vassal state is complete.
Source: Newsweek - 🏆 468. / 52 Read more »