Russia defaults on payments: Russia in historic default as Ukraine sanctions cut off payments

“Further defaults on coupon payments are likely,” Moody’s analysts wrote.

“This morning’s news around the finding of Russia’s default, for the first time in more than a century, situates just how strong the actions are that the U.S., along with allies and partners, have taken, as well as how dramatic the impact has been on Russia’s economy,” the U.S. official said on the sidelines of a G7 summit in Germany, which U.S. President Joe Biden is attending.

“With Russia going into sovereign default the international community has moved into a new, more aggressive phase of its sanctions campaign against Moscow,” said Adam M. Smith, partner at Gibson Dunn in Washington.RU000A0JWHA4=, that Russia was due to pay on May 27. The payments had a grace period of 30 days, which expired on Sunday.

All Russian government assets should now be seized throughout the civilised world! There will also be substantial financial claims against Russia from the Ukraine.

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