For the first time since 1918, Russia fails due to inability to pay its foreign debt.
Moscow has bypassed for months the sanctions imposed by the west after the Russian invasion of Ukraine, but on Sunday evening the guarantee period for almost 100 billion dollars, the payment that had to be repaid by May 27, expired, writesAljazeera.
The Kremlin, on the other hand, has denied the allegations. In a statement to reporters, spokesman Dmitry Peskov said these allegations were untrue and illegal. “Russia’s bankruptcy claims are illegal. “Payment in foreign currency was made in May, but the fact that it was blocked by Euroclear due to Western sanctions against our country, is not our problem”, said Peskov.
Russia has struggled to pay off its $ 40 billion debt since the start of the war in Ukraine on February 24, and Western sanctions have virtually isolated the country from the global financial system, making its assets intangible. for many investors.
Moscow has long claimed it has the money to pay and has called the bankruptcy untrue.
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