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Sanctions threaten Russian companies with technical default

Organizations in Russia found themselves in a state of technical default if they do not pay their debts on foreign currency loans and Eurobonds. Foreign firms block payments from companies whose shareholders are under the sanctions of EU. Some companies have already faced difficulties in conducting financial transactions, while others are still facing similar problems. According to Vedomosti, there are obvious problems with such large organizations as Severstal, whose ...

Russian Railways defaulted on Eurobonds

Russian Railways failed to pay off Eurobonds due to the sanctions applied against the company. This was the first event of this kind since the introduction of restrictive measures due to the situation in Ukraine. The incident was reported by Bloomberg , indicating that Russian Railways was declared in default due to non-payment of its obligations on time. The agency reports that this was due to Eurobonds that were issued two years earlier. Their value was fixed in Swiss francs, and in rubles amounted to about 22 billion rubles. In this situation, the ...

Head of the IMF admitted the possibility of default in Russia

According to IMF Managing Director Kristalina Georgieva, a default may soon occur in Russia. The reason for this may be the sanctions imposed on the country against the backdrop of events in Ukraine. However, Georgieva stressed out that she had no intention of speculating on this topic. Earlier, the International Monetary Fund approved the provision of $1.4 billion to Ukraine....

Russia's plans to sell gas for rubles did not suit buyers

... Vladimir Putin. According to Shun'ichi Suzuki, the Japanese authorities will study this issue, tracking the possible risks of sanctions imposed by Tokyo on the Russian economy. We should recall that, according to the logic of the Russian authorities, the ... ... consequence of the freezing of Russian foreign exchange reserves in the US and the EU. The state considers such a step as a de facto default of the financial institutions of the Western countries to the Russian Federation. Under these conditions, "unfriendly" ...

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