Russia looks to avoid default with last-minute dollar bond payment
Russia's $40 billion of international bonds have become the focus of a game of financial chicken amid sweeping Western sanctions over Moscow's invasion of Ukraine.
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Russia's $40 billion of international bonds have become the focus of a game of financial chicken amid sweeping Western sanctions over Moscow's invasion of Ukraine.
LONDON/WASHINGTON--Russia made what appeared to be a late U-turn to avoid a default on Friday, as it made a number of overdue interest payments in dollars on its overseas bonds, despite previously vowing to pay only in rubles as long as its reserves remained frozen.
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The emerging-markets operator that counts Russia as its biggest market is pulling out all the stops to keep its network running in Ukraine.