Tuesday, March 22, 2022

Private Defaults in Russia?

The Russian government may have been able to make its debt payment in dollars last week, but it's not clear that some Russian private firms can make their payments this week. They may default on Wednesday.

A Russian steelmaker, Severstal, claims to have forwarded a $12M payment on its bonds. But again, the bankers are not sure they can accept the money if it is under sanctions.

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