Russia on brink of default as debt deadline looms

The country is close to its first default since 1998 as sanctions block payments to creditors …

“They have not got it,” says Jay Auslander, a US lawyer who has worked on many government debt cases. “And the overwhelming probability is they’re not going to get it.”If this money has not arrived within 30 days of the due date, that is, Sunday evening, that will widely be considered a default.

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