Has Russia defaulted on its debt? ...Middle East

Russia tried to pay nearly $650 million worth of debt to foreign creditors in rubles this week after banks wouldn’t process their payments in dollars, prompting renewed concern that the country is headed for a default.The Russian finance ministry said it “considers it fulfilled its obligations in full,” but the securities in question don’t allow payments in rubles, according to bond documents reviewed by Bloomberg. The cost of insuring Russian government debt against a default, which is measured by credit-default swaps, rose to record highs today (April 6).https://datawrapper.dwcdn.net/DlWRh/1/Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journali

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