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A first in Russia after 100 years!

For the first time since 1917, Russia has been unable to pay its debt in foreign currency. By Sunday evening, Russia was supposed to pay $ 100 million in interest. However, due to sanctions, he was unable to trade in foreign currency. As a result, Russia missed the payday. Russia has become unable to pay its state debts and interest rates due to the sanctions imposed on Ukraine due to the invasion it launched. Thus, Russia became the first country that could not pay its debts for the first time since the Bolshevik Revolution of 1917.

The situation that has arisen means that Russia will not be able to borrow money on the outside in the coming period. A statement came from the Kremlin about the negative development of the so-called default in the economy. Dmitriy Peskov, Putin’s spokesman, said: “We are paying our debt uniformly. It’s not our problem if the financial institutions in the West don’t deliver the money we send to our customers. Claims that Russia is bankrupt are completely untrue. We have sent the amount we need to pay to the holders of government bonds,” he said.

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