Russian authorities have traditionally denied everything. But the numbers and facts speak to the default.
On the night before Monday in Russia expired a grace period with the payment of interest in the amount of about $ 100 million, payable on May 27, and this deadline is formally considered an event default in Russia < span style = "font-weight: 400;">. Bloomberg has already reported that this is a gloomy sign of Russia's rapid transformation into an economic, financial and political outcast, as the central bank's foreign exchange reserves are frozen and the largest banks are cut off from the global financial system.
“The Kremlin disagrees with claims that Russia has defaulted, that the funds did not reach the recipients – not our problem,” Kremlin spokesman Dmitry Peskov was quoted as saying by Russian government agencies.
The Minister of Finance of the Russian Federation managed to call the use of the term “default” a “farce”.
Russian authorities states that it has the funds to cover any accounts. Last week, it announced that it would switch to servicing its outstanding sovereign debt ($ 40 billion) in rubles, as the current foreign exchange situation has been artificially created by the West.
Read also: Russia's default on a number of debts looks inevitable – Reuters
Recall gold may be the subject of new EU sanctions against Russia.
At the same time, according to analysts from the Wall Street Journal, Western sanctions have not yet caused Russia enough economic damage.
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