S&P on Saturday lowered Russia’s foreign currency ratings to “selective default” on increased risks that Moscow will not be able and willing to honor its commitments to foreign debt holders.
FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, US, December 13, 2018.FILE PHOTO: The S&P Global logo is displayed on its offices in the financial district in New York City, US, December 13, 2018.
Facing waves of sanctions over its invasion of Ukraine, Russia could face its first sovereign external default in over a century after it made arrangements to make an international bond repayment in rubbles this week, even though the payment was due in dollars. “We currently don’t expect that investors will be able to convert those rubble payments into dollars equivalent to the originally due amounts, or that the government will convert those payments within a 30-day grace period.”
Russia’s finance minister on Thursday said the country will do everything possible to pay its creditors, but investors in Russia’s international bonds face an increasingly uncertain path to recover their money should the country default.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UN suspends Russia from human rights body — Moscow then quitsThe UN General Assembly on Thursday suspended Russia from the UN Human Rights Council over reports of 'gross and systematic violations and abuses of human rights' in Ukraine, prompting Moscow to announce it was quitting the body.
Read more »
Russia suspended from UNHRC, SA abstains from voting193 members of the United Nations General Assembly voted on America’s initiative to have Russia suspended after allegations of human rights violations in Ukraine.
Read more »
DEVELOPING | UN General Assembly suspends Russia from human rights body | News24As Russia embarks on its war with Ukraine, it's facing diplomatic, economic and public pushback from many different quarters.
Read more »
Russia piles pressure on companies as unemployment crisis loomsThe next economic jolt to Russia will likely arrive by way of the labour market, building in intensity over the coming months and bringing new hardships for a nation already waylaid by a series of shocks.
Read more »
When China abstains in UN votes on Russia, it’s a win, US saysChina and Russia declared a ‘no-limits’ strategic partnership weeks before the February 24 invasion of Ukraine, and have been forging closer energy and security ties
Read more »
Ukraine crisis: Ukraine seeks ‘ruinous’ sanctions on Russia as its forces pound east and southLVIV, Ukraine, April 7 (Reuters) - Ukraine renewed a call on Thursday for financial sanctions crippling enough to force Moscow to end the war and its officials rushed to evacuate civilians from cities and towns in the east and south pounded by Russian artillery and missiles.
Read more »