KYIV. UkraineGate , 2 , June , 2022 | World News.
Russia has not paid $ 1.9 million in accrued interest on sovereign bonds, citing a statement by a group of investors, reports DW .
Details
Against this background, some observers are growing fears that Moscow faces the risk of its first default in decades.
The Credit Derivatives Committee (CDDC) said on its website that it had answered “yes” to bondholders’ questions as to whether there had been a “credit default event”.
According to Bloomberg, Russia did not include additional interest on the bond payment made early last month.
“Despite the relatively small amount, the lost interest will trigger all outstanding credit default swaps in Russia, and the final amount is likely to be set at auction. According to Depository Trust & Clearing Corp., as of the end of last month, credit default swaps covered net Russia’s debt of $ 1.5 billion. For comparison: at the end of April this figure was $ 3.2 billion, “the agency said.
Addition
Russia is nearing default after the US refused to renew its payment license.
Source: Ukrgate
