FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: “Bank of Russia”. (Reuters)
Russia will halt bond sales for the rest of the year and take legal action if sanctions force it into a default on its debt, according to the country’s finance minister.
Anton Siluanov’s comments in Russian newspaper Izvestia come days after the government breached the terms on two bonds by paying investors rubles instead of dollars, and its credit grade at S&P Global Ratings was cut to ‘selective default’.
The threat of default has been hanging over Russia for weeks after it was hit with sanctions because of its invasion of Ukraine. The government in Moscow says it has the…
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