TagMoody’s believes

If Moscow defaults, it will be Russia’s first serious default on foreign bonds since the 1917 Bolshevik revolution, although the Kremlin says the West is forcing it to default by imposing severe sanctions. Russia paid on April 4 for two sovereign bonds – maturing in 2022 and 2042 – in rubles, not in dollars, which it had to pay in accordance with the terms of the securities. “Therefore, Russia...