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Russia on the brink of its first debt default since 1998

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Moscow: Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100 million interest payment seems certain to be
Moscow: Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100 million interest payment seems certain to be missed, the media reported. Russia has the money and is willing to pay, but sanctions make it impossible to get the payments to international creditors, reports the BBC. The Kremlin has been determined to avoid a first default since 1998, and a major blow to the nation’s prestige.

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