The international rating agency Moody’s reports that by May 4, the expiration date of the grace period, Russia may wait for default, reports “Kommersant”.
It is noted that Russia made payments on dollar bonds in rubles, which does not comply with the conditions according to the initial contracts.
“As reported, Russia made payments on two bonds with a maturity of 2022 and 2042 in rubles, and not in US dollars, which represents the change in the terms of payments compared to the initial bond contracts. According to the definition of Moody’s, this may Recognized by default, if the situation does not change until May 4, which is the end of the grace period, “the agency says.
Reuters notes that if Russia is recognized as a default country, it will be its first major default on foreign bonds since 1917.