JRL NEWSWATCH: “Sanctioned Russia teeters on brink of historic default” – Reuters

File Photo of Assorted U.S. Cash, adapted from image at tsa.gov

“… [T]he limits [Russia] now faces in making payments … [have] left … investors guessing …. Creditors [reportedly] had not received funds by close of business in London …. Russian Finance Minister Anton Siluanov … said Moscow … made the payment … reach[ing] the correspondent American bank, and it was now down to Washington to clarify whether settlement is possible. …

Experienced investors see three potential scenarios … The first … Moscow pays in full … in dollars, meaning default worries go away for [now]. … The second … Moscow doesn’t pay, starting the 30-day grace period …. [T]hird … [if] Russia pays … in roubles … the legal terms of the bonds would mean that is still tantamount to a default. ….

Click here for: “Sanctioned Russia teeters on brink of historic default” – Reuters/ Marc Jones


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