Several sources have reported that Russia is defaulting on foreign debt for the first time since the Bolshevik Revolution in 1918.
Following the expiration of the grace period for its $100 million payment, reports indicate that Russia defaulted on its foreign debt on June 27 for the first time since 1918.
The Kremlin was required to pay $100 million in interest by May 27, but a 30-day grace period was established after investors failed to receive the necessary coupon payments for both...
