3 things to know as Russia heads to a historic debt default
Events over the past week have brought Russia tantalizingly close to its first default on foreign debt since the Bolshevik Revolution over a century ago.
Russia is on the verge of defaulting on its foreign debt for the first time since the Bolshevik Revolution more than a century ago.
Over the past week, the country faced two payment deadlines on bonds it previously sold to foreign investors. The combined interest was worth nearly $650 million, and the payments were supposed to have been made in dollars according to the terms of the bond contracts.
