What's happening with Russia's 1st default on foreign debt in a century
The clock ran out on Russia's payments. But there's a twist: Russia does not consider itself in default because the country has the money, just its payments have been blocked by Western sanctions.
Updated June 27, 2022 at 10:35 AM ET
Russia appears to have defaulted on its international debt for the first time in over a century, after Western sanctions made the country's efforts to pay its overseas creditors impossible.
Here's what happened
Like any country, Russia sold bonds to investors abroad and at home to support its economy, promising to
