Russia nears default on its debt

 Newsmax:

The economic cost of Russia's assault on Ukraine was further exposed on Wednesday as the sanctions-hit country teetered on the brink of its first default on international debt since the Bolshevik revolution.

Moscow is due to pay $117 million in interest on two dollar-denominated sovereign bonds it sold in 2013. But the limits it now faces in making payments, and talk from the Kremlin that it might pay in roubles - triggering a default anyway - has left even veteran investors guessing at what might happen.

One described it as the most closely watched government debt payment since Greece's default at the height of the euro zone crisis. Others said a grace period that allows Russia another 30 days to make the payment could drag the saga out.

...

There is more.

Russia does have gold reserves but may not use them. 

See, also:

Ukraine claims ‘serious blow’ to Russia with ‘liquidation’ of another top general

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