Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023
you are here: HomeNewsWorld

Explainer: What impact would a Russian debt default have?

Would a default really make any difference at this stage though, and what would it entail?

March 31, 2022 / 08:35 AM IST
Russian President Vladimir Putin

Russian President Vladimir Putin

Russia has managed to avoid defaulting on its international debt so far despite unprecedented Western sanctions. But the task is getting harder and Moscow's threats to cut Europe's gas supply seems to be upping the ante further.

Would a default really make any difference at this stage though, and what would it entail?

WHAT HAPPENS WHEN A COUNTRY DEFAULTS?

If Russia fails to make any of its upcoming bond payments within their pre-defined timeframes, or pays in roubles where dollars, euros or another currency is specified, it will constitute a default.