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June 24, 2022
Russia is days away from a historic debt default as a $100 million payment comes due with Moscow cut off from the global financial system
Russia has $100 million in foreign debt payments due Sunday night, as a 30-day grace period ends. If bondholders don't receive payment on time, Russia will see its first default since 1998. Last month, the US Treasury had let a key sanctions exemption expire, which further squeezed Moscow's financial abilities.