Analysis: Russia debt investors in limbo as default risk increases – Reuters
- Date: 07-Apr-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Analysis: Russia debt investors in limbo as default risk increases – Reuters
NEW YORK/WASHINGTON/LONDON, April 7 (Reuters) - Investors in Russia's international bonds face an increasingly uncertain path to recover their money should Russia ultimately default, while the country itself would face increased financial isolation and hurdles to regain investor confidence.
Russia's ability to fulfill its debt obligations is in focus after sweeping sanctions in response to Moscow's invasion of Ukraine have frozen nearly half of its $640 billion in gold and foreign reserves and limited access to global payment systems.
The U.S. Treasury Department this week halted Russia's ability to use foreign currency reserves held by the Russian central bank at U.S. financial institutions to pay its debt.
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