Russia defaults on foreign debts: Moody’s

According to the details, the credit rating company Moody’s has declared Russia as the default.

According to a report by a foreign news agency, Russia has defaulted on foreign loans for the first time in more than a century.

According to the report, Moscow did not repay the foreign loans even after the deadline. Russia had a deadline of May 27 for the amount of 100 million dollars owed, with a further concession of one month. It’s over now.

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Russian officials say they are unable to send money to bondholders due to sanctions.