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Russia is defaulting on its debt and will be declared Bankrupt in a few hours. They already defaulted a month ago, but now the 30 day grace period to pay is up, and since they must pay in dollars which they cannot get due to sanctions, they cannot do so.
Noone really knows exactly what will happen since the situation is pretty unique. They wont be able to take international loans for one -but due to sanctions they could not do so previously either. Ill guess we will see in the coming days.
https://www.bbc.com/news/business-61929926.amp
100 million is peanuts to Russia.
Russia is on the brink of its first debt default since 1998 as the Sunday deadline to make a $100m interest payment seems certain to be missed.
Russia has the money and is willing to pay, but sanctions make it impossible to get the payments to international creditors.
The Kremlin has been determined to avoid a first default since 1998, and a major blow to the nation's prestige.
The Russian finance minister branded the situation "a farce".
And the Credit Derivatives Determinations Committee, which determines whether payments have been missed and investors can claim on insurance-like contracts called Credit Default Swaps, has already ruled that Russia failed to pay, after it didn't pay around $2m interest due on a late payment in May.
Defaulting nations usually find it impossible to borrow any more money, but Russia is already effectively barred from borrowing in Western markets by sanctions.
In any case, it is reportedly earning around a billion dollars a day from fossil fuel exports, and Siluanov said in April the country has no plans to borrow more