Russia  allows selective default on foreign debt - S&P

This was reported by CNN.  

Country was trying to pay in rubles for two dollar-denominated bonds maturing on April 4.

Russia has 30-day grace period from April 4 to close payments, but S&P has said they doesn’t expect them to convert it in dollars, because of Western sanctions.

Restrictions undermine Russians' "readiness and technical ability to meet the terms of their commitments."