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Russia allows selective default on foreign debt - S&P
Credit rating agency S&P has announced that Russia allows selective default on foreign debt
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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."
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