Venezuelan style. Morgan Stanley named the date of the alleged default of Russia

According to analysts' forecasts, the default may come as early as April 15, writes Bloomberg, informs Espresso.West.

The Morgan Stanley report says Russia's chances of paying off its foreign debt are dwindling due to falling bond prices, a recession looming ahead of the country, and the accumulation of many payment restrictions following the invasion of Ukraine.

"We consider default as the most likely scenario", Simon Wever, the company's global head of sovereign lending strategy for emerging markets, wrote.

Morgan Stanley believes that Russia is facing a default similar to the default in Venezuela.

"In the event of a default, the scenario is unlikely to be similar to the usual one. Instead, perhaps it had the best comparison with Venezuela", the report says.

The agency notes that a default could occur as early as April 15 after the end of the 30-day grace period on coupon payments that the Russian government must pay on dollar bonds maturing in 2023 and 2043.

The non-payment may be related to Russia's unwillingness to pay foreign creditors due to sanctions imposed by the US and its allies.