The agency said that Russia had defaulted on its sovereign debt in foreign currency. The last time a similar situation was recorded in 1918, when the Bolsheviks came to power.
Bloomberg reports that on the night of June 27 the grace period, during which about $100 million in overdue payments on government bonds should have been paid, ended.
The bottom line is this: in case of non-payment, the end of the grace period is considered an event of default. As the agency previously reported, this would be the first default on foreign debt since 1918. Recall that in that year the Bolsheviks, who came to power, announced their refusal to pay the debts of the Russian Empire.
Earlier we reported that the Russian authorities do not plan to declare default. But at the same time technically the fact of default will be fixed if the investors will not receive money.