Russia has averted state bankruptcy for now, making a crucial interest payment of 117 million US dollars. It was unclear whether Moscow could meet its international debt obligations, after Western sanctions over the war hobbled its financial dealings. Russia’s central bank can’t access its foreign dollar reserves and had said it might pay in roubles, which wouldn’t have been accepted by creditors. Another dollar-denominated payment is due in two weeks – this time for two-billion dollars. Major rating agencies have downgraded Russia’s credit rating.
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