Russia’s foreign currency debt pile at risk of default

Sanctions could block coupon payments on $200bn of externally held foreign currency bonds


With Russia poised to default on its sovereign debt, there is considerable uncertainty as to whether or not the country’s banks and corporates can continue to make interest payments on nearly $200 billion of externally held foreign currency bonds.

The Bank of Russia has already blocked coupon payments on local currency sovereign and corporate bonds held by foreign investors. As of September 2021, the most recent official data available, these holdings totalled nearly $138 billion. Now, an even

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here