Russian Federation

Russian debt default: What does it mean for Russia and global financial markets?

Russia's foreign debt default has been hailed as proof that sanctions imposed by western governments since the invasion of Ukraine in February are working. Image: Unsplash/Дмитрий Хрусталев-Григорьев

Nasir Aminu

Senior Lecturer in Economics and Finance, Cardiff Metropolitan University

Rodrigo Olivares-Caminal

Professor of Banking and Finance Law, Queen Mary University of London


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Russian Federation

Due to this foreign debt default, Russia will have to pay a higher cost of borrowing to attract new investors and to keep those it already has. Image: Korobcorp/Shutterstock

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Russian FederationFinancial and Monetary SystemsBanking and Capital Markets


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