Russia’s bankruptcy getting closer
Following reports of a massacre in Bucha, the US will prevent Russia from making payments through US banks.
As a result, Russia will no longer be able to pay its debts in dollars. Its technical insolvency thus becomes more and more real. A country is technically insolvent if it is unable to pay the interest on its bonds, for example. Russia has to pay this in dollars. The deadline for further interest payments passed on Monday. Currently, Russia has two options. One is to use domestic foreign exchange reserves. The other option is to declare insolvency.
