Ruble payments ruled against, Russia comes closer to default: Report

Russia is closer-than-ever to a default on its sovereign money it owes after an industry body overseeing the credit-default swaps market said on Wednesday that the Kremlin failed to meet its obligations to international collectors when it paid them with rubles earlier this month, the Wall Street Journal reported.
 
Russia paid bondholders in rubles on April 6 after the US blocked Russia from utilising American banks to channel payments on its dollar-denominated bonds. The Russian Ministry of Finance mentioned it had tried to remit greenback curiosity payments due to bondholders by way of JPMorgan Chase & Co. The 14