Russia defaults on foreign debt for the first time since 1917

Russia has defaulted on its foreign debt for the first time since the 1917 revolution, according to reports. The country missed a deadline of Sunday night to meet a 30-day grace period on interest payments of $100M on two Eurobonds originally due on May 27. Some Taiwanese holders of Russian Eurobonds said on Monday that they had not received interest payments due. That's after Russia's attempts to pay in its ruble currency were blocked by international sanctions. David Madden is a market analyst at Equiti Capital and he joined us in London. #RussiaAttacksUkraine #RussianRuble #RussiaDefaults