Investors still wary of Russia default after bond payment

Bonds are stuck at distressed levels and five-year credit default swaps put an 87 per cent chance of a default

Moscow keeps pushing to get money through the labyrinth of rules, success is far from guaranteed

The existing measures imposed against Russia after its invasion of Ukraine have already severely complicated payments

A potential default “will still be determined by Russia’s willingness to pay

 governments across the world are moving in the direction of tighter sanctions against Russia

The EU is proposing a ban on imports of Russian oil and reducing its dependence on the gas from the country

The two notes with payments on May 27 are trading below 30 cents,

The next sovereign transfer stipulating payment exclusively in dollars is on June 24

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