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A Russian foreign debt will have limited implications for global financial markets but will affect Russia’s credit risk profile. Yuri Kochetkov/EPA-EFE

Russian debt default: two experts explain what it means for Russia and for global financial markets

Experts discuss the implications of Russia’s recent debt default for the global financial markets and Russia’s reputation
Replacing ships like the Moskva will be pricey. The flagship of Russia’s Black Sea Fleet recently sank after suffering damage. Russian Defense Ministry Press Service via AP

Russia faces first foreign default since 1918 – here’s how it could complicate Putin’s ability to wage war in Ukraine

Russia is on the verge of defaulting on its foreign debt, which not only could have severe economic consequences but could also complicate Putin’s ability to wage a prolonged war in Ukraine.

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