Russia Defaults on Foreign Debt , Following Sanctions.<br />Fox News reports Russia failed to make <br />two payments by June 26, .<br />resulting in the country defaulting on its foreign debt for the first time since 1918.<br />However, the country is saying the default is artificial since it has the funds to pay, .<br />but its foreign currency reserves have been frozen due to sanctions imposed over its war with Ukraine.<br />There is money and there is also the readiness to pay. , Anton Siluanov, Russian Finance Minister, via Fox News.<br />This situation, artificially created by an unfriendly country, will not have any effect on Russians’ quality of life, Anton Siluanov, Russian Finance Minister, via Fox News.<br />Fox News reports that Russia owes <br />close to $40 billion in foreign bonds, <br />half of which is due to foreigners.<br />Before sanctions were imposed on the country, it held about $640 billion in <br />foreign currency and gold reserves. .<br />Fox News reports that the international community came to Russia's aid in the 1990s when it defaulted on domestic debts.<br />but considering much of the world disapproves of Putin's war with Ukraine, <br />such help seems unlikely today
