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Fitch: Russia ruble payment of USD coupons would be a sovereign default.

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Credit ratings agency Fitch said that if Russia were to make two US dollar bond coupon payments due Wednesday in rubles, it would constitute a sovereign default after a grace period expiration. Russia's invasion of Ukraine triggered sanctions from across the world that have limited Moscow's ability to access and allocate cash.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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Seaborne crude flows averaged 3.12 million barrels a day over the four weeks to July 6, a 3% decline from the previous period ending June 29, according to tanker-tracking data compiled by Bloomberg. That's the lowest level recorded since the four-week period ending Feb. 23.

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