Russia must pay $117 million (about 106.7 million euros) this Wednesday if you do not want to face a suspension of payments. With its reserves frozen, Moscow now faces a new economic risk after its currency is devalued, the stock market has closed, multinationals have fled the country and investors are increasingly reluctant to bet on the country.
In case Moscow does not pay its debt today, it will be granted a grace period of 30 days. After that period, it will officially enter in suspension of payments. Russia has enough capital to pay off the debt, but the freezing of almost half of its foreign currency reserves (300,000 of the 643,000 million dollars) are paralyzed.