In brief, accoording to to Fitch Ratings’ Sovereign Rating Criteria
- the payment in local currency of Russia’s US dollar Eurobond coupons due on 16 March would, if it were to occur, constitute a sovereign default, on expiry of the 30-day grace period.
- These are the first foreign-currency sovereign coupons due since the Presidential Decree of 5 March set out a differential treatment of external debt payments to creditors in countries that had joined sanctions against Russia, including their payment in roubles.
Here is the link for more detail if you are after it.
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Getting paid in roubles like:
