A Russian government default on its international debts would be the first time in 100 years after time runs out for Moscow.
This little dictator has responded angrily to the situation, claiming the default has been engineered by Washington. It has insisted it is willing and able to pay. So he better put up, or shut up.
Russia's Central Bank no longer has access to around $300 billion of the country's total reserves of about $640 billion. The Russian government used U.S.-held reserves to make coupon payments on dollar-denominated debt on a case-by-case basis.