Wednesday, July 6

Kremlin says Russia has ‘no grounds for default’

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The Kremlin has said there are no grounds for Russia to default on its debts, as the country struggles to make interest payments to bondholders because of Western sanctions.

Kremlin spokesman Dmitry Peskov blamed the sanctions, which have seen almost half of the country’s foreign currency reserves frozen, for “pushing Russia into an artificial man-made debt default.” (Reporting by Reuters)