Some payments arrived on time. Others hit several days late. And an increasing number are getting stuck in a web of financial intermediaries that are struggling to comply with international sanctions against Russian President
A month since the country’s invasion of Ukraine, investors are starting to realize just how narrow the path is for Russia -- and some of its biggest corporations -- to avoid default. That’s casting a pall over a country that was once a darling of emerging-market investors and now looks set to lose 15 years of economic gains by the end ...