Bloomberg Law
March 25, 2022, 4:44 PM

Russia High-Wire Act to Avoid Default Looks Increasingly Fraught

Davide Scigliuzzo
Davide Scigliuzzo
Bloomberg News
Abhinav Ramnarayan

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 Vladimir Putin and his allies.

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 ...