A default would be one of the clearest signals that the sanctions are having their intended effect on the Russian economy. But its impact on Russia’s ability to wage war in Ukraine may be another story.
Tag: rubles
In an attempt to shore up its failing economy, Russia is trying to blackmail the West and asking to be paid in rubles for its natural gas. However, such a move is unlikely to help Moscow in the long-term. And the important question still remains of how the EU will manage without Russian gas.