Taiwan’s Russian bondholders say payment has not yet been received

© Reuters. FILE PHOTO: A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: “Bank of Russia”. REUTERS / Maxim Shemetov / File photo

TAIPEI (Reuters) – Some Taiwanese Eurobonds holders failed to receive interest due on May 27 after the extension expired on Sunday night, two sources said, potentially causing Moscow fell into its first major external sovereign default in more than a century.

Russia will make $100 million coupon payments on two Eurobonds on May 27 – $29 million on 2036 euro denomination bonds and $71 million on 2026 dollar denomination bonds .

Sanctions imposed by Western capitals on Russia following its invasion of Ukraine on February 24, as well as Moscow’s retaliatory measures, have left the country excluded from the global financial ecosystem. Russia calls its actions in Ukraine a “special operation”.

Despite numerous restrictions, Russia has managed to make payments on seven bonds since invading Ukraine before the latest interest payment.

Russian debt makes up less than half of Taiwan’s bond holdings.

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