Sanctions on Russia have effectively isolated Vladimir Putin’s country from the global economy, with the country at increased risk of not being able to pay its bills.
The major credit rating agencies have begun the process of declaring the country in default, which generally refers to a government unable to meet obligations on its debt.
The agencies add that further sanctions at the end of May will further ratchet up pressure on Russia.
On Friday, S&P Global Ratings downgraded Russia’s…
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