Russia’s debt default will be one of the hardest in history to resolve and could see the US seize the central bank’s assets, economist says

• The impending Russian debt default is likely to be one of the most difficult in history to resolve, Oxford Economics has said.

• It could even result in the US seizing the Russian central bank’s frozen assets, the consultancy’s Tatiana Orlova said.

• Russia still has a grace period in which to make dollar payments on its foreign bonds, but analysts say a default is likely.

The impending Russian debt…