Russia could default on its debt within days

[yaesu]

23. Russian government has borrowed relatively little. JPMorgan estimates that it had about $40 billion

of foreign currency debt at the end of last year, with about half of that held by foreign investors.

International banks are owed more than $121 billion by Russian entities, according to the Bank for International Settlements. European banks have over $84 billion total claims, with France, Italy and Austria the most exposed, and US banks owed $14.7 billion.

Even if Moscow halts payments to foreign investors on all sovereign debt, the roughly $60 billion default — including ruble debt held overseas — would be in the same ballpark as Argentina's in 2020 — a non-event for markets., so it doesn't sound like it will have much of an impact

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