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Putin Once Said That 'Great Powers Pay Their Debts.' Now He Can't Pay His

Moscow’s efforts to repay bondholders were tripped up by Western sanctions. But if there’s a global debt crisis on the horizon, it’s going to start somewhere else

David Rosenberg
David Rosenberg
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David Rosenberg
David Rosenberg

Very little that Russia has said since it invaded Ukraine three months ago stands the test of truth, but Finance Minister Anton Siluanov did have a point when he called his country’s default on its debt “artificial.”

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