ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Finance

Russia's credit crunch raises specter of default

G-7 finance chiefs pledge more action as debt yields soar and liquidity tightens

The ruble has collapsed against the dollar over the past several days amid tightening financial sanctions.   © Reuters

LONDON/TOKYO -- The international financial sanctions against Russia are driving the country toward a credit crisis, as restrictions on Moscow's access to foreign currency stoke concerns about defaults on external debt.

Group of Seven finance ministers and central bankers agreed in a virtual meeting Tuesday to take further action swiftly in response to Russia's invasion of Ukraine. But Japanese Finance Minister Shunichi Suzuki declined to comment on the specifics of their discussion.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more