EFG Magazine

Russia appeared to avoid a default this week after it made interest payments totaling $117 million due on two bonds denominated in U.S. dollars.

JPMorgan Chase received and processed the payments on Wednesday after U.S. authorities granted it permission to do so, said a person with knowledge of the payment, who requested anonymity because of the sensitivity of the situation.


March 18, 2022

An earlier version of this article misstated the amount of foreign currency debt accumulated by corporations in Russia. JPMorgan estimates the amount at $100 billion, not $100 million.  

Eshe Nelson is a reporter in London, where she writes about companies, the British economy and finance. @eshelouise

Lananh Nguyen covers Wall Street. She previously spent more than a decade at Bloomberg News in New York and London, where she wrote about banking and financial markets. @LananhTNguyen

A version of this article appears in print on March 18, 2022, Section B, Page 4 of the New York edition with the headline: Russia Makes $117 Million Bond Payment to Avoid Default. Order Reprints | Today’s Paper | Subscribe