First default in Russia – Russian Railways delays payment

17:35 - 11.04.2022

April 11, Fineko/abc.az. Russian Railways (RZD) became the first Russian company to officially default due to sanctions. Thus, for the first time in Russia, the institution fell into default because of post-war sanctions.

ABC.AZ reports that last month the default of Russian Railways was announced due to delayed payments.

"This decision was made for the first time for the company because of the great difficulties in financial transactions after Russia came under severe sanctions.

So, the company that missed the additional 10-day deadline was unable to make the payment that it was supposed to make on 14 March," the Russian press noted.

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