Image: Reuters Berita 24 English - Taiwan's financial regulator said on Tuesday that seven Taiwanese insurance companies have not recei...
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| Image: Reuters |
Berita 24 English - Taiwan's financial regulator said on Tuesday that seven Taiwanese insurance companies have not received the interest that was due on Russian Eurobonds on May 27. This is because a grace period ended on Sunday evening.
Monday, the White House and the credit agency Moody's said that Russia defaulted on its international bonds for the first time in more than a century. This is because sanctions have cut the country off from the global financial system.
On May 27, Russia was supposed to pay $100 million in interest on two bonds, one denominated in U.S. dollars and the other in euros. There was a grace period of 30 days for the payments, which ended on Sunday.
Only a very small amount of Taiwan's bond holdings are made up of Russian debt.
