Kremlin: There are no grounds for Russia to really default

Eren Sengezer FXStreet

Russia has all the necessary resources to service its debts, a Kremlin spokesperson said on Wednesday, as reported by Reuters.

"A default situation is theoretically possible but it would be an artificial situation," the spokesperson added. "There are no grounds for Russia to really default."

Commenting on negotiations with Ukraine, the spokesperson noted that the process was not going as fast or energetically as Kremlin would like.

Market reaction

Safe-haven flows continue to dominate the financial markets on Wednesday. As of writing, the Euro Stoxx 600 Index was down nearly 1% on a daily basis. In the meantime, the US Dollar Index is posting modest daily gains above 99.50.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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