War in Ukraine: Russia soon unable to pay its debts, warns agency (bbc.co.uk)

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> increase the probability of a policy response by Russia that includes at least selective non-payment of its sovereign debt obligations

This article is missing reality. Russia is already defaulting on its debt, by no longer paying out coupons on bonds for foreign holders.

I think lenders can be pretty sure that the outstanding debt is gone more or less.

Block cash reserves, you get problems in payment. What would you expect?