Russia faces risk of “orchestrated” default on state debt -VTB CEO

VTB Financial institution Chief Government Andrei Kostin attends a session of the St. Petersburg Worldwide Financial Discussion board 2016 (SPIEF 2016) in St. Petersburg, Russia, June 16, 2016. REUTERS/Sergei Karpukhin/File Photograph

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April 22 (Reuters) – Russia could face an “orchestrated” default on state debt resulting from Western sanctions which shouldn’t be seen as a technical default, the CEO of Russia’s second-largest lender VTB (VTBR.MM) Andrey Kostin mentioned in TV interview launched on Friday.

As Russia teeters on the point of a historic default, overseas buyers within the nation’s debt have few palatable choices to get well their cash: wager on pricey authorized motion, belief bilateral agreements will stand, or sit on their palms, analysts say. learn extra

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Reporting by Reuters; enhancing by John Stonestreet

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