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Russia is turning into an economic, financial and political pariah/Getty Images make an interest payment of $100 million on its Eurobonds.
This is Russia's first default on its foreign debt since 1918, when the Bolshevik leader Lenin refused to pay the debts of the tsarist government after the so-called “October Revolution” .
What happened
The sanctions are working, which made payments impossible, and Russia fell into a state of default.
Crime and Punishment
Russia transformed into an economic, monetary and political pariah.
The country's Eurobonds have traded at troubled levels since early March, the central bank's foreign exchange reserves remain frozen, and the largest banks are separated from the global financial system.
