From AFR....
https://www.copyright link/companies/financial-services/russia-is-spiralling-toward-a-210b-default-nightmare-20220315-p5a4xr

Russia is spiralling towards a $210b default nightmare

......Because of the sanctions, and various decrees Russia introduced in response, a default appears all but inevitable. Swaps markets put about a 70 per cent chance on it happening this year. Fitch Ratings says it’s “imminent”. Indicative pricing on the country’s bonds values some of them near 20 cents on the dollar. Just days before the invasion, those same notes traded above par......

....Russia’s late-1990s default was on domestic debt, so a foreign currency default would be the first since the aftermath of the 1917 Revolution, when the Bolsheviks refused to recognise the czar’s debts.....