EXPLAINER: What’s the latest in Russia’s dance with default?

By The Associated Press

Russia’s debt drama is far from over. Moscow likely made last-minute overdue payments before the end of a grace period that expires Wednesday. But there is still widespread expectation a default may be in the offing. The finance ministry has flirted with paying with rubles, saying that sanctions have frozen its hard currency reserves but swerved to pay in dollars. Ratings agencies say doing otherwise would be default. A finance industry committee is reviewing the status of Russia’s debt and whether creditor insurance should be paid out. And more payments are due in coming days.