Russia has reportedly defaulted on its foreign-currency sovereign debt for the first time in a century.
Bloomberg reported Monday that Russia failed to make an interest payment of 100 million U.S. dollars by last Sunday.
The due date was initially May 27, but the payments have been delayed once with the given grace period of 30 days.
In response to the war in Ukraine, Western countries have frozen Russian assets through sanctions and removed Russian banks from the SWIFT international payment system.
However, according to Bloomberg, Russia has yet to declare the default.
Moscow says it's capable of covering the debt, but Western sanctions blocked it from making the payments.