EXPLAINER-Russia walks the plank to a foreign bond default

WHY IS RUSSIA NOT PAYING DEBT?

FRANKFURT: Russia's failure to send an interest payment to creditors is triggering a payout on debt insurance, taking the country another step closer to its first default on international bonds since the Bolshevik revolution more than a century ago.

On Friday, the European Union expanded sanctions on Russia, including on a domestic payments processing firm Moscow hoped to use for servicing its Eurobonds