When is a Russian Or Belarusian Bond Not in Default?

When its up to Euroclear...

A rather technical post by your author over at the Financial Times’ Alphaville Blog - it is accessible without a paywall, though you may need to register.

https://www.ft.com/content/3a0d687e-abd9-4769-97c5-10cf8853eeb4

And I can’t thank them enough for publishing the line ‘Santekhniki vseh stran, soyedinyaites!’ - which translates as ‘Plumbers of the World, Unite!’ but also ‘Sanctions Technicians of the World, Unite’'!’