Russian Default Risk at 2014 Low as Ukraine Threat Fades: Chart

The cost of insuring Russian debt against default has dropped back to levels last seen in July 2014, before the European Union sought to punish President Vladimir Putin with expanded sanctions for his role in the Ukraine crisis. Credit default swaps rose on Aug. 10 this year when Putin threatened to respond to what he called “terror” tactics by Ukraine. But the warnings went no further, and as fighting in eastern Ukraine abated, the risk premium fell.

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