INSUBCONTINENT EXCLUSIVE:
Moscow will start legal proceedings if it is declared in default by the West, Finance Minister Anton Siluanov said Monday, after Russia was
declared in "selective" default over the weekend.Russia last week paid its foreign dollar debt in rubles after it was unable to process the
invoices confirming our efforts to pay both in foreign currency and in rubles," he said, without specifying which legal body Moscow would
turn to.Credit ratings agency S-P on Saturday said Russia had gone into "selective default" after it repaid dollar-denominated bonds that
foreign currency to pay our debt
Nevertheless, the deliberate policy of Western countries is to artificially create a default by all possible means," Siluanov said."If an
economic and financial war is waged against our country, we are obliged to react, but while fulfilling our obligations," he added.For
several weeks, Russia avoided the danger of a default, as the U.S
Russia from making debt payments using funds held by American banks.The Russian finance ministry said Wednesday it was forced to make some
