[nine_zeros]

Debt owed to Russian citizens - ratings downgrade and devaluation of currency only

Debt owed to international entities - ratings downgrade, currency devaluation and a cushion from IMF that requires structural changes.

In Russia's case, the structural change may be a good thing. Perhaps with amendments to the constitution that allow for alternation of power.

[supergirl]

it’s not that Russia can’t pay. the article says Russia probably will choose not to pay. So I don’t think those things apply; it’s not a typical default