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 Russia slips into default zone as payment deadline expires Reuters, LONDON, June 27 - As some bondholders claimed they had not paid past-due interest on Monday after a crucial payment deadline expired the previous day, Russia appeared on track for its first sovereign default in decades. Since its invasion of Ukraine on February 24, Russia has failed to make bond payments totaling $40 billion since extensive sanctions have virtually closed off the nation from the world's financial system and made its assets inaccessible to many investors. The Kremlin has said time and time again that there is no reason for Russia to go into default, yet sanctions prevent it from paying bondholders, and it accuses the West of trying to force it into a fake default. Source The Office of Foreign Assets Control (OFAC) of the U.S. Treasury Department effectively stopped Moscow from making payments in late May, making Moscow's attempts to avert what would be its first significant default on internati...