Kremlin: Any Russian Bond Default Would Be 'Entirely Artificial'

The Kremlin said on Thursday that Russia had the funds necessary to service its foreign bonds so any default would be entirely artificial.

"The fact is that from the very beginning we have said that Russia has all the necessary funds and potential to prevent a default — there can be no defaults," Kremlin spokesman Dmitry Peskov said.

"Any default that could arise would have an entirely artificial character," Peskov said.