The whole issue is pretty much a moot point since the American government has already seized enough money from Russia to pay the debt.
How to tell the class you are not holding Russian debt and don't understand how things work.
The holders of the bonds are not getting any of the dollars the USA has seized and they refuse to be paid in Rubble Rubles.
Russian accounts that were frozen by the West were then used to make Russian debt payments.
"Washington imposed harsh sanctions on Russia's central bank in late February, days after the invasion of Ukraine, blocking Americans from engaging in any transactions involving it.
In early March, however, the U.S. Office of Foreign Assets Control (OFAC) authorised transactions for U.S. persons for "the receipt of interest, dividend, or maturity payments in connection with debt or equity" issued by Russia's finance ministry, central bank or wealth fund - an exemption that runs out on May 25."
