Sanctions-imposed Russia on brink of historic debt default

• International sanctions on the Russian central bank have frozen $630 billion foreign exchange reserves

• Russia defaulted on sovereign foreign currency debt during the Bolshevik Revolution in 1918

Russia is likely to default on its foreign currency debts for the first time in decades, with fears mounting that the economy and its currency, Rouble, to collapse further.

Moscow was due to pay $117 million in interest on two U.S. Dollar-denominated sovereign Eurobonds on Wednesday, which it had sold back in 2013.