New York - As Russia deals with the heavy toll of Western sanctions and falling oil prices, a major credit ratings agency on Jan. 26 downgraded the country's sovereign debt to below investment grade, the first time it has fallen to that level in more than a decade.
Russia's War Against Ukraine
New York Times: Falling oil, sanctions push S&P to cut Russia’s debt to junk
Russian Prime Minister Dmitry Medvedev (R) accompanied by Dmitry Pumpyansky, head of TMK, Russia's largest maker of steel pipes for the oil and gas industry, visit the Seversky Tube Works in the town of Polevskoy, outside Yekaterinburg, Urals, on October.
