What happens with bond payments due Wednesday could kickstart Russia’s first foreign-currency default since the 1917 revolution Russian Police officers run to detain a man holding a poster that reads “No to war,” during a protest outside the Kremlin on March 13. Photographer: Getty Images Russia’s economy is fraying, its currency has collapsed, and its debt is junk. Next up is a potential default that could cost investors billions and shut the country out of most funding markets. Warning lights are flashing as the government kickstarts the process of paying $117 million in interest on dollar bonds Wednesday, a key moment for debt holders who’ve already seen the value of their investments plunge since Russia invaded Ukraine last month. The government says that all debt will be serviced , though it will happen in rubles as long as sanctions — imposed because of the war — don’t allow dollar […]