Comment: If you actually read the article, you realize that the headline and the article are really two different things.
When you think of someone defaulting on debt, you think they are bankrupt, poor, and weak.
When you read the article you come across these statement (there are others like it):
"after Russia’s attempts to pay in its ruble currency were blocked by international sanctions."
"indicating that Russia may be entering its first foreign debt default since 1918, despite having ample cash and willingness to pay."
SO.......Russia did not default because it is hurting, Russia defaulted because the West would not allow them to make payments. Who are the bondholders, well, at least some of them are from Taiwan, the "West" itself.
ALSO.....No mention of Russia setting up an alternative SWIFT system. No mention of the EU, Japan and the USA starting emergency and unconventional measures because their financial systems are "fragmenting" or a better word might be Imploding.
SEEK TRUTH.