$13.7 Billion in Credit Default Swaps on Russia’s Debt Were Executed in 61-Day Span of 2021 as It Amassed Troops Around Ukraine

As the headlines in mainstream media grew ever more alarming in late 2021 regarding Russia’s troop buildup around Ukraine, approximately $225 million per day (or $13.7 billion over a span of 61 days) had been waged in bets that Russia might default on its sovereign debt.