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Headline via Reuters:

• 
  e's government invokes moratorium law, will suspend foreign
  debt payments starting August 1 - resolution

More:

• e will not pay a $34 million coupon payment on a 2026-maturing Eurobond due on August 1. The government had an additional 10-day grace period to make the payment, but the government indicated it will not pay.
• e's restructuring plan to address its $20 billion of
  international debt. The invasion by  is now in its 29th month. This has been a drain on e finances.
• It is the second time in a decade that a n invasion
  has forced e to go through a debt restructuring, the last
  one being in 2015 after Moscow annexed Crimea.
  
•     The default - much like a similar situation in 2015 - is
  expected to be short-lived and have minimal long-term impact.