The international credit rating agency Moody’s announced Russia’s inability to repay its external debt on European bonds (Eurobonds).
In a statement, the agency said that “the bond yields of the two June 27 European bond issues did not reach investors during the relief period, which constitutes a debt default as we define it.”
The agency did not rule out a recurrence of debt defaults at a later time, noting that the bonds are not denominated in Russian rubles, and the payment of their yield in this currency is considered a default, according to the agency.
It is noteworthy that last week Russia for the first time repaid its external debt on European bonds in Russian rubles using the new mechanism.
This is not a default, Russian Finance Minister Anton Siluanov said, as Russia is doing everything possible to pay off the debt, while the United States and the European Union are putting up artificial obstacles to prevent Russia from paying off the debt and declaring it.” unable to do so.