Russian Finance Minister Anton Siluanov pointed out that Russia has the only way to pay money to foreign investors under international Eurobonds, which is to pay them in Russian rubles.
The announcement came after the Russian minister clarified the reason for the ministry’s inability to make payments on international bonds in reserve currencies such as the euro, pound sterling or Swiss franc.
The Russian minister said that payment in rubles became the only way after the restrictions and sanctions imposed by Western countries, and said that “the body responsible for the redemption of bonds (National Settlement Depository) is included in the list of“ sanctions ”the European Union can no longer do this In addition, countries such as the UK and Switzerland have introduced a moratorium on the settlement of Russian public debt.
Therefore, Russia has no other choice but to pay in Russian currency for the delivery of money to foreign investors, the Russian finance minister believes.
He emphasized that Russia’s payment of Eurobonds in Russian currency does not mean a default, but rather is associated with an event related to force majeure.
Earlier on Thursday, the Russian Finance Ministry made ruble payments on two Eurobond issues for 2027 and 2047 and indicated that the amount of payments amounted to 12.51 billion rubles.
Source: RIA Novosti