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Russia began paying four times less on its debts due to sanctions

Image: Central Bank of the Russian Federation

The total debt of non-residents in Russia is about $50 billion. Among the biggest debtors: Belarus, Bangladesh, India, Vietnam and Yemen.

The aggressor country Russia in 2022 received four times less money than expected. Due to international sanctions, debtor countries have suspended payments on state loans, RBC reports citing data from the Russian Ministry of Finance on Friday, March 24.

So, last year debtor countries paid only 11.13 billion rubles ($145 million) of interest, although another amount was planned – 48.68 billion rubles (almost $635 million).

At the same time, the interest income on government loans in recent years has been significantly higher. So, in 2021, the Russian Federation received 52 billion rubles (about $680 million) in debt, and in 2020 – more than 64 billion rubles (about $835 million).

One of the main reasons is the ban on transactions with the Russian Central Bank, the Ministry of Finance and the National Welfare Fund (NWF).

At the same time, the Ministry of Finance of the Russian Federation does not see any tragedy here, but, on the contrary, they expect an increase in the amount of payments due to the assignment of debt obligations to various legal entities that operates in the territory of the debtor country and does not fall under anti-Russian sanctions.

The total debt of non-residents in Russia as of January 1, 2022 reached $49 billion. Among the biggest debtors are Belarus (about $8.5 billion), Bangladesh (about $4.4 billion), India ($3.3 billion), Vietnam ($1.5 billion) and Yemen (about $1.2 billion).

Remember that over the year the amount of Russian reserves decreased by almost $ 43 billion. This became known after the Central Bank of the Russian Federation resumed the publication of the structure of international reserves after a one-year break.

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Source: korrespondent

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