Russian Federation authorities made payments ahead of schedule last week, but the next payment in June will not be possible due to U.S. actions.
Russia has made the payment of the public debt, scheduled for May 27, the next payment should take place only on June 23, The Guardian wrote.
Last Friday, Russia rushed payments on two international bonds – one in euros and one in dollars – a week before maturity.
Now the Russian Federation has two months to develop an additional strategy for servicing its external debt.
The other day, the U.S. Treasury announced that it would not renew its license to service Russia’s external debt. As a result, the Ministry of Finance of the Russian Federation will not be able to send money to holders of international bonds. Thus, the technical default of the Russian Federation could occur as early as the end of July.
According to Reuters, through their actions, the United States has brought Russia to the brink of a historic default.
In total, by the end of the year, payments on Russian Eurobonds amounted to nearly $ 2 billion.
The publication states that unlike most default situations, Moscow has no shortage of money. Debt payments are pale compared to revenues from oil and gas exports – in April alone, rising energy prices allowed Russia to receive $ 28 billion in revenue.
Recall that Russia was able to avoid a default in May. Then investors the day before the expiration of the term received payments in Russian dollars.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.