The funds were transferred to the National Settlement Depository, which is subject to international sanctions.
Russia’s Ministry of Finance has fulfilled its obligations under Eurobonds to foreign lenders in rubles. This was stated in the message of the Russian department on Thursday, June 23.
Pursuant to a recent decree by President Vladimir Putin, the payment of the equivalent of $ 234.85 million was made in rubles.
Funds for the payment of coupon income on bonds ending in 2027 and 2047 with a total of RUB 12.51 billion (at the official rate of RUB 53/USD) were transferred to the National Settlement Depository, which is under international punishment.
The Ministry of Finance of Russia considers fully fulfilling its obligations to the security service of the government of the Russian Federation.
As the Minister of Finance Anton Siluanov explained, “the main thing is that Russia made the payment, and the change of payment currency can not be considered as improper performance of debt obligations, especially in the conditions of force majeure, “reports The Bell.
Eurobond holders will have the right to dispose of the rubles received at their sole discretion. Includes – able to convert them to currency.
To withdraw money abroad, you will need to obtain permission separately. To do this, you will need to sign a waiver of all potential claims for this payment.
It will be recalled that at the end of May, the US Treasury announced that it would not renew the 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.
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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.