Russia for the first time repaid dollar debt in rubles

Russia for the first time repaid dollar debt in rubles
Kremlin chief Vladimir Putin

In total, Russia has 15 outstanding international bonds with a face value of about $40 billion.

(Photo: AP)

Moscow Russia is one step closer to defaulting on its national debt: On Wednesday, the country paid off two foreign currency bonds in rubles instead of dollars for the first time.

The Ministry of Finance in Moscow insisted that all liabilities had been settled. The payment includes $649.2 million for two government bonds maturing in 2022 and 2042. The terms of the contract for the two Russian bonds actually stipulate that the loan will be settled in dollars and not in rubles.

rating agencies Fitch and s & P A few weeks ago, it was clarified that if the loan is repaid in a currency other than the agreed currency, they will consider it a default.

read now

Get access to this and every other article

Free for 4 weeks on the web and in our app.

Ahead

read now

Get access to this and every other article

Free for 4 weeks on the web and in our app.

Ahead

READ  Aakash Chopra picks MS Dhoni to guide all-time IPL XI
Written By
More from Cary Payne
Federal Foreign Office Calls China to Withdraw Sanctions
The Federal Foreign Office has called on China to lift sanctions against...
Read More
Leave a comment

Your email address will not be published. Required fields are marked *