Russia cannot pay its debt on bonds
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Default on external obligations began to threaten Russia due to the US decision not to renew the license, which allowed Moscow to pay its public debt in dollars, despite the sanctions.
Payments on Russian government bonds did not come to the accounts of foreign investors by the evening of May 27, informs Bloomberg agency.
May 27 was the payment date for the Russia-2026 and Russia-2036 bonds (USD 71.25 million and EUR 26.5 million, respectively). According to the agency, if the money is not received in the accounts within 30 days, a default will be declared on Russian foreign obligations.
The National Settlement Depository, to which the Ministry of Finance of the Russian Federation transferred money for payments on May 27 in advance, said on Friday evening that the funds for making payments were withdrawn from the account.
Around talk about the default of Russia. What does it mean
The Russian Ministry of Finance believes that it has fulfilled its obligations by transferring money to NSD. According to Bloomberg, it is NSD that is the registered holder of the bonds, which “may support Russia’s argument that it avoided default even if the money was not sent to the accounts of individual investors.”
Default on external obligations began to threaten Russia due to US decisions not to renew licensewhich allowed Moscow to pay its public debt in dollars, despite the sanctions.
On May 26, Russian Finance Minister Anton Siluanov said that the technical default threatening Russia “will not affect the economy in any way.”
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