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Moscow makes interest payments on two foreign bonds

  • By Al Mayadeen Net
  • Source: Agencies
  • 17 Mar 2022 11:34
1 Min Read

Moscow announces paying its debt interest payment and avoiding default.

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  • Moscow pays interest payments on two foreign bonds
    Moscow pays interest payments on two foreign bonds.

Russia's Finance Ministry said Thursday it had carried out interest payments on two foreign bonds following fears Moscow may default on its debt after facing unprecedented draconian Western sanctions over Ukraine. 

"The payment order... worth $117.2 million due on March 15 was sent to a correspondent bank account on March 14 and was executed," the Ministry said in a statement.

Related News

Russia’s central bank cuts interest rate in a first since 2022

DPRK's Kim vows to 'unconditionally support' Russia in Ukraine war

Yesterday, Russia was scheduled to make its first interest payment on its foreign debt on Wednesday, the first since the West imposed sanctions on Moscow over Ukraine.

Moscow was due to pay $117 million on two dollar-denominated bonds.

Sanctions imposed in response to Russia's special operation in Ukraine have targeted $300 billion of the country's foreign currency reserves kept overseas. 

The Finance Ministry declared earlier this week that it had sent a payment order for "a total of $117.2 million," indicating a desire to pay.

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As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

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