Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Putin approves paying foreign creditor in rubles

  • By Al Mayadeen net
  • Source: Agencies
  • 6 Mar 2022 15:01
3 Min Read

Russian companies can now pay foreign creditors in rubles to avoid defaults.

  • x
  • Putin approves paying foreign creditor in rubles
    The European Union had announced that it made the decision to disconnect a wide array of Russian banks from SWIFT (Reuters)

While capital control remains in place, Russia and Russian enterprises are now permitted to pay international creditors in rubles as a measure to avert defaults.

Russian President Vladimir Putin signed the decree on Saturday that establishes provisional rules for sovereign and corporate debtors to follow in order to pay creditors from "countries that engage in hostile activities" against Russia, its firms, and residents. The Russian government will publish a list of said countries within days.

After the West did not respond to Russia's demands, and amid Ukrainian shelling on the Donetsk and Lugansk People's Republics, Putin initiated a special military operation in Donbass. 

The new regulation, which comes three weeks after Washington and Brussels adopted broad sanctions aimed at Moscow's banking industry, applies to monthly payments in excess of 10 million rubles ($81,900). Payments will be considered done if they are made in rubles at the official rate of the Central Bank of Russia.

The regulation states that debtors can ask a Russian lender to form a special "C" ruble-denominated account in the name of international creditors for settlement with local creditors to be paid through Russian depositories.

Related News

US uses tariffs to strongarm India on Russia ties

China, Russia launch Maritime Interaction-2025 drills in Sea of Japan

Russian business bonds denominated in foreign currencies plummeted as a result of the financial sanctions imposed on Russia for its military operation in Ukraine. Moscow replied by severely restricting access to foreign currency, limiting bondholders' ability to receive interest and principal payments.

Euroclear and Clearstream, two International Central Securities Depositories (ICSD), ceased clearing rouble-denominated transactions earlier this week. All securities issued by Russian businesses were barred from all Triparty transactions, limiting access to the mechanism normally used to make bondholder payments.

Creditors from Russia and other countries that have not joined the sanctions will be able to receive debt payments in rubles or foreign currency after obtaining a special license from the Central Bank, according to a statement from the regulator.

Russia has alternatives to SWIFT: Central Bank

Russian banks can use the financial messaging system of the Bank of Russia (FMS) to transfer information within the federation, and they are able to use other channels for international transferring in isolation from the SWIFT system, the Bank of Russia said Wednesday as sanctions mount against Moscow.

The European Union had announced that it made the decision to disconnect a wide array of Russian banks from SWIFT, seven, to be exact.

The banks, VTB BANK, Bank Otkritie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcombank, and Vnesheconomban, would not be able to transmit financial information to counterparties on domestic transactions and international transactions.

The West disconnecting the Russian banks from the SWIFT system is part of its pressure on Moscow in light of the Russian special operation in Ukraine over NATO's eastward expansion.

  • Russia
  • Washington
  • Vladimir Putin

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS