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Receivables from Russia may not reach investors

Receivables from Russia may not reach investors

On Wednesday, March 16, Russia will pay investors coupons on dollar bonds – a total of 117 million dollars. However, the Central Bank of Russia has banned sending foreign currency abroad.

– Paying interest on Russian dollar bonds in local currency will mean bankruptcy of the state after a grace period of 30 days, starting from March 16, – rating agency Fitch indicated, as reported on Wednesday by PAP. According to Fitch, quoted by the Financial Times, If Russia “try to pay interest on its dollar bonds in rubles, it means that … for the first time since 1998, it will not repay its debt.”

Investors are awaiting $117 million in coupons for Russian bonds, the first such payment since Western countries responded to President Vladimir Putin’s invasion of Ukraine with unprecedented financial sanctions. The “Financial Times” reported that this date is a major test of Moscow’s willingness and ability to continue to service its foreign debt.

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