Russian government announces it has paid interest on bonds: CNN – POLITICO

FRANKFURT – The Russian government says it has ordered investors to pay $117 million in government bond interest, insisting it did what it could to honor its obligations and avoid default. report Thursday.

However, that move did not put an end to what could be considered Russia’s first default since the Bolshevik revolution.

At issue is Russia’s request that it can use funds from its frozen non-ruble assets to make payments. That has now been made difficult, if not impossible, due to Western sanctions on Moscow, which have frozen Russian assets across the board, including its huge foreign exchange reserves. is held by central banks in Europe and the United States.

According to the report, Russia’s Finance Minister, Anton Siluanov, told state media Russia Today that Russia has done its part, but “the ability or inability to fulfill our obligations in foreign currency does not depend belongs to us.” According to Russia Today, Siluanov warned that payments may not be made if blocked by the US

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