This was announced by the Ministry of Finance of the country. in statement that it made Eurobonds worth $565 million due this year and Eurobonds worth $84 million, set to mature in 2024. Both payments were made in US dollars, the Treasury Department said. required the terms of the bond agreement.
“Payments were made in currency of issue of corresponding Eurobonds — in US dollars,” the Ministry of Finance of Russia reported. in statement. “In this way commitment of sovereign Eurobonds are serviced out in compliance of conditions laid down out in in issue documentation.”
Bond payments usually come with 30 day grace period. For these bond payments, the grace period ends on May 4. know if S&P changes his opinion about the default of Russia. As of sanctions, the credit rating agency downgraded the rating on Russian debt on 15 April.
Russia has money pay your debts. This is just Can not access about half of these funds after the West imposed unprecedented sanctions on its foreign exchange reserves are about $315 billion.
But Russia seems to found a way to pay off hundreds of millions of dollars in debt without access to his frozen stocks. US Treasury official said the payment must have come from new heap of money because he didn’t remove his restrictions on Dollars subject to Russian sanctions, Reuters reports.
Since then, the country has been able to scale back on it’s dramatic rate hikes including another surprise rate cut friday.
– CNN’s Claire Sebastian contributed to this report.
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