If the money is not credited to their accounts within 30 days, default will be declared on Russian foreign obligations
On May 27, Russia was to make payments on its foreign loans of 71.25 million dollars and 26.5 million euros. Meanwhile, by the evening of this day, the funds did not come to the accounts of foreign investors, Bloomberg reports.
According to the agency, if within 30 days the money does not come to the accounts, a default will be declared on Russian foreign obligations.
The National Settlement Depository, to which the Ministry of Finance of the Russian Federation transferred funds for payments on May 27 in advance, said on Friday evening that the funds for making payments were withdrawn from the account.
The Russian authorities believe that by transferring money to the National Settlement Depository, the country has fulfilled its obligations. It is the National Settlement Depository that, according to Bloomberg, is the registered holder of the bonds, which “may support Russia’s argument that it avoided default, even if the money was not sent to the accounts of individual investors.”
Recall that earlier the US Treasury Department announced its refusal to renew the license, which allows the Russian Federation to make payments to service external debt. The license expired on May 25 at 07:01 Moscow time. Now, in the absence of this permission, Russia will not be able to pay for government bonds in dollars.
Earlier, Russian Finance Minister Anton Siluanov said that a technical default threatening Russia due to the fact that the United States refused to renew a license that allows servicing external debt “will not affect the economy in any way.” According to Siluanov, the Russian Federation is a reliable borrower and will try to find an opportunity to pay off its obligations. Russia has sufficient currency and resources to pay off its external debt, a member of the Russian government said.
