Russia is maneuvering to avoid bankruptcy, paying Eurobonds in rubles as with natural gas. Russia seeks to make payments for Eurobonds in rubles, which can be converted into another currency.
“The experience of paying for Russian gas in rubles has proven to be beneficial for both sellers and buyers, so this principle could also be used for Eurobond payments,” Kremlin spokesman Dmitry told reporters on Monday. Peshkov.
“This question must be asked of the Ministry of Finance. But overall, the experience of the gas deal (rubles), for example, has proved convenient for both sellers and buyers given the current conditions. So why not use it the other way around? ” He made the remarks when asked to what extent this system has been developed for Eurobonds, and whether it can be implemented before the June coupon payments.
Earlier, the Russian Minister of Finance Anton Siluanov told Vedomosti, a Russian newspaper, that Moscow plans to make payments to holders of Russian Eurobonds through a mechanism similar to the system for paying for Russian gas in rubles. To do this, foreign investors will have to open accounts in foreign currency and rubles in a Russian bank, the published information revealed.
Earlier, Siluanov said Russia was working on a mechanism to allow it to service its foreign debt, which expires in rubles in June, adding that it would continue to maintain its image as a credible borrower despite Western restrictions on public debt payments.
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