According to the US Treasury Department, Russia is indebted abroad, thus avoiding bankruptcy. It was not immediately clear how much Moscow paid on Friday. However, the Russian Ministry of Finance indicated in April that it would pay $ 649 million for the two bonds to the unnamed US bank by the 6th of this month.
Sources in the US Treasury Department say that Russia has used its foreign exchange reserves abroad to pay off debts. The Russian treasury said the money was paid at Citigroup’s London branch.
Due to the sanctions against Russia for the war in Ukraine, Moscow tried to repay the debt in rubles. It argued that due to extraordinary events, the right to pay in Russian currency, not in dollars or euros. Investors and rating agencies disagree. Russia was given 30 days to pay. That deadline would end next week.
Keystone
Harper Lee is a contributor to Columbus Post, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. With a focus on clear reporting and useful information, Harper Lee follows current events and developments that matter to readers. Her work aims to present accurate, accessible coverage and thoughtful updates, helping audiences stay informed about important issues, emerging trends, and stories shaping communities and everyday life.
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