Payment of $ 650 million was made 11 hours before the end of the grace period
Russia has avoided a default on foreign debt bonds and has made planned dollar payments to investors. This was reported by Bloomberg.
Payments to investors for two issues of government bonds were received on May 3, the day before the deadline for their maturity.
According to the agency, clearing houses in Europe 11 hours before the end grace period (May 4) processed a payment of $ 650 million from the RF Ministry of Finance. After that, payments began to be distributed among the owners of Eurobonds “Russia-2022” and “Russia-2042”. The transaction was approved by the US Treasury Department because the payments were made from domestic foreign exchange earnings, not from sanctioned money.
Read also: Russia's default. What does this mean?
It will be recalled that the pre-default situation in Russia was already as of March 16, when preliminary payments on foreign debt were made. Given the sanctions, experts doubted that Russia would be able to make these payments in dollars. However, at the last moment, Russia found the necessary amount and made payments in dollars.
At the same time, experts postponed the possible default of the country to April 4, calling future payments unlikely. The non-payment of debt obligations on dollars on April 4 launched a grace period of 30 days.
