Originally Posted by
vertical_doug
It's not what I say, it is what I do. No matter how much bluster is coming from Putin, the financial people in Russia are doing everything they can not to get completely wiped out here. The country is basically now at the same value it was in 1992 at the start of the voucher program. Putin's War has set the country back 30 years financially.
Russia Says Eurobond Coupon Payment Made to Correspondent Bank
2022-03-17 08:46:20.284 GMT
By Bloomberg News
(Bloomberg) -- Russia’s Finance Ministry said a $117
million interest payment due on two dollar bonds had been made
to Citibank in London amid mounting speculation that the country
is heading for a default.
The ministry said it will comment separately later on
whether the payment had been credited. The bank is Russia’s
eurobond payment agent.
Russia had until the end of business Wednesday to honor the
coupons on the two notes. If it doesn’t do so within the grace
period, that would be the first time the nation has reneged on
its obligations to foreign creditors since the Bolsheviks
repudiated the czar’s debts in 1918.
Finance Minister Anton Siluanov has repeatedly warned that
without access to its foreign reserves, Russia will make the
payment in rubles, outlining a process that involves
transferring the cash into local accounts. Fitch Ratings said on
Tuesday that making a settlement in any currency other than the
dollar within the grace period would be considered a default. S&P
Global Ratings made a similar statement earlier this month.