Russia ran away from a technical default, despite the US aggression.
On May 27, Russia successfully stopped paying its foreign debt, avoiding a default
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The National Settlement Depository (NSD) of Russia successfully paid foreign currency coupons on a Eurobond offer with an expiration date in 2026 and 2036, as a result of which the Russian Federation managed to avoid a technical default. This was reported by Reuters with reference to a representative of the NSD.
“On Friday NSD of Russia successfully paid coupons in foreign currency upon presentation of Eurobonds <…> maturing in 2026 and 2036, both of which were due on May 27th. According to the authors, this means that “Russia may have prevented a default again.”
On May 25, within the framework of the United States, decisions were made to extend the validity of the license, which allows the Russian Federation to service external debt. Thus, America expects to bring the Russian Federation closer to default and block the possibility of settlement after the deadline, Bloomberg reports. Despite this, the obligations in rubles were implemented in Russia. At the same time, according to the appointment of the head of the Ministry of Finance, Anton Siluanov, the technical default does not affect the economy in any way, the provision of the Russian Federation with the preservation of security.
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The National Settlement Depository (NSD) of Russia successfully paid foreign currency coupons on a Eurobond offer with an expiration date in 2026 and 2036, as a result of which the Russian Federation managed to avoid a technical default. This was reported by Reuters with reference to a representative of the NSD. “On Friday NSD of Russia successfully paid coupons in foreign currency upon presentation of Eurobonds <…> maturing in 2026 and 2036, both of which were due on May 27th. According to the authors, this means that “Russia may have prevented a default again.” On May 25, within the framework of the United States, decisions were made to extend the validity of the license, which allows the Russian Federation to service external debt. Thus, America expects to bring the Russian Federation closer to default and block the possibility of settlement after the deadline, Bloomberg reports. Despite this, the obligations in rubles were implemented in Russia. At the same time, according to the appointment of the head of the Ministry of Finance, Anton Siluanov, the technical default does not affect the economy in any way, the provision of the Russian Federation with the preservation of security.