Russia may sell debts of foreign states to legal entities in debtor countries
In 2023, the Russian government will have the right to make decisions on the assignment of claims to foreign states for their debts. About it informs RBC with reference to materials for the draft budget. Foreign debts can be redeemed by non-sanctioned persons in the debtor countries, such a step allows you to receive revenues to the budget in the face of restrictions on interstate settlements in dollars and euros due to the US and EU sample.
A provision could be added to the budget that debts of foreign or legal entities to Russia that have become difficult to service due to acceptance can be assigned by Moscow to non-judicial volumes operating in the debtor countries. The time frame for the action of the assignment of claims in the materials is indicated in 2023.
In the documents it turns out that the innovation of the budget for the following recipients in the federal budget of foreign states before Russia. In the description in the materials, the mechanism provides that the settlements in Russia’s transactions for the sale of bilateral debts are carried out in currencies, they do not face blocking due to the collection.
Looking forward to 2022 US Treasury banned defense operations by the Central Bank, the Ministry of Finance and the National Welfare Fund (NWF). He took a similar measure to limit transactions with the Central Bank of Russia, de facto he banned transactions with the Euro-Russian government. VEB.RF (an agent for payments to Russia from foreign countries) came under EU and US sanctions.
At the end of 2022, interest on government loans provided to foreign governments and their legal entities is reduced by more than five times compared to the previous year. According to the materials of the draft budget, they will amount to 9.7 billion rubles against 52.1 billion rubles in 2021. In 2023, an estimate of the growth in receipts of such interest to 40.3 billion rubles.
In 2021, Russia issued a deficit of intersectoral export and financial loans in the amount of 318.8 billion rubles, and in the first quarter of 2022 – by 110.1 billion rubles. With export credits, they do not receive “live” money – they go to pay for goods, works, services.
According to the Central Bank, as of January 1, 2022, the debt of non-residents to the government cash flow was selected in the amount of $49 billion, of which $40 billion was received for debts in US dollars. According to the World Bank, by the end of 2020, foreign countries owe Russia $26 billion, including Belarus ($8.3 billion), Bangladesh ($3.3 billion), Venezuela ($3.1 billion), India ($3 billion), Yemen ($1 billion). .1 billion).