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‘Still Many Questions:’ Investors on Russia’s Latest Debt Rule

Bondholders are scrambling to understand new policy from the Russian government about paying debt.

A decree from Moscow over the weekend authorized Russia’s government and companies to pay foreign creditors in rubles on securities, including those denominated in other currencies. But its still unclear whether foreign investors will be able to actually receive the payments given the newly imposed sanctions and moves by clearing houses to stop accepting ruble as settlement currency.