Russia Says Sanctions on Key Market Link Won’t Hit Eurobond Plan
- Finance Minister reiterates goal to pay via unsanctioned banks
- Grace period on sovereign coupon runs out at end of month
Anton Siluanov attends the Saint Petersburg International Economic Forum, on June 16.
Photographer: Olga Maltseva/AFP/Getty Images
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Russia will push on with a plan to pay foreign creditors in hard currency after the US and EU tightened sanctions before a deadline at the end of the month that could tip the nation into default.
Speaking at the St. Petersburg International Economic Forum, Finance Minister Anton Siluanov reiterated the government’s goal of getting dollar and euro payments to bondholders via banks that have so far avoided sanctions over Russia’s invasion of Ukraine. At the same time, he gave no details on whether the plan had been presented to investors, or when it might be rolled out.