“The subcommittee of the government commission for the control of foreign investment agreed with the proposals of the Ministry of Finance of Russia and the Bank of Russia to stop issuing permits for payments on Eurobonds in the manner determined by the issuance documentation,” the report says.
It is clarified that at the moment, due to the ongoing violations of the rights of Russian holders of Eurobonds by the international settlement and clearing system, payments on Eurobonds are received only by those holders of securities whose rights are recorded in a foreign accounting system.
“Money does not reach Russian holders of Eurobonds.
It will be possible to overcome the current circumstances if the applicants follow the recommendations developed by the subcommittee,” the Ministry of Finance explains.
The department added that the subcommittee also recommended that payments be made separately.
“In favor of the holders, whose rights are taken into account by the foreign accounting system, they will be carried out in the same order, through a foreign paying agent.
In favor of holders whose rights are recorded in the Russian accounting system, through a Russian paying agent, ”the ministry said.
Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, in an interview with Izvestia, recommended that domestic companies, when making debt payments, first of all settle accounts with investors from Russia and only then with foreign securities holders.