Russia assured on Thursday that it had paid a first tranche of interest linked to bonds, immediately removing the possibility of a default, while its assets abroad are frozen by Western sanctions.
"The payment order on the payment of interest on bonds (...) with a total value of 117.2 million dollars (...) has been executed," the Russian Finance Ministry said in a statement. a statement.
The ministry says it sent its funds to a “foreign bank” on March 14.
First installment in a long series
Moscow had until March 16 to pay these 117 million dollars, the first installment of a series of others expected in March-April.
In retaliation for the Russian military intervention in Ukraine, the portion of Russian reserves held abroad, approximately $300 billion, is frozen under Western sanctions.
Risky Western sanctions
These sanctions raise fears that Moscow will no longer be able to reimburse, and therefore threatened with default.
Western sanctions have crippled part of the country's banking and financial system and caused a collapse of the rouble.
A payment default cuts a state off from the financial markets and jeopardizes its return for years.
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Repayment
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