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HomeBusinessFearing Default, Russia Paid Foreign Dollar Debt In Rubles

Fearing Default, Russia Paid Foreign Dollar Debt In Rubles

Russia has made international debt funds in rubles

Russia stated Wednesday it had made international debt funds on dollar-denominated bonds in rubles, after a correspondent financial institution refused to execute cost directions.

The finance ministry stated in an announcement that it had been pressured to repay $649.2 million to international debt-holders in rubles, in one other blow to Russia’s efforts to keep away from a sovereign default amid wide-ranging financial sanctions over the battle in Ukraine.

(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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