May 25, 2022
Russia to Service Dollar Debt in Rubles After US Closes Loophole
Bloomberg News
,(Bloomberg) -- Russia will service its foreign debt in rubles because the expiry of a US sanctions loophole means Moscow can no longer make payments in dollars, the Finance Ministry said in a statement.
Payments will be made to foreign investors’ type ‘C’ accounts, which they will be able to access after applying to Russia’s National Settlement Depository, the ministry said.
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