The Russian Finance Ministry said on Wednesday that it had paid rubles to foreign holders of Eurobonds for the first time as a foreign bank did not process order to pay US$ 649.2 million in a foreign currency.
The Russian Finance Ministry issued a statement in this regard. “In this regard, the Russian Finance Ministry was forced to use services of a Russian financial institution to make the necessary payments. On 4 April, the Russian Finance Ministry transferred funds to NBCO JSC ‘National Settlement Depository’ to make the said payments in the currency of the Russian Federation at the official exchange rate of the Bank of Russia as of 4 April in accordance with the decree of the president of Russia dated 5 March to the accounts of its depository clients for settlements with all holders of these debt instruments,” the ministry stated.