Bloomberg: Default risk in Russia persists due to sanctions

Bloomberg: Default risk in Russia persists due to sanctions
# 08 May 2022 00:26 (UTC +04:00)

Russia has paid money on two bonds, but the risk of default in the country still remains due to sanctions, APA reports citing Bloomberg.

According to the agency, due to the severe sanctions imposed by Western countries, investors cannot understand whether they will receive future payments due to them. Restrictions have greatly complicated the transfer of money, making it difficult and blocking the movement of funds, experts say.

According to the founder of the French consulting firm EM Conseil, Elena Daly, it is not only about the upcoming debt service payments, but also the need to finance the military operation in Ukraine and vital imports.

The US 9A General License, which can make payments on the bonds to investors, is due to be revoked on May 25, two days before coupons for approximately $100 million expire. If the US Treasury extends the revocation, Russia will be able to continue paying through its banks under sanctions as long as it has dollars and other currencies available domestically.


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