MOSCOW, March 6. /TASS/. The Russian Finance Ministry will honor obligations on service and redemption of Russian government securities timely and in full scope, the Ministry’s press service said.
"The Russian Finance Ministry will honor obligations on service and retirement of state securities of the Russian Federation in time and in full scope. As regards government securities of the Russian Federation with global certificates of their issues deposited in the National Settlement Depositary, payments, as before, will be made by remitting funds to the National Settlement Depositary for further crediting to holders of the given securities," the Ministry said.
Payments on such securities denominated in foreign currency will be made in favor of residents in rubles in the relevant equivalent as of payment dates, the Ministry noted. The actual opportunity of making state debt repayments in favor of nonresidents will depend on sanctions and "withdrawals prescribed by relevant licenses and permits," it said.
Payments under securities with their global certificates of issues kept in foreign depositaries will be made separately for securities accounted in Russian depositaries and held by Russian residents and for other ones, the Finance Ministry said. Payments in the former case will be remitted in rubles to the National Settlement Depositary. Actions to honor obligations will be performed for other securities "in accordance with the procedure set by the documents of the issues."
The actual opportunity of making such payments to nonresidents will depend on sanctions of foreign states. If it is not possible to make the payment because of restrictions, the Cabinet will make payment in rubles in accordance with the executive order of the Russian President.