MOSCOW, March 14. /TASS/. Russia is ready to make state debt payments in rubles at the exchange rate of the Central Bank. It is possible on Eurobonds issued since 2018, according to Finance Minister Anton Siluanov.
"We are also ready to make payments in rubles at the exchange rate of the Bank of Russia as at the date of payment. Moreover, on Eurobonds issued since 2018 this possibility was stipulated directly by issue documents," he was quoted as saying by the ministry’s press service. The freezing of Russia’s currency accounts may be considered as the foreign countries’ wish to organize its artificial default, Siluanov noted. "The freezing of currency accounts of the Bank of Russia and the government of Russia may be considered as the wish of a number of foreign countries to organize its artificial default, which has no real economic grounds," the minister said.
The statements on Moscow’s inability to repay its state debt obligations are false, Siluanov noted again. "The statements that Russia cannot repay its state debt obligations are false. The required funds to service our liabilities are in place," he said.
On March 5, Russian President Vladimir Putin signed a decree ‘On temporary order of completion of obligations to certain foreign creditors’, which allows repayment of debts in foreign currency to creditors from states that have performed "unfriendly actions" against Russia, in rubles, through special accounts in Russian banks.
The Russian Finance Ministry intends to exercise this right as Siluanov said on March 10 that on March 16 Russia would repay its foreign debt in foreign currency only in case its currency accounts - around $300 bln - are unfrozen. Otherwise, it will repay and service its currency liabilities in rubles.