MOSCOW, August 18. /TASS/. Russian Railways has started payments on Eurobonds through the National Settlement Depositary as part of execution of a corresponding decree by Russian President, the press service of the company said in a statement on Thursday.

"Russian Railways is starting to make payments on Eurobonds as part of execution of a decree by President of the Russian Federation dated July 5, 2022. As defined by the Bank of Russia, funds in rubles will be transferred by the company to the National Settlement Depositary," the statement said.

Consequently, holders of Eurobonds will be able to receive coupon yield payments in rubles.

The company will submit a request to the National Settlement Depositary for identifying holders of Eurobonds, rights on which are considered on depo accounts of the Depositary and Russian depositaries.

Russian Railways has transferred coupon yield and the principal of the loan on dollar bonds issued by RZD Capital PLC in 2012 with the rate of 5.7% due in 2022, according to the information provided. "The payment to holders of Eurobonds is to be made by the National Settlement Depositary on August 18, 2022," the holding said.

The railway monopoly intends to continue making payments to Eurobond holders similarly, including payments with due date in April-June of this year that were suspended earlier.

Currently 17 issues of Russian Railways’ Eurobonds are circulating, the company added.

After the start of the military operation in Ukraine the European Union imposed sanctions against many Russian companies, including Russian Railways.

The holding said in July it had applied to the Council of the European Union on lifting the restrictions. The EU’s sanctions restrict Russian Railways' fulfilling socially important, humanitarian functions, being discriminatory in regard to Russian people, the company said earlier, adding that the restrictions imposed also contradict the norms of the EU’s international law.

Sanctions have also affected the relationship with some companies. In particular, Germany’s Siemens has cut ties with Russian Railways without legal action, with export embargo on railway technics serving as the only basis for such a step by the German firm.

Later Russian Railways said technical maintenance of high-speed trains Sapsan and Lastochka would continue under the guidance and control of the holding within the framework of the Russian legislation.