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Putin sets up procedure for Eurobonds payments in rubles

The government and the Ministry of Finance will identify banks for payments on Eurobonds under the new mechanism

MOSCOW, June 22. /TASS/. Russia's obligations under Eurobonds will be considered properly fulfilled if the payments are made in rubles, according to the decree of Russian President Vladimir Putin published on Wednesday.

In particular, the document establishes the specifics of working with foreign depositories, maintaining special accounts, adjusting funds, and paying coupons on bonds.

"Obligations under Eurobonds of the Russian Federation are recognized as fulfilled if they are made in rubles in an amount equivalent to the value of obligations in foreign currency and calculated using foreign exchange rate formed in the domestic foreign exchange market of the Russian Federation on the day when the Russian Federation made a payment to the central depository," the decree said.

Putin instructed the government and the Ministry of Finance to identify banks for payments on Eurobonds under the new mechanism within 10 days and settle the technical side of the issue.

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