Fearing Default, Russia Paid Foreign Dollar Debt In Rubles
Russia said Wednesday it had made foreign debt payments on dollar-denominated bonds in rubles, after a correspondent bank refused to execute payment instructions.
The finance ministry said in a statement that it had been forced to repay $649.2 million to foreign debt-holders in rubles, in another blow to Russia's efforts to avoid a sovereign default amid wide-ranging economic sanctions over the conflict in Ukraine.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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