Russia says it ma🐼y use an arrangement similar to that used fo💯r payments for its gas supplies to pay its dollar-denominated foreign debts.
Russia’s Finance Minister Anton Siluanov, was quoted as saying that the country will offer ಌthe holders of its Eurobond obligations a payment❀ system bypassing Western financial infrastructure.
Russia says it ma🐼y use an arrangement similar to that used fo💯r payments for its gas supplies to pay its dollar-denominated foreign debts.
The Vedomosti business daily on Monday quoted Finance Minister Anton Siluanov as saying that Russia 🔴will offer the holders of its Eurob🅰ond obligations a payment system bypassing Western financial infrastructure.
Russia previously has offered natural gas custo꧅mers to establish an account in dollars or euros at Gazprombank, then a second account in rubles. The importer would pay the gas bill in euros or dollars and direct the bank to exchange the money for rubles.
The system 🎃aims to avoid a risk of payments for gas being frozen as part of West🍷ern sanctions against Russia for its actions in Ukraine.
Siluanov told Vedomosti that a similar mechanism will be set for Eurobond holders, with an offer to open foreign currency and ruble accounts at a Russian bank🌺.
“In payments for gas, we are c🌺redited with foreign currency and it's converted into rubles♓,” Siluanov was quoted as saying. “The Eurobond settlement mechanism will work in the same way, just in the other direction.”