Russia says it fulfilled obligations on Eurobond coupons in full By Reuters

Russia says it fulfilled obligations on Eurobond coupons in full

Economy May 20, 2022 09:30AM ET

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Russia says it fulfilled obligations on Eurobond coupons in full

© Reuters. FILE PHOTO: A sign is on display outside Russia's Finance Ministry building in Moscow, Russia March 30, 2021. A sign reads: "Ministry of Finance of the Russian Federation". REUTERS/Maxim Shemetov/File Photo

(Reuters) -Russia has fulfilled obligations on paying coupons on two Eurobond issues in full, the finance ministry said on Friday, days before the May 26 deadline for coupon payouts.

The prospect of a Russia sovereign default is in the spotlight again with a deadline for a U.S. licence allowing Moscow to make payments expiring on May 25 and $100 million in interest payments due shortly after.

The finance ministry said it channelled $71.25 million on coupon payout for dollar-denominated Eurobonds maturing in 2026 and 26.5 million euros ($28 million) on papers due in 2036.

The national settlement depository has received the funds the ministry channelled, it said. It was unclear it the depository would be able to channel the funds itself so they could reach foreign holders of Russian Eurobonds.

Finance Minister Anton Siluanov said earlier this week that Russia had enough money to service its Eurobonds and would make payments in roubles if the United States blocks other options and would not call itself in default.

After the current licence allowing Russia to service debt expires on May 25, Russia will still have almost $2 billion worth of external sovereign bond payments to make before the end of the year.

($1 = 0.9461 euros)

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