Category: Roubles

Breaking Ranks With EU, Hungary Says Ready to Pay for Russian Gas in Roubles

April 6, 2022
Business & Economycommoditieseconomic policieseconomyEUEuropeGasHungaryMarketsRoublesRussiaRussia-Ukraine WarUkraineWorld
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BUDAPEST/LONDON—Hungary said on Wednesday it was prepared to pay roubles for Russian gas, breaking ranks with the European Union which has sought a united front in opposing Moscow’s demand for payment in the currency. Hungary will pay for shipments in roubles if Russia asks it to, Prime Minister Viktor Orban told a news conference on…

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Russia to Pay Eurobonds in Roubles as Long as Reserves Remain Blocked

April 6, 2022
Business & Economycrisiseconomic policieseconomyEurobondsEuropeMarketsRoublesRussiaRussia-Ukraine WarUkraineWorld
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LONDON—Russia edged closer to a potential default on its international debt on Wednesday as it paid dollar bondholders in roubles and said it would continue to do so as long as its foreign exchange reserves are blocked by sanctions. The United States on Monday stopped Russia from paying holders of its sovereign debt more than…

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Sanctioned Russian Bank VTB Pays Bond Coupons in Roubles

April 5, 2022
bankBusiness & EconomyCompaniescouponseconomic policieseconomyEuropeMarketsRoublesRussia-Ukraine WarRussiansanctionsUkraineVTBWorld
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Sanctioned Russian lender VTB has made coupon payments in roubles to holders of its domestic subordinated bonds denominated in dollars and euros, the National Settlement Depository said on Tuesday. Russia’s ability to continue servicing debt in foreign currencies is in focus as the government, which has so far avoided a default, faces issues paying holders…

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Buyers of Russian Gas Confused Over Putin’s Demand for Payment in Rubles

March 24, 2022
Business & EconomyeconomyEuropeinflationMarketsRoublesRussia-Ukraine Warrussian gasWorld
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Asian and European importers of Russian gas remained puzzled on Thursday after Russian President Vladimir Putin said earlier that “unfriendly” countries must pay for Russian gas in roubles. There are over 45 countries on Russia’s “unfriendly” list, including Austria, Germany, and Japan, where politicians and gas buyers on Thursday expressed confusion about how to handle…

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Russia Says It May Have to Service Foreign Exchange Debt in Roubles Due to Sanctions

March 14, 2022
Business & Economydebteconomic policieseconomyEuropeexchangeforeignMarketsRoublesRussiaRussia-Ukraine WarsanctionsWorld
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Russia’s finance ministry is preparing to service some of its foreign currency debt on Wednesday, but such payments will be made in roubles if sanctions prevent banks from honoring debts in the currency of issue, the ministry said on Monday. “Is that a default? … From Russia’s point of view, we are fulfilling our obligations,”…

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