'Statements of a default are absolutely unjustified,' Kremlin spokesperson Dmitry Peskov tells reporters.
Until last week, Russia kept on paying its Eurobonds in foreign currency as per issue conditions yet its dollar and euro coupon transfers made in May, ahead of a“Statements of a default are absolutely unjustified,” Kremlin spokesperson Dmitry Peskov told a call with reporters on Monday, pointing to the May forex coupon payment.
“The fact that Euroclear withheld this money and did not bring it to the recipients is not our problem. There are absolutely no grounds to call such situation a default.”On Monday, the finance ministry said that “actions of foreign financial intermediaries are beyond of the Russian finance ministry’s control,” asking foreign bondholders to speak directly to those withholding the payments.
As the US waiver expired and the European Union sanctioned the National Settlement Depository , the Russian version of Euroclear and Clearstream western clearing houses, last week
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