Russian President Vladimir Putin signed a decree according to which a new temporary procedure for fulfilling obligations on external currency duty of the Russian Federation is introduced. Payment will be made in rubles.
The National Settlement Depository (NRD), against which sanctions were previously imposed, will open ruble accounts such as “and” in the name of foreign depositarians for payments to holders of Russian Eurobonds. The procedure for determining the amount will be established by the Ministry of Finance of the Russian Federation.
The Russian authorities will consider obligations for Eurobonds if payments are made in rubles in the amount of the “equivalent value of obligations in foreign currency and calculated at the exchange rate of foreign currency, which was formed in the domestic foreign exchange market of the Russian Federation on the day when the Russian Federation was made to the central depository “.