Russia to settle Eurobond debt in mirror of EU payments for gas

Russia is being pushed closer to default by sanctions and restrictions imposed as punishment for its invasion of Ukraine.

Foreign investors can open accounts in Russian banks in rubles and hard currency to receive payment, Finance Minister Anton Siluanov told  Vedomosti, a Russian outlet. Picture: Sergei Chuzavkov

Russia is constructing a way to pay its Eurobond debt that would sidestep the western financial infrastructure, now mostly off-limits because of the war in Ukraine, Finance Minister Anton Siluanov was cited as saying in an interview with Vedomosti.

Foreign investors can open accounts in Russian banks in rubles and hard currency to receive payment, Siluanov told the Russian outlet. In short, it’s a reverse-image of the way European nations now pay for Russian gas while avoiding obstacles imposed by sanctions.