BREAKING: Russia Made Its $117 Million Eurobond Interest Payment To Citibank

Russia has disclosed that it has made payment for the country’s $117 Million Eurobond Interest Payment To the United States bank, Citibank.

Brand News Day reports that this was made known by Russia’s Finance Ministry Anton Siluanov that a $117 million interest payment due on two bonds has been made to Citibank in London.

Recall that Russia has been denied access to its foreign reserves, Russia Finance Minister Siluanov said the country would make the payment in rubles, who in turn outlined a process that entails transferring cash into local accounts.

Russia Eurobond Interest Payment To Citibank

The ministry who made this disclosure during talks with Bloomberg, stated that it will comment separately later on whether the payment had been credited. Citibank is Russia’s Eurobond payment agent.

BrandNewsDay Nigeria had reported that Russia’s finance ministry said a temporary mechanism for repaying foreign currency debt had been approved but warned that payments would be made in roubles if banks were unable to honour debts in the currency of issue due to sanctions.

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