Russia Plans Bond Payment System Like Rubles-for-Gas Scheme to Get Around Sanctions

Russia Plans Bond Payment System Like Rubles-for-Gas Scheme to Get Around Sanctions
File photo showing Russian Finance Minister Anton Siluanov at a meeting in Moscow, Russia, on March 12, 2020. Sputnik/Dmitry Astakhov/Pool via REUTERS
Tom Ozimek
Updated:

Russia’s finance chief said Moscow is planning a new system for making foreign bond payments similar to the rubles-for-gas scheme in an effort to prevent a historic sovereign default after Washington ended a key sanctions exemption that raised Russia’s chances of defaulting on its debt.

Anton Siluanov, Russia’s finance minister, was cited by Vedomosti on May 30 as saying that the new system that is in the works would basically mirror the one in place that lets foreign buyers of Russian natural gas settle the transactions without falling afoul of sanctions.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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