5/25, 3:08 PM (Source: TeleTrader)
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Russia to repay debt obligations in rubles

Russian Finance Ministry stated on Wednesday it intends to continue servicing and repaying all debt obligations but that it will be forced to use the domestic currency. Yesterday, the United States Department of Treasury announced it will end the license allowing Russia to pay US bondholders.

The ministry slammed the US Treasury's decision, stating it "infringes on the rights of foreign investors who have invested in Russian debt instruments, and undermines confidence in the Western financial infrastructure." Russian Finance Minister Anton Siluanov (pictured) said that "there is money, and the willingness to pay is also present. This situation, artificially created by an unfriendly country, will not affect the quality of life of Russians."

Baha Breaking News (BBN) / DJ