INSUBCONTINENT EXCLUSIVE:
frozen assets.The Russian government said that the payment had been "fulfilled" in U.S
In a statement on its official Telegram channel, the government added: "there are no problems with servicing the national debt."CNN reported
Russia will be unable to service foreign debts using its barred $300 billion of international reserves.It remained unclear whether
bondholders had received the payments Thursday morning, which had not arrived by the original due date of Wednesday evening, investors said
that investment bank JPMorgan Chase had processed the payment after checking with U.S
authorities as to the legality of the using the funds, according to unnamed sources.The payments, due Wednesday, were the first major
invasion and subsequent sanctions have pushed the Russian economy to the brink of a deep crisis
That year, Russia defaulted on its locally issued debt; the last time Russia failed to pay international bondholders was after the Bolshevik
Revolution in 1917.International investors have reduced their exposure to Russian government debt since Moscow annexed Crimea in 2014, and
Moscow owes less than $20 billion in foreign currency to foreign investors, according to calculations by the Institute of International
hard currency loans, investment bank JP Morgan estimates.
