Russia made a $117 million debt payment on Wednesday. The US Treasury Department would allow the payment to go through. If the dollar payment was not allowed, the Kremlin would pay in rubles, which would be considered a default. Russia says it made a $117 million bond payment to avoid default, and the US Treasury Department said it would allow the part of the payment. Russia's finance minister told state-run media that the country fulfilled a debt obligation, but noted that it was up to the US to decide if the payment would be allowed. The Treasury would allow the payment to go through. The paying agent for the money, Citigroup, received the payment and made a credit to the correspondent bank, according to the report. Representatives from Citigroup and JP Morgan did not comment on the matter. The interest payment was ordered on Monday by the finance ministry of Russia, according to a report. Moscow will be able to make payments to Americans on dollar- denominated debt until just after midnight on May 25 because of US sanctions, according to a Treasury spokesman. Russia said it would repay its foreign debt in rubles if dollar payments were not allowed. The investors are expected to be paid in dollars, according to the credit ratings agency. The bondholders haven't received the payments yet, according to sources. Russia's first foreign-currency bond default in 100 years occurred during the aftermath of the Bolshevik Revolution. A country's credit rating was recently slashed to junk from investment-grade, and the interest payment on two dollar bonds was a key test. Putin's forces launched a full-scale attack on Ukraine last month, unleashing a wave of sanctions from the West that have largely cut off Russia from global financial markets and blocked it from accessing about half of its $640 billion in foreign currency reserves. A previous version of the story said that Russia used dollars that were frozen by Western sanctions. The original article is on Business Insider. Russia may be on the verge of its first default on international debts since the Bolshevik revolution more than a century ago. On March 17th, Moscow was due to pay $117 million in interest on two dollar-denominated bonds. The funds had not been received according to some of the creditor. Russia's central bank is one of the institutions targeted by international sanctions. The Kremlin insists the payments have been made. The market will be updated later on whether the money reached Citibank. There was no response from the bank in London. Russia's finance ministry said it would make payments in roubles if it was possible to transfer dollars due to sanctions. If it isn't corrected within a 30-day grace period, it will still be considered a default by the ratings agency. Many more dramas may lie ahead, and that could rock global markets. The face value of Russia's international bonds is around $40 billion. The Kremlin says that it has enough money to make payments, and that a default would be artificial. The Moscow stock exchange had a record number of companies listing their shares, foreign money was flowing in and ordinary Russians were interested in investing. Your audience will be amazed by the smart tools in PowerPoint. Four Russian amphibious ships were spotted by Japan on Thursday. The Japanese military said the four ships sailed in the Tsuruga Strait that separates Honshu island and Hokkaido island, an unusual move for Russia. The defense ministry of Japan released pictures of the ships. According to a new book, Graham told the White House counsel that he would press for the 25th Amendment if Trump did not condemn the Capitol rioters. Russia may have averted its first external bond default in a century after some of its bondholders received payment in dollars, two market sources said on Thursday. The Russian finance ministry said it had sent funds to cover the coupon payments on the bonds. The first test of whether Moscow will meet its international debt obligations will be the payments due on March 16 but with a 30-day grace period. Work from anywhere with secure access to resources. A former leader of the Ku Klux Klan has qualified to run for office. Chester Doles held the title of Grand Klaliff. No one can de-platform me now that I have the protections against cyber-attacks that I bought for my Frank Speech app. Putin's identity politics are so chauvinistic. Add some Washington Wizards loyalty to your look with this hoodie jacket. The lining is warm and stylish. Russian President Vladimir Putin criticized Russians who opposed his war in Ukraine. Someone buys a man a drink. The US Senate bill to make daylight saving time permanent would mean no more time changes. On the other hand... The best home equity and cash out refinance rates are 2.3%. 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It is definitely a leap from the first movie in the series, according to a message from the film's director. It is going to be an adventure you will never forget, and it has been developed over a decade. The facial tumors grew large and painful. She had surgery that changed her life. Despite the spread of the new sub-variant, the U.S. daily cases and hospitalizations continue to decline. Mehmet Oz wants to keep Turkish dual citizenship. Drake was bitten by the sports card bug. The artist was recently reported.Business Insider
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