Russia To Continue To Pay Foreign Debt Despite Sanctions: Ministry

25.05.2022 16:27

US move to deprive investors of Russia's payments damage confidence in Western financial system, Russian Finance Ministry says.

The Russian Finance Ministry announced on Wednesday that it will continue to pay foreign public debt despite all sanctions.

Noting that the US Treasury Department deprived investors of Russia's public debt payments, the ministry said these steps damaged confidence in the Western financial system.

The US announced on Tuesday that the exemption allowing Russia to make bond payments to US investors, which expires on Wednesday, will not be extended.

"The Russian Ministry of Finance will continue to make public debt payments despite all the restrictions," the statement read.

Finance Minister Anton Siluanov said they are able to pay the public debt.

He added that the current situation artificially created by "an enemy country" will not affect the quality of life of the Russians.

Russia's foreign public debt is around $60 billion.

*Writing by Gokhan Ergocun in Istanbul -