Business Maverick: Putin’s Ruble Workaround Still Leaves Bond Payments in Doubt

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Russia and Russian companies will be allowed to pay foreign creditors in rubles, according to a decree signed by President Vladimir Putin on Saturday, as a way to service debt while capital controls remain in place.

stopped accepting the ruble as settlement currency and have excluded all securities issued by Russian entities from all Triparty transactions, barring a traditional channel used to make payments to bondholders.Russia’s central bank said it will temporarily ease reporting requirements for Russian lenders in an effort to shield them from the pressure of sanctions.

Russia’s Central Bank said on Sunday that foreign creditors from countries that have not imposed sanctions may be able to receive the payment in the currency in which the debt is denominated if the Russian debtor gets a special permission to do so.territory by Moody’s Investors Service on Sunday. The rating assessor cited expectations that capital controls by the central bank will restrict cross border payments including for debt service on government bonds.

“This means that bonds with ruble fallback provisions can neither trigger CDS nor be delivered into CDS,” Nguyen said in emailed comments on Sunday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

It was very difficult for me and my family to feed during the pandemic am so grateful to god for letting me come across Nelly_wa_Macha

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: PwC, KPMG Announce Departure From Russia Over War in UkrainePricewaterhouseCoopers LLP is set to exit Russia after 30 years of doing business there, and KPMG LLP is pulling out of Russia and Belarus in response to the war in Ukraine. 𝙸 𝚓𝚞𝚜𝚝 𝚖𝚊𝚍𝚎 R100k 𝚒𝚗 5 𝚍𝚊𝚢𝚜 𝚘𝚏 𝚝𝚛𝚊𝚍𝚒𝚗𝚐, 𝚒𝚝'𝚜 𝚞𝚗𝚋𝚎𝚕𝚒𝚎𝚟𝚊𝚋𝚕𝚎! 𝙰𝚕𝚕 𝚝𝚑𝚊𝚗𝚔𝚜 𝚝𝚘 Nelly_wa_Macha 𝚐𝚛𝚊𝚝𝚎𝚏𝚞𝚕 𝚖𝚊, 𝙸'𝚕𝚕 𝚔𝚎𝚎𝚙 𝚘𝚗 𝚝𝚎𝚜𝚝𝚒𝚏𝚢𝚒𝚗𝚐 𝚘𝚏 𝚢𝚘𝚞𝚛 𝚐𝚘𝚘𝚍𝚗𝚎𝚜𝚜 It was very difficult for me and my family to feed during the pandemic am so grateful to god for letting me come across Nelly_wa_Macha
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Oil Prices Soar as Russian Embargo Talk Fuels Fears of Supply ShortageOil surged, briefly touching $139 a barrel, in a dramatic start to another tempestuous week after the U.S. said it was discussing a ban on Russian crude imports, fanning supply fears in an already jittery market. 𝙸 𝚓𝚞𝚜𝚝 𝚖𝚊𝚍𝚎 R100k 𝚒𝚗 5 𝚍𝚊𝚢𝚜 𝚘𝚏 𝚝𝚛𝚊𝚍𝚒𝚗𝚐, 𝚒𝚝'𝚜 𝚞𝚗𝚋𝚎𝚕𝚒𝚎𝚟𝚊𝚋𝚕𝚎! 𝙰𝚕𝚕 𝚝𝚑𝚊𝚗𝚔𝚜 𝚝𝚘 Nelly_wa_Macha 𝚐𝚛𝚊𝚝𝚎𝚏𝚞𝚕 𝚖𝚊, 𝙸'𝚕𝚕 𝚔𝚎𝚎𝚙 𝚘𝚗 𝚝𝚎𝚜𝚝𝚒𝚏𝚢𝚒𝚗𝚐 𝚘𝚏 𝚢𝚘𝚞𝚛 𝚐𝚘𝚘𝚍𝚗𝚎𝚜𝚜
Source: dailymaverick - 🏆 3. / 84 Read more »