The Russian Central Bank has paid $117mn in interest on two dollar-denominated bonds, dispelling fears the nation was at risk of a debt default, AFP reports.
The obligation looked vulnerable due to the severe financial sanctions imposed on Moscow over the attacks in Ukraine. However, the payment went through on Monday according to the statement from Russia’s finance ministry.
Last time Russia defaulted on its foreign debt was over a hundred years ago after the Red Revolution, as Vladimir Lenin refused to recognize the debts of the deposed tsar’s regime.
