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Russia averts default
Russia’s dollar payments on two foreign bonds have reached foreign creditors despite Western fears of default.
Russia settled a $564.8mn payment on a 2022 Eurobond and a $84.4mn payment on a 2042 bond Friday. Major international clearinghouses have already received and processed the payments, according to Bloomberg sources.
In April, Moscow attempted to pay foreign holders of Eurobonds in rubles as Western nations froze almost half of Russia's foreign exchange reserves, worth over $300bn, as part of sanctions over Ukraine.
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