• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Russia-Ukraine War Latest News: Journalist Killed in Russian Strike on Kyiv Identified – The Wall Street Journal

April 29, 2022
in News
0
Russia-Ukraine War Latest News: Journalist Killed in Russian Strike on Kyiv Identified – The Wall Street Journal
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Russia said it had made payments on two dollar-denominated bonds, potentially staving off a default on the country’s foreign debt.

The nearly $650 million in payments were made in dollars to a London branch of Citigroup Inc. that processes payments on behalf of bondholders, Russia’s finance ministry said Friday.

The money from Russia’s bond payments must land in bondholders’ accounts by Wednesday, the end of a 30-day grace period after Russia missed a payment in early April. Otherwise, the country can officially be called in default by its creditors.

The move to pay in dollars marked a reversal, as Russia’s finance ministry had earlier insisted on making the bond payments in rubles.

Western sanctions imposed over Russia’s invasion of Ukraine have complicated the country’s efforts to make sovereign bond payments. In early April, the Biden administration blocked Russia from using U.S. banks to make good on foreign debt payments. By doing so, the White House revoked an earlier exemption that had allowed Moscow to use American bank accounts to stay current on its public debts and effectively pushed Russia toward default.

Russia’s finance ministry in April tried to remit funds owed to creditors through its correspondent bank, JPMorgan Chase, but the bank declined to process the payments because the U.S. Treasury didn’t grant approval. Russia then said it had paid the bondholders in rubles, after which it said it considered its obligations fulfilled.

But foreign creditors saw the situation differently. Under the terms of both bonds, payments must be made in dollars. An industry body overseeing swap contracts that insure against default on Russia’s dollar bonds recently ruled that the Kremlin would fail to meet its obligations by paying creditors in rubles. Credit ratings agencies have also said that ruble payments aren’t sufficient and would lead to default.

By backing down and paying in dollars, Russia is apparently hoping to avoid the consequences and complex ripple effects that could result from being declared in default.

Still, Russia isn’t out of the woods yet. The U.S. could still potentially trip up Russia by seeking to block the money from flowing into the hands of bondholders by the end of the grace period, or Citigroup could decline to pass on the funds on behalf of the Kremlin.

Russia made the payments tapping funds that haven’t been frozen by sanctions, according to a bondholder who has been tracking Moscow’s efforts to make the payments.

Russia has stayed current on its foreign debts since the beginning of the conflict with Ukraine, but the latest payments were the first to come after the Biden administration’s roadblocks, which severely complicated Russia’s ability to service its debt.

Previous Post

Hollywood Brown “always wanted” reunion with Kyler Murray after requesting trade – NBC Sports

Next Post

Aquas Barbie Girl wont be in the Barbie movie – The Verge

Related Posts

Billboard Music Awards 2022 full winners list – New York Post
News

Billboard Music Awards 2022 full winners list – New York Post

https://nypost.com/2022/05/15/billboard-music-awards-2022-winners-live-updates/

Read more
Nine Numbers That Tell the Story of the Mavs’ Evisceration of the Suns – The Ringer
News

Nine Numbers That Tell the Story of the Mavs’ Evisceration of the Suns – The Ringer

https://www.theringer.com/2022/5/16/23074464/phoenix-suns-dallas-mavericks-luka-doncic-chris-paul-game-7

Read more
Janet Jackson makes surprise Billboard Music Awards appearance to honor fellow icon Mary J. Blige – Yahoo Entertainment
News

Janet Jackson makes surprise Billboard Music Awards appearance to honor fellow icon Mary J. Blige – Yahoo Entertainment

https://www.yahoo.com/entertainment/janet-jackson-makes-surprise-billboard-music-awards-appearance-to-honor-fellow-icon-mary-j-blige-055510880.html

Read more
Lawyer charged with lying to FBI in Russia probe faces trial – The Associated Press – en Español
News

Lawyer charged with lying to FBI in Russia probe faces trial – The Associated Press – en Español

https://apnews.com/article/russia-ukraine-2022-midterm-elections-donald-trump-presidential-campaigns-1e5fdca26bbb6d5aab9e5027f67c76b0

Read more
North Koreas Kim orders military to stabilise supply of COVID drugs – Reuters.com
News

North Koreas Kim orders military to stabilise supply of COVID drugs – Reuters.com

https://www.reuters.com/world/asia-pacific/nkoreas-kim-orders-military-stabilize-drug-supply-amid-covid-19-outbreak-2022-05-15/

Read more
Load More
Next Post
Aquas Barbie Girl wont be in the Barbie movie – The Verge

Aquas Barbie Girl wont be in the Barbie movie - The Verge

  • Trending
  • Comments
  • Latest
6 Injured After Small Plane Crash Lands on Miami Bridge, Hitting SUV and Catching Fire – NBC 6 South Florida

6 Injured After Small Plane Crash Lands on Miami Bridge, Hitting SUV and Catching Fire – NBC 6 South Florida

Six times actors really romped in sex scenes that make 365 DNI look tame

Six times actors really romped in sex scenes that make 365 DNI look tame

Horror as goat gives birth to ‘humanoid kid’ with baby-like face

STUFFED GREEN PEPPERS – The Southern Lady Cooks

STUFFED GREEN PEPPERS – The Southern Lady Cooks

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

Getting Less Than 6 Hours of Sleep Raises Dementia Risk — Best Life – Best Life

Getting Less Than 6 Hours of Sleep Raises Dementia Risk — Best Life – Best Life

Colorado has identified five cases of a mystery hepatitis in children – The Colorado Sun

Colorado has identified five cases of a mystery hepatitis in children – The Colorado Sun

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

The ‘Strange Slope’ optical illusion in China where uphill looks like downhill

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

Robot-assisted surgery can cut blood clot risk and speed recovery, study finds – The Guardian

Getting Less Than 6 Hours of Sleep Raises Dementia Risk — Best Life – Best Life

Getting Less Than 6 Hours of Sleep Raises Dementia Risk — Best Life – Best Life

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Posting....