Russia is to halt bond sales for the rest of the year and take legal action if sanctions force it into a default on its debt, Russian Minister of Finance Anton Siluanov told Russian newspaper Izvestia.
Siluanov’s comments came days after the government breached the terms on two bonds by paying investors rubles instead of US dollars, and its credit grade at S&P Global Ratings was cut to “selective default.”
The threat of default has been hanging over Russia for weeks after it was hit with sanctions because of its invasion of Ukraine.
The Russian government said that it has the funds to
Siluanov pointed out that, even with the Ministry of Finance’s foreign currency accounts and the Central Bank’s foreign exchange reserves frozen, Russia kept. 10.04.2022, Sputnik International
US Treasury Secretary Janet Yellen will meet this week with a bipartisan group of senators to discuss the possibility of freezing Russia's $132 billion in gold reserves, the news website [.]