The Russian Finance Ministry said on Thursday it had paid interest on two foreign bonds, amid fears Russia could default on Western sanctions over Ukraine’s invasion.
“The payment order for the repayment of interest on the bonds … with a total value of 117.2 million dollars … has been carried out,” the Russian Finance Ministry said in a statement. release.
The Ministry indicated that it had sent the funds to a “foreign bank” on March 14.
Moscow had until March 16 to pay the $117 million, the first in a series of payments due in March and April.
Part of Russia’s reserves abroad, some 300 billion dollars, is frozen as part of Western sanctions over the war in ukraine.
The sanctions have also crippled parts of the country’s banking and financial system and caused the ruble to plunge.
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