Russia seemed to be avoiding bankruptcy on Friday, as it repaid a number of overdue international debts in dollars, reversing its recent policy of requiring ruble transactions. The Treasury Department said it paid $ 564.8 million in a 2022 Eurobond and $ 84.4 million in a 2042 bond in dollars, as specified in the bonds, Reuters reported. RUSSIA INVASES UKRAINE: LIVE UPDATES Russia has repeatedly faced the risk of bankruptcy since the West announced deadly sanctions that Moscow and banking officials have been able to combat through a series of tough and extreme measures, including capital controls and a near-stock market suspension. month. Russian President Vladimir Putin is chairing a meeting with members of the Security Council via teleconference in the Kremlin, Moscow, on Friday, April 29. Associated Press Officials remained eager to avoid the country’s first bankruptcy since the 1998 financial crash. Russia tried to pay for the bonds using rubles in early April, but banking and credit institutions did not expect the transaction to be processed due to legal requirements related to the type of currency used. Russian President Vladimir Putin had ordered that all payments for Russian energy should be made in rubles, to the point of cutting off their refusal to comply with Poland and Bulgaria. CHINA PROVIDES “LIP SERVICE” TO RUSSIA FOR INVASION IN UKRAINE, FORMER GENERAL GENERAL. LIEBERMAN WARNS Standards & Poor (S&P) downgraded Russia to foreign currency due to fears that it would not complete the payment on time despite the 30-day grace period. The head of the Bank of Russia, Elvira Nabiulina, warned that the country has not yet felt the full impact of the sanctions as Russia seemed to stabilize its economic free fall. DOW TUMBLES 938 POINTS, NASDAQ 4% AS APRIL WRITES LOST MONTH “Sanctions have affected the financial market, but now they will start to affect the real economy, more and more significantly,” he said last week. Anthony Kim, a researcher on economic freedom at the Heritage Foundation, had previously told FOX Business that Russia’s economic recovery was an “ongoing process” that would continue to get tougher as the invasion of Ukraine lasted. CLICK HERE TO READ MORE ABOUT FOX BUSINESS “There was an immediate shock or reaction from the Russian market and markets outside Russia, so we saw this immediate legitimate panic and legitimate recession,” Kim explained. “And here we are now is a different time.”
