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Russia working on new mechanism to service foreign debt – finance minister

Russia working on new mechanism to service foreign debt - finance minister
© Reuters. FILE PHOTO: Russian Rouble coins are seen in front of displayed U.S. Dollar banknote in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) – Russia will prepare a settlement mechanism before June payouts that will allow it to service its dollar-denominated foreign debt, Finance Minister Anton Siluanov said in a TV interview aired on Friday.

Siluanov also said Moscow expects to receive up to an additional 1 trillion roubles ($15.27 billion) in oil and gas revenues this year, funds from which will be channelled to increased social welfare payments.

($1 = 65.5000 roubles)

Source: Investing.com

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