LONDON – Sovereign bond coupon payments that Russia was due to make on March 16 have been received by bondholders, in dollars, two market sources told Reuters on Thursday.
Earlier another source told Reuters that JPMorgan, Russia’s correspondent bank, had received the funds from the government and credited to Citi for paying on to bondholders.
It means Russia has for now dodged a sovereign default that could have been caused by sanctions slapped on to punish it for invading Ukraine.
(Reporting by Sujata Rao and Marc Jones)