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Russia working on new mechanism to service foreign debt: Finance Minister

Reuters
29 May 2022 19:25:45 | Update: 29 May 2022 19:26:07
Russia working on new mechanism to service foreign debt: Finance Minister
Russian Rouble banknote is placed on US Dollar banknotes in this illustration taken, February 24, 2022 — Reuters Photo

Russian Finance Minister Anton Siluanov has said that Russia will prepare a settlement mechanism before June payouts that will allow it to service its dollar-denominated foreign debt.

The minister made this comment 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.

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