Russia is able to pay its foreign debts, Governor of the Bank of Russia Elvira Nabiullina said at a press conference on Friday.
“From the point of view of financial resources, we have the possibility and the ability. We also have the desire to pay, and the Finance Ministry has shown all options. Typically, problems with paying sovereign obligations are caused by budgetary issues. We don’t have such issues. Once again, we have all of the resources we need to pay off our debts,” she said.
According to Nabiullina, Russia’s issues stem from technical challenges in repaying sovereign debt in foreign currency, as well as restrictions on international banking operations. She stressed that the state’s obligations to Russian citizens and Russian residents who purchased federal loan bonds are unaffected by this situation.
In the meantime, Russian currency that stood at R177 – 1$ before the Ukrainian military operations and United States-led Western sanctions against Russia started in February 14, 2022 has continued to appreciate against the US dollar.
The DEFENDER reports that as at Saturday June 11, the Ruble-Dollar exchange opened with Ruble57-1$.
This, it was gathered, has made the unprecedented sanctions, with which the United State President Joe Biden intended to punish President Vladimir Putin and his country, turned a boomerang against the West with inflation continuing to rise in US, UK and across Europe daily.
