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Russia eyes gas-for-roubles template for foreign Eurobond payments

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Reuters UK

(Reuters) -Russia is considering paying Eurobond holders by applying the mechanism it uses to process payments for its gas in roubles, though investors said the move would not enable Russia to avoid a historic default on debt. The scheme, according to the Kremlin and Russia’s finance minister, would allow Moscow to pay bondholders while bypassing Western payment infrastructure. It comes days after Washington decided against extending a license that had permitted U.S. creditors to receive bond payments while enabling Russia to dodge default. That move by the U.S. Treasury pushed Russia a step c…

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