Funds begin parking sanction-hit Russian assets in ‘side pockets’
Some of the world’s biggest money managers are talking to investors and regulators about stripping Russian assets from their funds, helping them unlock billions of dollars of investments which became illiquid due to the war in Ukraine.
Explainer: Washington holds key to Russia’s sovereign default
The prospect of a Russia sovereign default is moving centre stage again with a deadline for a U.S. license allowing Moscow to make payments expiring on May 25 and $100 million in interest payments due shortly after.
Explainer: Russia swerves to avoid default: what is next?
Russia may have averted default as it announced it had made several overdue payments in dollars on its overseas bonds, shifting the market’s focus to upcoming payments and whether it would stave off a historic default.
Russia launches Eurobond rouble buyback offer on looming $2 bln bond payment
Russia has offered to buy back dollar bonds maturing next week in roubles in a move seen by analysts as helping local holders of the $2 billion sovereign issue receive payment, while also easing the country’s hard-currency repayment burden.
Explainer: Can Russia pay its creditors, and what happens if not?
Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday – the first such payments since its invasion of Ukraine which sparked a raft of sanctions from Western capitals and countermeasures from Moscow.
