No signs of Russia payment; confusion starts countdown to bond deadline

Russia says it has fulfilled order to pay $117 million in Eurobond interest, but bondholders in Europe say they have received no sign of the funds

Russia’s Finance Ministry said that it has paid the interest on its dollar bonds to its correspondent bank, giving incremental details on a payment that has come to exemplify how the nation plans to handle its future relations with creditors. 

In an emailed statement on Thursday, the finance ministry said it had sent the order for a $117 million coupon payment on March 14 to a correspondent bank that it didn’t identify, adding that it would issue a separate comment if the paying agent, Citibank’s London branch, has received the payment. The bank didn’t immediately respond to requests for comment.

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