[/ATTACH][BR] Russia's Finance Ministry said on Monday it has approved a temporary procedure for repaying foreign currency debt, but warned that payments would be made in rubles if sanctions prevent banks from repaying their debts in the currency they were issued in.
As Reuters reports, Western sanctions following the events in Ukraine have cut Russia off from significant parts of global financial markets, sparking the country's worst economic crisis since the fall of the Soviet Union in 1991.
"Claims that Russia cannot repay its obligations on its national debt are untrue," Finance Minister Anton Siluanov said in a statement.
(CNA)
CNA - Reuters
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