Peskov on Russia's plans to pay foreign debt

(30 May 2022)
RESTRICTION SUMMARY:
++PLEASE NOTE: AP IS OPERATING IN RUSSIA ACCORDING TO NEW RUSSIAN RESTRICTIONS ON ALL REPORTING RELATED TO THE ONGOING MILITARY OPERATION IN UKRAINE++
ASSOCIATED PRESS
ARCHIVE: Moscow, Russia - 23 December 2021
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1. STILL of Russian Presidential spokesman Dmitry Peskov ++OVERLAID WITH AUDIO IN FOLLOWING SHOTS++
ASSOCIATED PRESS
Moscow, Russia - 30 May 2022
2. SOUNDBITE (Russian) Dmitry Peskov, Russian Presidential Spokesman:
"In general, the practice of payments for gas has proven to be convenient for both the seller and the buyers, so why not to use it in the opposite form."
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3. SOUNDBITE (Russian) Dmitry Peskov, Russian Presidential Spokesman:
"There can be no objective reasons for a default, there is money and there is a willingness to pay it, either in rubles or under a scheme that may be more convenient for paper holders."
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4. SOUNDBITE (Russian) Dmitry Peskov, Russian Presidential spokesman:
"The facts of attacks on civilian infrastructure, on children's institutions, this, of course, is outrageous. This is exactly what our soldiers are fighting for, to prevent this from happening, and this is, this protection of people from neo-Nazis who do this, that is the main goal pursued by the special military operation."
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STORYLINE:
Russia said Monday it may use an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts.
Kremlin spokesman Dmitry Peskov made remarks on Monday about Russia's plans to pay its foreign debts.
The Vedomosti business daily quoted Finance Minister Anton Siluanov as saying that Russia will offer the holders of its Eurobond obligations to accept a payment system bypassing Western financial infrastructure.
Russia previously has offered the customers receiving its natural gas to establish an account in dollars or euros at Russia's third-largest bank, Gazprombank, then a second account in rubles.
The importer would pay the gas bill in euros or dollars and direct the bank to exchange the money for rubles.
The system was established on Russian President Vladimir Putin’s order and aims to avoid a risk of payments for gas being frozen as part of Western sanctions against Russia.
Siluanov told Vedomosti that a mechanism similar to that will be set for Eurobond holders, who will be offered to open foreign currency and ruble accounts at a Russian bank.
Asked about Siluanov's comments, Kremlin spokesman Peskov told reporters that "the practice of payments for gas has proven to be convenient for both the seller and the buyers, so why not to use it in the opposite form."
It's not clear whether the Russian offer will be accepted by Eurobond holders, allowing Russia to avoid a default.
Russia has not defaulted on its international debts since the 1917 Bolshevik Revolution, when the Russian Empire collapsed and the Soviet Union was created.
Russia defaulted on its domestic debts in the late 1990s during the Asian financial crisis, but was able to recover from that default with the help of international aid.
Peskov also commented Monday's shelling of the city of Donetsk where civilians are said to have been killed, saying that the attacks are "outrageous" and that preventing this is the goal of the special military operation in Ukraine.
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