Redemption of Russian Eurobonds for rubles will eliminate discrimination of holders from Russia in settlements - Siluanov

MOSCOW. March 30 (Interfax) - Redemption of sovereign Russian Eurobonds for rubles will allow eliminating discrimination of Russian holders in settlements, which occurs when making payments coming through international depositories, Finance Minister Anton Siluanov, Minister of Finance of the Russian Federation.

On the previous day, the Finance Ministry proposed that investors present for redemption sovereign dollar-denominated Eurobonds maturing in April 2022 for rubles at the Central Bank exchange rate on March 31.

This is due to the fact that money received in Euroclear successfully reaches foreign holders, while settlements bringing payments to Russian residents are suspended, the minister said.

"Therefore, in this case, we offered to settle with our residents directly in rubles, so as not to discriminate against our bond holders, and we offered the possibility of redeeming our liabilities from Russian residents," Siluanov said.

"This will take place in rubles, there will be no restrictions on settlements. Therefore, in our opinion, this is absolutely fair in terms of fulfilling the obligations of the state to the holders of our securities," the minister said.