On 9 September 2023, Russian President Vladimir Putin signed Decree No. 665 “On the temporary procedure for the performance of state debt obligations of the Russian Federation owed to residents and foreign creditors and expressed in foreign currency-denominated government securities and other obligations under foreign securities”.
Decree 665 abolishes the procedure stipulated in an earlier presidential decree, i.e., No. 394 (which had nearly the same heading and was in force from 22 June 2022) and introduces a new regime for the performance by the Ministry of Finance of debt obligations under sovereign Eurobonds held by Russian and foreign bondholders.
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