13.09.2023

New payment procedure for Russian Eurobonds

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.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_New_payment_procedure_for_Russian_Eurobonds_September_ENG.pdf

You might be interested

  • Introduction of temporary administration over  Russian businesses – new developments
    Introduction of temporary administration over Russian businesses – new developments

    Further to the introduction of temporary administration over the Russian businesses of Auchan, Nestlé, FM Logistic, Lemana PRO (formerly Leroy Merlin) and Metro AG in September 2026, on 15 October 2026 the Russian President introduced, by Decree No. 738, temporary administration over the Russian assets of the floor covering manufacturer Tarkett (France), the producer of care products Ontex (Belgium) and the packaging businesses in Russia of Georg MENSHEN GmbH & Co. KG (Germany), Sonoco Packaging Netherlands Investments B.V. (the Netherlands) and Sverige International Holdings AB (Sweden).

    16.10.2026