Russia may transfer debts of other countries to non-sanctioned persons

The government of Russia in 2023 may acquire the right to assign the right to claim external debt claims to foreign states and legal entities, follows from the draft budget. Debts can go to structures that operate in debtor countries and that are not subject to sanctions.

The government expects that the assignment of claims will make it possible to ensure that the federal budget receives the debt of foreign states to Russia. As transmits RBCthe mechanism assumes that when bilateral debts are sold, they will have to be settled in currencies for which there is no risk of blocking due to sanctions.

In March, it was expected that the 2022 budget would receive 138.5 billion rubles from foreign borrowers. More up-to-date data has not been published. It is planned that in 2022 the budget will receive 9.7 billion rubles. interest on state loans provided to foreign states and legal entities, which is five times less than in 2021 (52.1 billion rubles). RUB 40.3 billion is expected in 2023. such receipts.

The European Union, the United States and a number of other countries have previously banned transactions with the Russian Central Bank, the Ministry of Finance and the National Welfare Fund. The sanctions were adopted in response to Russia’s entry of troops into Ukraine.

About the draft budget – in the material “Kommersant” “Painted – to believe”.

Leonid Uvarchev