The Russian Ministry of Finance is ready to settle claims regarding the completeness of debt obligations fulfillment on Russia-2022 Eurobonds, RBC reports citing the press service of the ministry. The Credit Derivatives Committee earlier recognized the non-payment of additional interest of $1.9 million on Russian Eurobonds maturing in 2022.

A number of owners of external bonded loans “Russia-2022” had claims to the Ministry of Finance on payment of additional interest for the period from the established date of maturity of these bonds – April 4, 2022 – to the date of actual transfer of funds to the owners, the ministry said. However, investors received the funds after April 4 because “foreign counterparties performed their functions in bad faith in redeeming the bonds.”

Despite the fact that the delay was caused “solely by the misconduct of foreign financial intermediaries,” a number of investors see the delay as intentional on Russia’s part.

“The Russian Finance Ministry informs that it is ready to consider and, if there are necessary grounds, to settle bilaterally all claims regarding the completeness of the fulfillment of debt obligations under the Russia-2022 Eurobonds,” the ministry said.