INSUBCONTINENT EXCLUSIVE:
Russia said Thursday it was ready to directly settle any disputes with its creditors after missing payments on its foreign debt due to
Western sanctions over Ukraine.Moscow faces the risk of its first external debt default in more than a century.Punishing Western sanctions
on Russia have largely severed the country from the international financial system, making it difficult for Moscow to service its
debt.Russia's Finance Ministry said in a statement on Thursday it was "ready to consider and, if there are necessary grounds, to
bilaterally settle all complaints regarding the complete fulfilment of debt obligations on the 'Russia-2022' Eurobonds."The statement
provided two email addresses to which complaints should be directed, adding that "all requests will be considered."Some creditors are
requesting "additional interest" for as long as the payments are outstanding, the statement said.The ministry blamed the delay in processing
payments on the "illegal actions of foreign financial intermediaries."Separately, the Finance Ministry said that the London branch of
Citibank, which will no longer be servicing Russia's Eurobonds, had been replaced with the Moscow-based National Settlement Depository.In
late May, Russia said it would start paying its foreign debt in rubles after Washington ended an exemption allowing Moscow to make the
accrued interest on a sovereign bond due on April 4.
