The document applies to residents and foreign creditors. It states that, in order to fulfill its obligations, Russia can send to the Russian central depository a request to open a type “I” ruble account in the name of a foreign depositary. This does not require the presence of a representative of the depositary. In addition, such an account can be opened in the name of several foreign depositories. The beneficiaries thereof may be the owners of Eurobonds and other persons determined by the Ministry of Finance and the Central Bank.
Funds credited to such an account before September 15 are indexed to the exchange rate on the domestic foreign exchange market of Russia for the transfer of payments to Eurobond holders before November 23. The procedure for this indexation must be established by the Ministry of Finance in agreement with the Central Bank.
