Tanker

War forces Sovcomflot to replace euro loans with Russian bonds

Western sanctions prevent state-owned Russian tanker operator Sovcomflot from maintaining its debt in euro. The carrier therefore wants to replace Eurobonds with ruble bonds.
Photo: PR-FOTO
Photo: PR-FOTO
by JENS THOMSEN

Russia’s war against Ukraine is now forcing state-controlled Russian tanker operator Sovcomflot to replace Irish Eurobonds for a total of USD 928m with Russian ruble bonds.

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