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Siluanov Warns Legal Action Would Follow Any Default Claim

RUSSIA
  • A press conference is due today between Russia’s Putin and Belarus’ Lukashenko, following on from the first face-to-face meeting with a European leader on Monday. Nehammer said yesterday that he was “rather pessimistic” on peace talks following his meeting with Putin, in which the Austrian leader is said to have signalled European unity on the issue.
  • Elsewhere, the politician and Chairman of Russia’s Accounts Committee Alexei Kudrin is to appear in front of the Federation Council’s budget committee, according to a report in RIA Novosti.
  • Late yesterday, the Credit Derivatives Determinations Committee was canvassed for their view on whether Russia have formally defaulted on debt payments. This marks the first step in a possibly lengthy process that could lead to payouts on CDS contracts that insure against possible Russian default. Izvestia cited finance minister Siluanov in saying that Russia would take immediate legal action, if Russia are classified as having defaulted.

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