The Kremlin: Russia has all the resources to repay its debts

The Russian Kremlin said that its country could default on its debt performance in theory, but this would be an artificial situation after the Ministry of Finance decided to make payments on sovereign Eurobonds in Russian rubles.

The Kremlin spokesman said there are no real reasons for default, adding that Russia has all the funds needed to pay its obligations, but will continue to repay the external debt in rubles.

The United States, the European Union, and the Group of Seven are coordinating the imposition of a new package of sanctions against Russia.