The source of dollar payments on Russia's external public debt, made by the Ministry of Finance in March, despite the sanctions , was the frozen foreign exchange reserves of the Bank of RUSSIA, a source close to the ministry told RBC and confirmed by a federal official familiar with the payment scheme.
When paying investors, the funds are "written off from our frozen foreign exchange reserves," RBC's source said.
RBC failed to get a response from the US Treasury , which in early March, with reservations, allowed investors to receive debt payments from Russia.
“Payments were made from the federal budget using the accounts of the Bank of Russia,” the press service of the Russian Ministry of Finance told RBC. RBC sent a request to the Central Bank.