At a press conference, the senior official explained that when those countries decided to confiscate the frozen reserves, Russia’s Ministry of Finance expressed its willignness to purchase the amount of the blocked accounts of the Bank of Russia to pay investors with them, but “they told us no.”

He clairified that if now they intend to block other Russian assets abroad and confiscate them, Russia will not have other commercial ones, just its official assets that have diplomatic immunity.

Siluanov stressed that confiscation of those assets would prompt them to break off diplomatic relations and a direct conflict will succeed. Moscow would have to respond leaving the legal field if this happens, TASS news agency reported.

Replying another question, the minister of Finance said that the fact that his country stops paying eurobonds in hard currency and starts paying in roubles does not mean that it will file for bankruptcy regarding its foreign debt.

He said that Russia is not refusing to abide by its commitments in terms of public values and as a responsible borrower, it is doing everything it can so that all investors fully receive the funds.

He underscored that all foreign counterparts are refusing to pay in the currency of other countries, which is a force of major circumstance for them. And only for this reason they are paying in roubles.

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