Russia will take legal action if the West tries to force it to default on its sovereign debt, Finance Minister Anton Siluanov told the pro-Kremlin Izvestia newspaper on Monday, sharpening Moscow's tone in its financial wrestle with the West.
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"Of course we will sue, because we have taken all the necessary steps to ensure that investors receive their payments," Siluanov said "We will present in court our bills confirming our efforts to pay both in foreign currency and in roubles. It will not be an easy process. We will have to very actively prove our case, despite all the difficulties."
Russia faces its first sovereign external default in more than a century after it made arrangements to make an international bond repayment in roubles earlier this week, even though the payment was due in US dollars.
