Russia's Finance Ministry says it has sent interest payments on its dollar-denominated sovereign bonds for transfer to creditors.

The ministry said on Thursday that it ordered the transfer of about 117 million dollars in coupon payments that were due on Wednesday. A ministry official told NHK that the payments were made in dollars.

Reuters news agency and other Western media quoted market sources as saying some creditors have received payment in dollars.

Russia faces more interest and principal payments, but is thought to have enough reserves to pay its debts.
It remains uncertain whether the country will be able to prevent itself from being designated as having defaulted on external borrowing.
Russia had said it planned to repay debt in rubles as almost half of its foreign reserve holdings remain frozen as part of international sanctions imposed for the invasion of Ukraine.

But the value of the ruble has been tumbling.
Credit ratings agencies may deem payments in the currency as a default, citing the unilateral change in payment terms.