(Reuters) –Russian finance minister has issued coupons for seven OFZ treasury bonds, worth $50.2 billion ($616m), according to data from its website.

They are being made at the same time that the finance ministry will make a $447million coupon payment on Thursday for a Eurobond worth $17 billion, which matures in 2030.

After Western sanctions that were imposed on Russia to isolate it economically, investors are closely watching Moscow’s debt servicing.

Clearstream and Euroclear, European clearinghouses, have been forced to restrict their Russian client business due to the sanctions. The sanctions have cut foreign OFZ investors off their rouble bond portfolios, and also prevented local sovereign Eurobond owners from earning interest in hard currency.

A Russian clearinghouse, the National Settlement Depository (NSD), stated this month, citing an order by the central bank, that foreign OFZ bondholders were barred until further notice.

NSD processes OFZ interest payments for the finance ministry. Reuters did not receive a response immediately to Reuters’ request for details about which investors were paid the coupon payouts.

The government uses OFZs to fund some of its budget requirements. They were highly sought-after by foreign investors because of their attractive yields and Russia’s economic fundamentals.

From 19.1% in January 2012, 17.8% of OFZ holders were foreign investors. This is the lowest share since 2012.

Russia offers to repay the part of its $2 billion Eurobond maturing on April 4 in Rubels. This will ensure that local investors receive payments.

Sources have confirmed that the investors who declined to accept the rouble offer will be paid in U.S. dollar on April 4, when they are due for repayment.

($1 = 81.5000 roubles)