Russia calls off bond auctions – lack of bids “at acceptable levels”

Moscow The Russian Ministry of Finance has canceled the auction of government bonds. There was a lack of bids at an “acceptable” level, it was said on Wednesday to justify it. Originally, a government bond that runs until 2029 and another one that runs until 2036 were to be sold. They should flush around 30 billion rubles (almost 500 million euros) into the state coffers.

Last week, the Ministry of Finance tapped the domestic bond market to borrow fresh money for the first time since the attack on Ukraine in February 2022. Because of the Western sanctions, Moscow is excluded from the international bond markets until further notice.