Russia has announced that it will no longer issue government bonds for the time being.
(Photo: AP)
Moscow, Frankfurt In view of the economic sanctions imposed due to the war in Ukraine, the Russian state no longer intends to issue government bonds for the time being. In an interview with the daily newspaper “Isvestia” published on Monday night, the Russian Economics Minister Anton Siluanov announced that no bonds will be placed in the further course of the year.
According to the minister’s assessment, the income from the sale of oil and gas, among other things, is sufficient to cover the state’s current expenditure.
The minister referred to the high costs that would be associated with further borrowing for the Russian state. Such a measure makes no sense, because the costs “would be astronomical”. With this, Siluanov was probably referring to the high interest rates that the Russian state is currently having to offer.
In addition, Russia is cut off from a large part of the financial world due to Western sanctions, which severely limited the circle of buyers.
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