The U.S., the European Union and some other Group of Seven partners want the European Bank for Reconstruction and Development to examine its role in Russia as it faces further sanctions.
A stronger ruble is inevitable and won’t prompt the Russian government to impose capital controls, Deputy Finance Minister Dmitry Pankin said.
Russia may sell its first bonds denominated in euros next year as the government seeks to set a “benchmark” to help domestic companies borrow in the common European currency, Deputy Finance Minister Dmitry Pankin said.
The Russian private equity fund that President Dmitry Medvedev is creating may get World Bank guarantees to lure foreign investors and expertise, Deputy Finance Minister Dmitry Pankin said.
Russia will step up sales of domestic debt and may offer its first ruble-denominated Eurobonds after falling behind its plan for raising 1.2 trillion rubles ($38.9 billion) this year.
Russia will be “technically ready” to sell its first ruble-denominated Eurobond in November as it borrows less than planned on the domestic market, Deputy Finance Minister Dmitry Pankin said.
Foreign investors will be able to use nominee accounts with Russia’s Central Depositary from March 30, said Dmitry Pankin, head of Russia’s financial market service.
Russia’s plan to lure international investors to ruble securities through its first overseas sale of local-currency debt may reduce borrowing costs as bondholders snap up emerging-market securities.
"The geographical distribution of the EBRD's business volume should continue to be as depoliticized as possible."
- Dmitry Pankin on May 15, 2014