Russia is considering issuing international bonds in a currency other than the dollar in 2020
Economy News - Baghdad
Russian Finance Minister Anton Silwanov said that Russia may issue international bonds in 2020 that will be denominated in a currency other than the US dollar.
"Russia sees the possibility of borrowing from foreign markets in 2020 in a different currency from the dollar," Silvanov told reporters.
And after its success in international issuance of dollar-denominated bonds in 2019, Russia needs to rethink its foreign borrowing plans after another round of sanctions the United States imposed on Moscow.
In August, the United States banned US banks from purchasing sovereign international bonds directly from Russia to punish Moscow for poisoning former Russian spy Sergey Skripal and his daughter in Britain. Moscow has denied any wrongdoing.
Konstantin Vishkovsky, head of the state debt department of the Russian Finance Ministry, told Reuters earlier this year that the sanctions, which took effect on August 26, would not nullify the ministry's plan to borrow from abroad.
He added that Russia is likely to keep its foreign borrowing plan for 2020 at $ 3 billion, which is the same level of borrowing in 2019.