The history of the Russian Eurobonds has received new turn.
Who has forgotten the background, let me remind you. Russia, which because of the sanctions lost their access to credit from Western banks decided to attract foreign currency from abroad by issuing Eurobonds of the Russian state.
Were sent out proposals for their purchase of 20 leading global investment banks and organizations. At the same time the Minister of economic development of the Russian Federation Siluanov made the statement that these Russian Eurobonds have extremely high demand.
However, Western companies initially were reluctant to agree to the purchase, and then began one after another to withdraw, the Russian version of events “because of the pressure on banks from the United States”.
And so last Thursday, insiders at the Russian government had informed agentstvami that Russia refuses Eurobonds. But not because they did not find the demand (demand in time, according to Russia, very high), and to “punish” Western investors who succumbed to the US pressure. In the end, Western investors lost the opportunity to make a very profitable investment in a very reliable Russian Eurobonds.
And the next day the Deputy Finance Minister Storchak made a statement that Russia has no need to attract investments from abroad, as it has its own wonderful reserve Fund from where it is possible to draw money.
“The budget deficit is closed by the Reserve Fund and domestic borrowing. First Reserve Fund, then borrowing. … Them, thank God, so far enough, we rely primarily on Reserve Fund,” – said Storchak.
