The Finance Ministry of Russia has reminded that past initiatives of the us authorities to impose sanctions against Russian government debt had no development
Photo: Ekaterina Kuzmina / RBC
Due to demand of domestic investors in government borrowing will be able to perform in full, said the Ministry of Finance of Russia, noting that past initiatives of senators to impose sanctions against Russian government debt had “no development”. About it reports “RIA Novosti”.
The plans of the American congressmen to introduce against Russia, the most severe sanctions in the Department are treated carefully. “Such news, of course, very painful for foreign OFZ holders. At the same time, previous initiatives of this kind in respect of Russian government bonds had development”, — quotes Agency the message of the Ministry. The Ministry recalled that the US Treasury in its report to Congress in the winter pointed to the negative effect on American investors in case of introduction of restrictions against Russian government debt.
Swing on the ruble: why the Russian market is believed to sanctions
On the background of news about future sanctions on Russian financial market “once again came under pressure,” but the Ministry agrees with the Bank that the implementation of government borrowing in the planned volumes it is even possible without the active participation of foreigners on the OFZ market.
“According to the latest data, apart from Russian banks, investments in OFZ gradually increasing and pension funds, aided by a deliberate policy of the Bank of Russia to minimize the risk of investment of pension funds”, — said the Ministry of Finance. This trend “promotes the substitution OFZ coming from foreign investors,” said the Agency.
US sanctions prevent UC Rusal to conclude a new contract to 2019
The cause of the collapse of the Russian financial market on 8 August was the publication of the full text of the new bill on sanctions against Russia, which was drafted by senators Robert Menendez and Lindsey Graham. The document, in particular, implies a ban on transactions with Russian state-owned banks in the United States, as well as limiting the possibility of buying OFZs. The ruble against the background of these messages fell to two-year low, investors began to sell securities of state banks and government bonds.