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Russia to return to debt markets in September: deputy finance minister

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MOSCOW — The Russian government plans to return to the debt market in September, Deputy Finance Minister Timur Maksimov said on Thursday.

Speaking at a Moscow financial forum, Maksimov said that the finance ministry will resume borrowing OFZ bonds in September, and will test the market at various volumes, which in the first stage will be low.

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Russia suspended borrowing via OFZ bonds, which it uses to plug budget holes, in February, weeks before it started what it calls a “special military operation” in Ukraine, which triggered unprecedented Western sanctions against Moscow.

The finance ministry had “big plans” for borrowing in 2023, Maksimov said in July. (Reporting by Reuters)



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