Russia asks for money in the West

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Russia sent bids to 25 foreign banks for the placement of government bonds in 2016. This is stated in a statement of the Ministry of Finance, which was published on Friday, February 5.

The list mainly includes the largest banks of the US, Europe and China: Barclays, BNP Paribas, Bank of America Merrill Lynch, Bank of China, Wells Fargo, Goldman Sachs, JP Morgan, Deutsche Bank, Industrial and Commercial Bank of China, Crédit Agricole, Credit Suisse, Landesbank Baden-Wuerttemberg, Morgan Stanley, Mizuho Financial, Nomura, Citigroup, Societe Generale, Scotiabank, TD Securities, China Construction Bank, Agricultural Bank of China, HSBC, RBC Capital Markets, UBS, UniCredit.

In addition, the list includes three Russian bank: VTB (potential placement will be done by VTB Capital), Gazprombank, and Sberbank (Sberbank CIB).

Last time Russia placed government bonds in September 2013, when Russia was not blocked from the access to the capital markets in the West. Formally, Western sanctions do not apply to government borrowing.

Earlier it was reported that the head of the Accounting Chamber Tatyana Golikova said that she opposes the increase of Russian state debt.

Source: Gazeta.Ru