Russian Banks Lack Cash to Buy Government Debt, Sberbank Executive Says
Cash withdrawals of 2 trillion rubles have left banks focused on lending to customers, while analysts warn the deficit could reach 7.5 trillion rubles.
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Sberbank Admits Russian Banks Lack Money to Finance Putin's Budget Deficit
Russian banks lack sufficient ruble liquidity necessary to purchase federal loan bonds, which the Ministry of Finance uses to cover Putin's state budget deficit. The need for bank financing comes after Russia's budget deficit reached 5.7 trillion rubles ($71.8 billion) in the first half of the year, amid higher-than-planned defense spending, according to The Moscow Times on July 31. We bring you stories from the ground. Your support keeps our t…
The Russian state is quickly becoming indebted, and its bonds are not negotiable.
Russian Banks Lack Cash to Buy Government Debt, Sberbank Executive Says
Russian banks have no spare ruble liquidity to buy the government bonds used to finance the federal budget deficit, a senior Sberbank executive said, raising questions about Moscow’s ability to cover rising wartime spending through domestic borrowing.
Foreign investors reduced the share in Russian bonds to 3% - Intelligence Agency in July saw the share of non-residents in Russian OFPs fall to 3%. Intelligence predicts the collapse of the Russian economy due to the absence of foreign capital.
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