Russia to Sell Debut Yuan Bonds as War-Driven Deficit Widens

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The Russian government will issue its first yuan-denominated bonds next month, the country’s finance ministry said on Wednesday. The bonds will be issued in two series of OFZ bonds, each with a face value of 10,000 yuan ($1,400). The bonds will have a term of three to seven years and interest will be paid semi-annually. Investors will be able to purchase the bonds in yuan and rubles, the ministry said. Orders for the bonds will open on December …

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Russian government securities are planned for the first time to be nominated in Chinese Yuan, as reported by the Russian Ministry of Finance, and analysts expect high demand for Yuan bonds from Russian exporters, including large energy companies, by Reuters.