August 9, 2019 / 9:38 AM / 4 months ago

New U.S. sanctions not significant for Russian Eurobonds -

MOSCOW, Aug 9 (Reuters) - U.S. sanctions that were imposed against Russia in early August caused some selling of OFZ treasury bonds by foreign investors but the market’s reaction was moderate, Russia’s central bank said on Friday.

“The imposed restriction is not significant for the state Eurobond market as Russian banks possess a large bulk of FX liquidity and can buy new issues if the finance ministry decides to tap the Eurobond market,” the central bank said.

Washington has imposed restrictions for U.S. banks on buying sovereign Eurobonds directly from Russia. They do not restrict the buying of Russian Eurobonds on the secondary market and do not apply to other banks. (Reporting by Andrey Ostroukh and Elena Fabrichnaya Editing by Tom Balmforth)

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