March 12, 2020 / 11:16 AM / a month ago

Russian government says it currently sees no need to purchase OFZ bonds

MOSCOW, March 12 (Reuters) - The Russian government could theoretically purchase OFZ treasury bonds, but currently sees no need to do so, First Deputy Prime Minister Andrei Belousov said on Thursday.

The central bank said on Wednesday bondholders had offloaded more than 80 billion roubles ($1.1 billion) in OFZ bonds, after the Finance Ministry said it was suspending its weekly OFZ auctions until the market situation stabilises.

“So far nothing has happened in this regard that would require intervention,” said Belousov. “There’s no mass dumping of OFZ bonds right now.” ($1 = 74.9710 roubles) (Reporting by Darya Korsunskaya; Writing by Alexander Marrow; Editing by Jan Harvey)

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