After several years of rumours and speculation, Russia’s long nurtured plans to issue renminbi government bonds will come to fruition in this year or in early 2020. The country will not borrow in dollars, but may borrow in euros and yuan, writes Lewis McLellan.
According to local press reports, Russian finance minister Anton Siluanov said that Russia will not borrow in the dollar market, but will restrict its external borrowing to euros and possibly renminbi.
Russia has never issued in renminbi before. It made its debut in the euro market in November