Interfax: Ministry of Finance proposed to issue “patriotic” bonds
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The Russian Ministry of Finance suggested that the government issue themed or “patriotic” bonds. The initiative was sent to the government at the end of February as part of the Finance Ministry’s plan to develop mechanisms and instruments in the financial market to ensure Russia’s financial sovereignty. This was reported Interfax with reference to a source familiar with the discussion.
According to the agency, “patriotic” bonds will be issued by the government. They will be distributed through banks, financial platforms and other financial institutions.
Now the state can use federal loan bonds for individuals (OFZ-n) to attract money to the country’s budget. As Interfax notes, their volume has always been insignificant against the backdrop of market OFZs. OFZ-n placement suspended in March 2022 after the deterioration of borrowing conditions. In the Ministry of Finance declaredthat they do not plan to resume their release.
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