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21:14 GMT +3 hours19 December 2014
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Finance Ministry

Russia excludes Ireland, Spain from sovereign wealth fund investment list - FinMin

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Russia has excluded debt-saddled Ireland and Spain from the list of countries whose securities can be used as investment targets for Russia's sovereign wealth funds, the Finance Ministry said on Wednesday.

Russia has excluded debt-saddled Ireland and Spain from the list of countries whose securities can be used as investment targets for Russia's sovereign wealth funds, the Finance Ministry said on Wednesday.

The Finance Ministry, which posted the respective orders on its website on Wednesday, said it had shortened the list of sovereign wealth fund investment "to reduce risks in the process of the funds' management."

Russia is allowed to make investment from the Reserve Fund, set up to cushion the federal budget against a fall in oil prices, and the National Welfare Fund, established to support the country's pension system, into sovereign bonds issued by Austria, Belgium, Great Britain, Germany, Denmark, Canada, Luxembourg, the Netherlands, the United States, Finland, France and Sweden.

MOSCOW, November 3 (RIA Novosti)