06:18 GMT21 October 2020
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    MOSCOW (Sputnik) - The Russian Finance Ministry hopes to place federal loan bonds in the Chinese yuan next year, Konstantin Vyshkovsky, the head of the ministry's Department of National Debt and State-Owned Financial Assets, has stated.

    "Speaking about federal loan bonds in yuan, we hope that this project will finally launch next year," Vyshkovsky said during a video conference that was part of the 2-day Russian Bond Congress, which started in St. Petersburg earlier in the day.

    Russia has never placed Eurobonds in yuan before, but the Russian Finance Ministry has repeatedly announced its plans to place such bonds in an amount the $1 billion for redemption by investors.

    READ MORE: De-Dollarization: Russia Has Found Yet Another Alternative to the Greenback

    The statement comes after the Russian Finance Ministry announced in late November that it had placed seven-year Eurobonds in the amount of 1 billion euros ($1.13 billion) with a yield guidance of 3 percent.

    Earlier in March, Russian Deputy Finance Minister Sergei Strochak said that the Russian Finance Ministry planned to test placing bonds in the euro and yuan, but the ministry has only managed to test with euros so far.


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