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    Russia ready to invest in European Rescue Fund bonds - Kudrin

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    Russia is ready to invest in bonds issued by the European Financial Stability Facility (EFSF) and allocate additional resources for the International Monetary Fund to help struggling eurozone countries stem their sovereign debt crises, Finance Minister Alexei Kudrin told Russia Today international news TV channel on Monday.

    Russia is ready to invest in bonds issued by the European Financial Stability Facility (EFSF) and allocate additional resources for the International Monetary Fund to help struggling eurozone countries stem their sovereign debt crises, Finance Minister Alexei Kudrin told Russia Today international news TV channel on Monday.

    "Our reserves are slowly growing. We are buying something in addition all the time. But in this case we are not going to buy bonds of risky countries, mostly we are going to invest in the bonds of the European Union, the European Financial Stability Facility," Kudrin said.

    "Therefore our money could come in support - through the guarantees for the eurozone. And in this case we are not taking the risk on the 'bad' countries, because we invest in the eurozone countries as a whole. Basically, it is an enlargement of our investment instruments, and it is quite secure," he said.

    The European Union formed the EFSF in May 2010 to provide support for economically weak members such as Ireland and Greece. The fund now amounts to 750 billion euros, including 440 billion euros under EU states' guarantees.

    The EFSF planned to float bonds worth 16 billion euros this year. Fitch Ratings agency has assigned an AAA rating to the fund's bond program.

    Russian Deputy Finance Minister Sergei Storchak said on Friday that Russia was ready to invest money from its Reserve Fund and National Wealth Fund in European Financial Stability Facility (EFSF) bonds.

    "We are also ready to provide additional resources for the IMF and through the IMF, help in supporting those countries. So we can provide resources through the multilateral instruments, the IMF or the European Financial Stability Facility, it is profitable for us, it is the investment of our finances," Kudrin told RT.

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