The Treasury disclosed a strategy to counter US sanctions against public debt US expanded sanctions

The Russian Ministry of Finance has announced the measures it will take in connection with the introduction of US sanctions against Russian government debt.

“In order to help strengthen stability in the Russian debt market, decisions on the need to hold OFZ auctions in the coming weeks will be made taking into account market conditions. At the same time, a significant amount of temporarily free funds in the single treasury account (more than 4.5 trillion rubles with a net borrowing of 2.2 trillion rubles planned in 2022) allows for a flexible approach to the placement schedule, ”the ministry said in a statement.

The Ministry of Finance noted that the resumption of OFZ placement "as the volatility of financial markets decreases" may be accompanied by "an increase in the share of instruments with a lower level of interest rate risk."

“In order to reduce the risk of forced sales of tradable government securities by certain categories of foreign investors, the placement of government bonds after February 22, 2022 will be carried out by issuing new issues of securities with the termination of additional placements of OFZs, issues of which were registered earlier than the specified date,” the statement says. Ministry of Finance.