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Russia Selling Eurobond in Show of Defiance Amid U.K. Reprisals

  • Government offers ~30bps premium to sovereign yield curve
  • Bonds, ruble slip as U.S. sanctions Russian individuals
Updated on

Russia is snubbing international condemnation over the poisoning of a former spy on British soil and pushing ahead with a Eurobond sale even as a diplomatic spat escalates.

The announcement of a benchmark dollar-bond placement comes less than 24 hours after U.K. Prime Minister Theresa May unveiled measures including the expulsion of 23 diplomats. Bonds and the ruble slid after France and Germany called for Russia to explain itself in connection with the attack, and the U.S. sanctioned individuals over alleged meddling in the 2016 presidential election.