Russia’s Dollar Bonds Can’t Escape Blow of EU, U.S. Sanctions
- Yields on 2047 debt jump to highest since at least 2017
- EU to ban sale of ‘transferable securities’ issued by Russia
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Russian bonds are finding it hard to escape the blow of sanctions from the U.S. and Europe, even as the country has taken steps in recent years to shield its economy from international punitive measures.
Yields on the nation’s $7 billion dollar debt due in 2047 topped 6%, set for its highest close since it was first issued in 2017. That comes as the EU is set to prohibit the purchase or sale of “transferable securities and money-market instruments issued” by Russia, according to draft documents seen by Bloomberg. Russian stock markets were shut for a holiday.