Russia Avoids Dipping Into Sovereign Fund to Support Stocks
- Government had earlier said wealth fund may prop up stocks
- Russian local stocks trading resumed this week with limits
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Russia has so far refrained from using its sovereign wealth fund to prop up the nation’s equities in limited trading that resumed this week after a record long shutdown, according to two people familiar with the matter.
Earlier this month, the government announced that as much as $10 billion from the National Wellbeing Fund may be spent to buy battered local stocks after sweeping international sanctions over President Vladimir Putin’s decision to invade Ukraine shuttered the nation’s markets.