Russia may place $3 bln in Eurobonds in spring

Russia may place $3 bln in Eurobonds in spring

Russia may place $3 billion worth of Eurobonds this spring in a single issue, Finance Minister Anton Siluanov told reporters on Wednesday, Reuters reported.

Siluanov said the government had decided not to use additional oil revenues, resulting from the rise in oil prices, on budget spending. He said that decision had been supported by President Vladimir Putin.

If oil prices stay at their current level, the government may be able to avoid spending money from its reserve funds in 2017, Siluanov said.

The decision to not channel additional oil revenues into budget spending would give the central bank more room to cut interest rates and to ensure stability of the rouble currency, Siluanov told reporters.

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