Russia to issue yuan-denominated sovereign bonds worth $5B in December

Russia is set to issue its debut yuan-denominated sovereign bonds in December, according to sources cited by Reuters. The bonds will target up to 400 billion rubles, equivalent to approximately $5 billion, with maturities ranging from 3 to 10 years.

This move is aimed at leveraging the increasing liquidity of the yuan resulting from Russia"s energy exports to China. The issuance marks a significant step in Russia"s financial strategy as it seeks to diversify its funding sources amid ongoing economic challenges.

For more information on related developments, see recent developments in the economy.