[5/5] Russian officials likely see external debt issuance as one way to plug gaps in Russia’s finances as they plan for a long war in Ukraine. However, it remains unclear whether Russia will succeed in implementing the measures.
[4/5] In recent months, Russia’s own banks have been the main entities purchasing Russian state debt. However, they are unlikely to have the capacity to fully fund anticipated future budget deficits.
[3/5] Once the development is completed, investors from other countries will be able to purchase Russia’s sovereign debt and therefore finance some of Russia’s future budget shortfalls. Such investors would be indirectly financing Russia’s invasion of Ukraine.
[2/5] The move is almost certainly an indication that Russia anticipates external financial support from foreign states it deems ‘friendly’.
[1/5] On the 28th March 2023, Russian Prime Minister Mikhail Mishustin said that a move to issuing some of Russia’s sovereign debt in foreign currencies was ‘under development’.
Latest Defence Intelligence update on the situation in Ukraine - 5 April 2023. Find out more about Defence Intelligence's use of language: https://t.co/CIS3mejzmb 🇺🇦 #StandWithUkraine 🇺🇦 https://t.co/nf4EsjV7Kb
🇬🇧🇺🇸🇨🇦🇧🇪🇩🇰🇫🇷🇮🇸🇮🇹🇱🇺🇳🇱🇳🇴🇵🇹🇬🇷🇹🇷🇩🇪🇪🇸🇨🇿🇭🇺🇵🇱🇧🇬🇪🇪🇱🇻🇱🇹🇷🇴🇸🇰🇸🇮🇦🇱🇭🇷🇲🇪🇲🇰 🇫🇮 @NATO working for peace, security & freedom for over one billion people. A 31-nation alliance, standing shoulder to shoulder with common values. Together we are stronger. #WeAreNATO https://t.co/QsgDT9IcUb
Supporting 1,700 jobs in Scotland 🏴, Type 26 frigates represent the best of British shipbuilding 🇬🇧🚢 Today, @AlexChalkChelt visited @BAESystemsplc to cut steel on HMS Birmingham - the fourth Type 26 ship being built at the Govan site. 👉 https://t.co/lgj0CQF77D https://t.co/uDEsW5pOpM
🇬🇧🇨🇦🇳🇱🇫🇮🇩🇰🇳🇿🇸🇪🇱🇹🇦🇺🇳🇴 Nine nations have joined the UK-led training programme to teach Ukrainian recruits battlefield skills. As today marks the 74th anniversary since NATO was founded, we thank our allies, NATO and all, for their support. 🇺🇦 #StandWithUkraine 🇺🇦 https://t.co/9cYD3E6Owo
The illegal and unprovoked invasion of Ukraine is continuing. The map below is the latest Defence Intelligence update on the situation in Ukraine – 04 April 2023. Find out more about the UK government's response: https://t.co/C8uBkWxU9e 🇺🇦 #StandWithUkraine 🇺🇦 https://t.co/0yZtwAblG3