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Russia not planning to buy Spanish bonds

Russia not planning to buy Spanish bonds
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Russia’s Finance Minister Alexei Kudrin has said Moscow is not yet ready to resume buying Spanish government bonds.

He was responding to a Spanish newspaper report quoting Deputy Prime Minister Alexander Zhukov as saying Russia could revise this decision.

Kudrin said Spain’s bonds are still too risky an investment, but that Russia could be interested in investing in bonds from the euro zone’s European Financial Stability Facility rescue fund, whose first sale is expected next week.

That would be part of Moscow willingness to further support the euro zone’s efforts to see off its debt crisis.

Russia’s Finance Ministry last November cut Spain and Ireland from the list of countries into which it can invest its oil wealth funds after sovereign ratings cuts.

On the EFSF bonds, Kudrin said: “We anticipate that they will be quite attractive and may well have a status which would interest us. We could well be interested once we know more details.”