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RF Conducts The Largest Issue Of Debt Obligations To Finance War - British Intelligence

RF Conducts The Largest Issue Of Debt Obligations To Finance War - British Intelligence

Russia, war, Ukraine, rf, Russian aggression, war with Russia, Russia's war against Ukraine, British intelligence, debt obligations, Russian economy, state budget of Russia
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On November 16, Russia carried out the largest issue of debt obligations in history in one day, attracting RUB 820 billion (USD 13.6 billion). This is stated in the text of the next issue of the intelligence review from the Ministry of Defense of the United Kingdom.

"This is important for Russia, as debt issuance is a key mechanism for supporting defense spending, which has increased significantly since the invasion of Ukraine," the document says.

As noted, Russia's declared spending on "national defense" for 2023 is planned at approximately RUB 5 trillion (USD 84 billion), which is more than 40% more than the previous 2023 budget announced in 2021.

At the same time, as the British Ministry of Defense notes, issuing debt obligations is expensive in periods of uncertainty.

"The size of this auction is highly likely to indicate that the Russian Ministry of Finance perceives current conditions as relatively favorable, but expects increasing uncertainty in the fiscal environment over the coming year," the review said.



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