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Russia revives Yuan Debt Push as Budget Gap Widens and Demand Lags
Russia's Finance Ministry is preparing to issue a new tranche of yuan-denominated government bonds to help plug a widening budget deficit that reached nearly 6 trillion rubles ($84 billion) in the first four months of the year, underscoring Moscow's growing reliance on debt financing and Chinese currency instruments as Western sanctions continue to constrain its options. The ministry announced Thursday that it would begin collecting investor orders for the new yuan-denominated OFZ sovereign bonds, one day after President Vladimir Putin returned from a visit to Beijing. [...]