The Russian Ministry of Finance announced on Wednesday that it will issue sovereign bonds denominated in Chinese yuan in December, marking a significant step in Moscow’s ongoing efforts to deepen financial cooperation with Beijing and diversify away from Western currencies.
According to the ministry’s statement, the yuan bonds will carry a maturity period of three to seven years with a coupon payment every 182 days. Each bond will have a par value of 10,000 yuan, and investors will be able to buy and sell the securities either in yuan or in Russian rubles.
The book-building process for the issuance is scheduled to begin on December 2, followed by the technical placement on December 8.
This move reflects Russia’s strategic pivot toward strengthening its financial and trade ties with China amid ongoing Western sanctions. By introducing yuan-denominated bonds, Moscow aims to provide investors with a broader range of instruments linked to the Chinese currency, which has gained prominence in Russia’s trade settlements and foreign reserves since 2022.
