Russian state firms defy sanctions speculation with bond sales

Two borrowers beat US pressure by tapping into demand with euro and renminbi sales.

For proponents of sanctions on Russia, November got off to a good start. In the first week of the month, two events apparently increased the likelihood of stricter penalties being imposed.

First, the US State Department confirmed that the Kremlin had missed a deadline – set after the attempted assassination of Sergei Skripal in the UK – to respond to concerns about its use of chemical weapons. Then the following day, the US midterm elections delivered a majority for the Democrats in Congress.

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