Russia to limit offering of OFZ treasury bonds on Wednesday

MOSCOW: Russia's Finance Ministry said on Tuesday it will auction two series of OFZ treasury bonds on Wednesday, setting the overall amount on offer at 25.3 billion roubles ($394.62 million).

The ministry will offer rouble-denominated OFZ bonds maturing in March 2039 in the amount of up to 20 billion roubles and bonds maturing in February 2028 for up to 5.3 billion roubles, it said.

Demand for OFZ bonds, which are auctioned weekly by the ministry, serves as a gauge of global market sentiment toward Russian assets. It has soared this year after months of uncertainty surrounding possible new U.S. sanctions on holdings of Russian debt.