Page 95 - RusRPTFeb24

Companies continue to replace eurobonds with local securities denominated in US dollars and other "toxic" currencies but settled in rubles. An estimated 218bn rubles in ruble equivalent were replaced in December, and a total of approximately 1.2 trillion rubles in ruble equivalent were replaced in 2023 (banks held 0.4 trillion rubles of replacing bonds on their balance sheets as of January 1, 2024).
95 RUSSIA Country Report February 2024 www.intellinews.com