Toxic assets: US banks have resumed bidding by Russian bonds - media

The US Ministry of Finance has confirmed the legitimate nature of actions with Russian securities, as it helps customers get rid of illiquid assets. Several major Vhl-Street banks resumed bidding with Russian bonds, offering assistance in debt papers. This gives investors a chance to get rid of the assets that are considered "toxic" in the West, reports Reuters.

The publication writes that after the US Ministry of Finance has forbade US investors to buy any Russian securities within economic sanctions against Moscow, in June, most US and European banks left the market. However, after the following instructions of the Ministry of Finance, in July, the largest Wall Street companies carefully returned to the Russian state and corporate bonds.

According to the document, which included the agency, they included banks: the document also reports the return of the largest companies from the Wall Street, the details of the agreements they propose to facilitate, and the preventive measures they take to avoid violation of sanctions. "For the first time in a long time, proposals appear on both local and external bonds.

Some banks and brokers use this offer to facilitate the sale of Russian positions to investors who want to go out," said Global Credit Opportunes Fund. With regard to the total volume of Russian bonds, the observers noted that before in February Russia started a war in Ukraine, there were papers worth about $ 40 billion in circulation. About half of them belonged to foreign funds.

Now the renewal of trade in some cases will give companies the opportunity to earn a good money, since recently the price of some Russian bonds has jumped. For example, PIMCO, which was to pay about $ 1 billion after the default was declared in Russia in June in June. According to one of the investors, as the price increases, the company can save about $ 300 million.