The President of Russia Vladimir Putin instructed to define the parameters and terms of issue of bonds of the Russian government debt (OFZ) in the currency, which will target domestic investors, preserving the capital abroad, writes «Interfax».
The President noted that he instructed to establish mechanisms for the return of capital under Russian jurisdiction, a tool which will be BFL.
According to him, the government and the Central Bank has already discussed this issue and securities should start to place in 2018.
Putin added that the departments this suggestion has met with no objection.
«Moskovsky Komsomolets» notes that the interest on foreign currency OFZ bonds will be higher than the existing in Russia payments on the bonds and redeem them would cost the country «a decent amount».
The initiative for the sale of Russian investors OFZ were made by the businessmen who keep their savings abroad, which can be arrested in the beginning of 2018 due to the us sanctions.
According to various estimates, due to the adopted in 2014 the law on the deoffshorization of the Russian Federation left about a third of the 500 richest Russians, which brought more than $200 billion, the Finance Ministry wants to return these funds to the economy. The business will likely offer more favorable interest rates and may provide special tax conditions.
Under the current conditions of borrowing, each invested $1 billion will bring the oligarchs profit of $45 million, higher than on deposits in currency of the Russian or foreign banks.
«To cut off the smaller players, the state may have a high nominal bonds, for example, a $10 million», – said a senior analyst «Alpari» the novel Tkachuk.
Doctor of Economics Igor Nikolaev noted that the currency OFZ bonds not advantageous to the state, as it will increase the national debt and lead to a decline in investment attractiveness of the country. The expert added that the government is in debt to businessmen.
«The sanctions are caused by political differences, do not allow entrepreneurs to raise loans from abroad. It is logical that the return of the return of capital they are asking for the best tools for attachments. In fact, in addition to the return of capital, the oligarchs have also confirmed their loyalty to the government ahead of presidential elections», – he added.
In March 2014 Russia annexed the Ukrainian Peninsula of Crimea, and in April the beginning of the armed conflict in the Donbass. Against Russia was imposed economic sanctions by the United States, the European Union and some other countries in the spring of 2014. The sanctions packages several times expanded and tightened.
On 2 August President of the United States Donald trump endorsed the introduction of new sanctions against Russia. Before that bill was supported by the two houses of Congress: July 25 – the House of representatives (voted 419 congressmen, against – three abstentions – 12), July 27 – the Senate (was 98 senators, against – two).
In particular, the act requires financial intelligence of the United States within 180 days to provide information about located in the West the assets of Russian politicians and businessmen close to the Kremlin.
Putin instructed to determine the conditions of the bond issue debt in foreign currency for Russian investors 24.12.2017