Russia's Finance Ministry is preparing to issue a new tranche of yuan-denominated government bonds to help plug a widening budget deficit that reached nearly 6 trillion rubles ($84 billion) in the first four months of the year, underscoring Moscow's growing reliance on debt financing and Chinese currency instruments as Western sanctions continue to constrain its options.

Russia plans a second yuan-denominated sovereign bond sale with 10-year maturities, building on its December CNY 20 billion debut issuance amid Western sanctions.

Russia's Finance Ministry is preparing to issue a new tranche of yuan-denominated government bonds to help plug a widening budget deficit that reached nearly 6 trillion rubles…

Russia said it will issue new government bonds denominated in Chinese yuan just days after Vladimir Putin returned from Beijing, underscoring Moscow’s growing financial dependence…