Russian banks have no spare ruble liquidity to buy the government bonds used to finance the federal budget deficit, a senior Sberbank executive said, raising questions about Moscow’s ability to cover rising wartime spending through domestic borrowing.

Russian banks have no spare ruble liquidity to buy the government bonds used to finance the federal budget deficit, a senior Sberbank executive said, raising questions about…

Russian banks currently have no free rouble liquidity to buy federal loan bonds, which Russia's Ministry of Finance uses to cover the budget deficit.