Foreign investors retain share of Russian bonds in portfolios since start of sanctions - Storchak
MOSCOW. May 25 (Interfax) - Deputy Finance Minister Sergei Storchak said that the share of Russian debt instruments in the portfolios of foreign investors has been maintained since the deterioration of the geopolitical situation and imposition of sanctions.
"By the reports of the Central Bank we see that the share of Russian debt instruments in the portfolios of foreign investors remains about the same as it was before the beginning of the events that are most often described as the escalation of geopolitical risks," Storchak said Friday on the Interfax and Ekho Moskvy broadcast Scanner.
He said foreign institutional investors are happy to buy Russian instruments denominated in rubles.
"Apparently, there is specific interest in having a certain share of Russian risk in their big portfolios - often this is tens, hundreds of billions of dollars - and thus slightly diversify the external position. I think that those who are professionally involved in operations on the market take into account all risks, including those related to the imposition of political restrictions," Storchak said.
"Russia, as a sovereign borrower, has gained recognition on foreign markets," he added.
Speaking about the possibility of Russia entering the foreign market in 2015, he said that "sectoral [sanctions], unfortunately, do not allow many potential institutional investors to buy our financial instruments."
"We understand this well, so we are not considering entry into foreign markets this year as a real possibility," Storchak said.