Russia To Stop Bond Issuance This Year Due To "Cosmic" Cost Of Borrowing

Pro-Kremlin daily newspaper Izvestia runs an interview with Russian Finance Minister Anton Siluanov:

• the official threatens that Moscow could go to court if the West forces Russia to default on its Eurobonds but admits that the chance of success in legal proceedings is thin
• he says Russia does not plan to issue domestic or foreign debt during the rest of this year because "the cost of such borrowing would be cosmic"
• "I think in the near future [borrowing] is hardly possible. If we do borrow, it will be primarily from domestic investors."
• he pledges that restrictions on the withdrawal of foreign currencies from banks will be gradually unwound "as the situation normalises"