The share of foreign investments in Russian federal loan bonds (OFZ) decreased to 18.8% by January 28. This is the lowest value since July 2015. Last week, non-residents withdrew 53.4 billion rubles from the OFZ. Moreover, for Thursday and Friday, the net outflow amounted to 30.5 billion rubles.
According to VTB Capital, last week the share of foreigners in the Russian public debt fell by 0.1 percentage points to 18.8%. According to the Bank of Russia, by December 1, 2021, the share of non-residents in OFZs was measured at 20.5%, the total investment amounted to 3.2 trillion rubles.
The last time analysts observed a decrease in the interest of foreigners in OFZs was in April-June 2021 against the backdrop of new US sanctions that banned foreigners from participating in the initial placement of Russian government bonds. According to the Central Bank, as of April 1, the share of foreign investments in OFZs was at the level of 20.9%, as of July 1 – 19.7%, after which the figure began to grow.
According to experts, the decrease in investments of foreigners in OFZ occurs against the backdrop of geopolitical tensions and the cessation of auctions for the placement of OFZ due to a market collapse.
Read more about the interest of foreigners in OFZs in the material “Kommersant” “Russian public debt sold their own.”