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Russia is unlikely to sell Eurobonds in Q1 2013 - Finance Ministry

February 4, 2013 Prime
Deputy Finance Minister Sergei Storchak told reporters that Russia was unlikely to place sovereign bonds in the first quarter of 2013. "We don't have enough time, as it is, not enough time," he said. The Deputy Minister added that the Finance Ministry had not yet chosen the Arrangers for Eurobond issues due to a conflict with the Ministry of Economic Development and Trade regarding the bank selection procedure. According to him, the Ministry of Economic Development believes that the approach of the Finance Ministry doesn't comply with the laws on government contracts.