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$21Bln of Bond Sales Slated

Russia may sell as much as $21 billion of international bonds between 2012 and 2014, the Finance Ministry said.

The government set a maximum annual target of $7 billion starting in 2012, according to a draft budget for the next three years published on the ministry's web site Monday. The foreign currency notes will have maturities of as much as 30 years, the ministry said. Finance Minister Alexei Kudrin is scheduled to discuss budgetary policy with lawmakers at the State Duma on Sept. 21.

The country also seeks to borrow 1.21 trillion rubles ($39.05 billion) domestically in 2012, 1.19 trillion rubles in 2013 and 1.09 trillion rubles in 2014, the draft plan shows.

(Bloomberg)

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