Foreign Media: Rosatom Preparing to Issue RMB Bonds

A spokesperson for the Russian State Atomic Energy Corporation (Rosatom) told Reuters on Monday, September 8, that it is preparing to issue RMB-denominated bonds in China.

The spokesperson did not provide further details. Last week, Russian President Putin visited China and called on "the Global South" countries to establish a common financial infrastructure during the visit.

During a four-day visit to China, the general director of the Russian State Atomic Energy Corporation, Likhachev, said the company is willing to help China surpass the United States in nuclear power capacity.

Likhachev said that Russia has helped build four nuclear reactors in China and is currently building another four; China's ambitious plan requires a large amount of uranium and nuclear fuel.

The key power generation department of the Russian State Atomic Energy Corporation, the Nuclear Power Industry Complex, said in April that it had received an AAA rating from the Chinese Da Gong Global Credit Rating Agency, with the assessment result being "stable."

In August, the Chief Financial Officer of the Russian State Atomic Energy Corporation, Rebrov, told a business publication, "Approval has been obtained from the Supervisory Board of the state-owned enterprise to attract foreign financing."

Rebrov said, "The Nuclear Power Industry Complex is preparing to issue RMB-denominated bonds."

On September 5, another Chinese rating agency, Zhongzheng Pengyuan, granted an AAA rating to Gazprom, a major Russian oil and gas giant listed on the U.S. blacklist, paving the way for its issuance of bonds in the domestic Chinese bond market.

Entering the world's second-largest Chinese bond market will be beneficial for Russian companies unable to access Western financing due to sanctions.

Days before Gazprom received the AAA rating, Russia and China approved the Siberian Power 2 pipeline, a large-scale natural gas project connecting the two countries. Both China and Russia seek to reduce their economic dependence on the West.

Sources: Reuters and others

Original: www.toutiao.com/article/1842713912192075/

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