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Moscow expects EU summit results to decide on Spain’s bonds

October 25, 2011, 15:04 UTC+3
Moscow expects to get information about the results of the EU summit that will finalize Russia’s decision on whether to buy Spain’s debt securities or not, the Kremlin’s top...
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MOSCOW, October 25 (Itar-Tass) — Moscow expects to get information about the results of the EU summit that will finalize Russia’s decision on whether to buy Spain’s debt securities or not, the Kremlin’s top economic adviser, Arkady Dvorkovich, told Itar-Tass on Tuesday.

“Today we should get the EU summit’s special decision, and I still have no concrete documents,” Dvorkovich said.

At the same time he noted that the decision on acquisition of Spain’s bonds will be considered “as a routine practice.”

“We’ve repeatedly mentioned that we do not consider separate countries’ obligations. Our investment portfolio from our funds – the Reserve Fund, currency reserves and the Future Generations Fund – is formed by the Central Bank and the Finance Ministry in general, and there are no and will be no preferences for concrete countries,” he said.

The EU summit on October 23 focused on solving the debt crisis of the eurozone.

Earlier Dvorkovich told the forum dealing with the Sixth Millennium Development Goals (MDG-6) on October 10 that Foreign Minister Sergei Lavrov and ex-finance minister Alexei Kudrin met with Spain’s Finance Minister Elena Salgado to discuss Russia’s possible participation in solving the eurozone crisis and acquisition of Spain’s debt securities.

The first deputy head of the Central Bank of Russia, Alexei Ulyukayev, announced readiness to invest Russia’s international reserves into Spain’s government bonds.

Earlier ratings agencies Standard and Poor’s and Fitch downgraded the long-term credit rating of Spain and signalled further possible downgrades.

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