Rosatom to Issue Yuan Bonds Amid Strengthening Russia-China Ties
Russian nuclear giant Rosatom plans to issue yuan-denominated bonds in China, seeking to strengthen financial ties amid geopolitical shifts. The move follows a high-profile visit by President Vladimir Putin to China, emphasizing joint financial efforts in the 'Global South' and cooperation in nuclear energy development.
Russian state nuclear corporation Rosatom is poised to issue yuan-denominated bonds in China, marking a significant step in bolstering Russia-China financial relations. This development comes shortly after Russian President Vladimir Putin's recent visit to China, which underscored the necessity of a unified financial infrastructure for the 'Global South'.
Rosatom's head, Alexei Likhachev, affirmed the company's commitment to aiding China in achieving dominance over the United States in nuclear generation capacity. The collaboration extends to Rosatom assisting in the construction of eight nuclear reactors in China, supported by China's enormous demand for uranium and nuclear fuel.
The issuance of yuan bonds aligns with the Russian strategy of accessing China's robust bond market, the world's second-largest, particularly vital as Western financial avenues close due to sanctions. This strategic financial maneuver is further supported by strong credit ratings from Chinese agencies for Russian enterprises, including Gazprom.
(With inputs from agencies.)
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