July 13, 2017 / 10:04 AM / 11 days ago

Russian minister says companies would prefer borrowing in roubles

1 Min Read

ST PETERSBURG, Russia, July 13 (Reuters) - Russian companies and banks would increasingly prefer borrowing in roubles, taking into account rising costs of borrowing in dollars as well as Western sanctions imposed on Russia, Russian Economy Minister Maxim Oreshkin said on Thursday.

Speaking at an annual banking conference in St Petersburg, Oreshkin also said the government should prompt state-controlled companies not to increase their borrowings in foreign currency. (Reporting by Andrey Ostroukh, Elena Fabrichnaya and Kira Zavyalova; Writing by Denis Pinchuk; Editing by Polina Devitt)

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