December 21, 2017 / 3:22 PM / in a year

Russia's Putin orders issue of bonds for funds repatriation in 2018

FILE PHOTO - Russian President Vladimir Putin attends a meeting of the Presidential Council for Culture and Art at the Kremlin in Moscow, Russia December 21, 2017. REUTERS/Maxim Shipenkov/Pool

MOSCOW (Reuters) - Russian President Vladimir Putin said on Thursday he ordered to set up parameters for the issuance of bonds denominated in foreign currency that businesses can use to repatriate funds from abroad.

Putin told a meeting of top businessmen and government officials that these bonds should be issued in 2018.

Reuters reported earlier this month wealthy Russians facing the prospect of targeted U.S. sanctions next year have floated the idea of a special treasury bond to facilitate favorable terms for bringing their cash home.

Reporting by Denis Pinchuk; Writing by Andrey Ostroukh; Editing by Alison Williams

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