Russia's Minfin to Raise 2.45T Rubles via OFZ in Q4 2026

Russia's Ministry of Finance plans to borrow approximately 2.45 trillion rubles through OFZ placements in Q4 2026, per its auction schedule. This signals continued heavy domestic borrowing to fund the budget deficit amid constrained external market access. The scale of issuance may pressure local yields and ruble liquidity, though absorption capacity remains a key uncertainty.