Russia's No.2 oil producer LUKoil has delayed a eurobond placement to autumn due to rising costs of funding stemming from West-imposed sanctions over Russia's actions in Ukraine, the company's head was quoted on Thursday as saying.
"The sanctions have been reflected on all the companies ... We have postponed eurobonds placement to autumn from spring as the banks, which were organizing the issue, recommended us to get back to it in the autumn," Vagit Alekperov told Vedomosti business daily in an interview.
Russian media outlets have reported that LUKoil was poised to issue $1.5 billion worth of eurobonds.
See also:
Ukraine Crisis Could See LUKoil Lose Financing
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.