Media ININ Economy We Trust
Aug 19
An informed source revealed that the Russian company “Rusal”, the largest producer of aluminum in the world, intends to issue bonds denominated in Emirati dirhams on the Moscow Stock Exchange, according to the “RT” network.
The Russian company hopes to collect orders with a value of at least 350 million dirhams (about 95.37 million dollars) from investors on September 6, and plans to issue bonds with an annual return of 6%.
The issuance is organized by Gazprom Bank, and the nominal value of the bonds is 1,000 dirhams.
This is not the first transaction in dirhams for Russian companies. Recently, India required banks and merchants to use dirhams to pay for Russian imports.
And in 2022, the Moscow Stock Exchange announced an expansion of the list of currencies traded in it, against the background of the sanctions imposed on Russia, and among the 9 currencies traded were the UAE dirham.
