Russian tycoons, fearing new sanctions, float idea of new treasury bond: sources

Moscow

WEALTHY Russians facing the prospect of targeted US sanctions next year have floated the idea of a special treasury bond to facilitate favourable terms for bringing their cash home, three sources familiar with the scheme said.

The bond, denominated in foreign exchange, would be offered at a higher yield than bank rates and be more liquid than Eurobonds, the sources said. Crucially, unlike with bank accounts, holders would be able to remain anonymous.