RUSSIA TO OPEN BOND MARKET TO FOREIGN INVESTORS.

Russia will later this month offer $500 million of its state bonds (GKO) to foreign investors. (Financial Times, March 22) Purchase of the high-yielding treasury bills has until now been restricted to the domestic market. If the sale goes ahead successfully, it will increase the funds available to the Yeltsin government for spending on social support in the runup to the June elections.

Russian and U.S. Oil Companies in Negotiations.