Mubasher: Russia sold EUR 1 billion euros worth of bonds on Tuesday at an interest rate of 3%

This was the first euro-denominated Eurobond issuance by the Russian government in five years.

Russia seeks to reduce reliance on the US dollar, as reported by Reuters.

Moscow went with the bond issuance that has been planned for months with fears that the European Union could soon impose new sanctions.

A conflict between Russia and Ukraine since the annexation of Crimea in 2014 remain a major issue between Moscow and the EU.