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imageMOSCOW: The Russian finance ministry said on Wednesday that it had cancelled its weekly auction of OFZ treasury bonds due to lack of demand.

It said that orders were insufficient at "the prices adequately reflecting the credit quality of the issued bonds".

The ministry had been planning to sell up to 20 billion roubles ($561 million) in two separate auctions of bonds maturing in 2020 and 2028.

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