The escalating military standoff with Russia is cutting foreign demand for domestic government bonds,

Yuriy Geletiy, a deputy governor of the National Bank of Ukraine, told reporters yesterday. “Prior to Russia’s concentration in the East, investors were actively buying IGLBs,” he said, referring to the bonds. “Unfortunately, Russia’s provocative actions at the border have worsened investors’ assessments of the Ukrainian market’s prospects. There is little demand from nonresidents.”