Ukraine’s bonds rally further, hit highest since day after invasion

LONDON (Reuters) – Ukraine’s government bond prices climbed further on Tuesday, hitting their highest since the start of Russia’s invasion a month ago, as the two countries held their first face-to-face talks in nearly three weeks.

The bonds, which are denominated in dollars, climbed between 5 cents and 6.3 cents, Tradeweb prices showed. Most continue to trade below 50 cents on the dollar.

Russian forces invaded Ukraine on Feb. 24. Russian President Vladimir Putin called it a “special military operation” to demilitarize Ukraine. Ukraine and the West say Putin launched an unprovoked war of aggression.

Ukraine has said it holds little hope of an immediate breakthrough in the talks with Russia in Turkey on Tuesday. But the resumption of face-to-face discussions is seen as possible step towards a ceasefire in the month-long war.

(Reporting by Marc Jones and Rodrigo Campos; editing by Danilo Masoni and Jonathan Oatis)