Then, unnamed investors (allegedly the largest Russian state banks) benefited from the CBR’s decision on December 12 to allow these bonds to be used as collateral for three-year CBR ruble loans at the policy rate. Moreover, the CBR scheduled a special auction for such loans on December 15 – with the total amount of the loans similar to that of Rosneft’s bond issue.
接着，不知名投资者（据称是最大的几家俄罗斯州银行）因为CBR在12月12日作出的决定而获益——允许这些债券作为抵押换取CBR按政策利率发放的三年期卢布贷款。此外，CBR还安排在12月15日举行这些贷款的特别拍卖——总贷款额与俄石油的债券发行额相近。因此，CBR得以按低于市场水平的利率向俄石油提供巨额卢布。那么，这笔交易为何会引发恐慌？