Reuters reported today on a press briefing on Aug. 21 by New Development Bank Chief Operating Officer Vladimir Kazbekov, in which he announced that the NDB would issue its first Indian rupee bond in October 2023. He said the NDB issued its first rand bond in South Africa last week, and that it was considering future national currency bonds in members Brazil, Russia and United Arab Emirates. A ruble-denominated bond floated in Russia would be a clear violation of sanctions, so that raises some questions.