KIEV, July 7 - Ukraine is studying the possibility of issuing bonds denominated in Russian rubles, but is not yet planning to borrow because of unfavorable conditions on external markets, the country's Finance Minister Fedir Yaroshenko told reporters in Kiev on Thursday.

"We are studying this topic now, how the market is behaving, and working with the Russian banks VTB, Sberbank of Russia, and VEB. We will be selecting the best options available. But the situation now is not the best, there is instability on world markets," Yaroshenko said.