A Russian state development bank is reportedly in talks to sell yuan-denominated bonds in China.

The deputy chairman of Vnesheconombank says negotiations on the local placement are in an advanced stage.

The size and a possible time frame for the offering haven't been revealed.

Vnesheconombank has been locked out of a number of international capital markets because of sanctions.

Chinese authorities have been making it easier for international investors to access the Chinese interbank bond market, loosening restrictions a few weeks ago.