Britain and Russia vowed Thursday that political tensions between London and Moscow would not harm trade and investment between the two countries.
But Russian Finance Minister Alexei Kudrin said it was too early to provide specifics about an expected bond issue, which reports had suggested could be announced during his trip to London.
A weekend newspaper, the Sunday Telegraph, had reported that Kudrin would use a meeting with Britain's business minister Peter Mandelson to announce an 11-billion-pound (18-billion-dollar) Eurobond issue.
"We made a disclaimer today that we're not setting a time frame ... Today we're not ready quite to speak about the exchange of some bonds," he said, adding that it was "too early" to be more specific.
But he said: "We have identified a lot of decisions that have to be taken in taxation, in custom tariffs ... We have emphasised the fact that we should overcome the lack of confidence that still exists betwen the two countries."
Mandelson echoed the pledge not to let politics get in the way of business.
"Of course what's important in political dialogue between our governments is, where there are differences of opinion or perception that our government ministers talk about these things," he said.
"It's the condition of our relationship that we can talk frankly to each other."
About 40 to 50 leading businessmen, including representatives of the Russian central bank, were invited to a presentation by Kudrin in London, according to deputy finance minister Dmitry Pankin.
Relations between Moscow and London were plunged into a deep chill by the death by poisoning of former Russian spy turned exiled Kremlin critic Alexander Litvinenko in London three years ago.
Foreign Secretary David Miliband travelled to Moscow this month, in the first such visit for five years, although the two sides failed to resolve their differences over a British request to extradite primary suspect Andrei Lugovoi.
Russia announced in August that it plans to borrow from the international debt markets for the first time in 10 years, with the need to replenish state coffers depleted by the crisis overriding the trauma of its 1998 default.
The country is planning to issue eurobonds with a volume of 17.8 billion dollars in 2010, followed by 20.7 billion dollars in 2011 and 20 billion in 2012, according to the finance ministry's plans, it said at the time.
