Russia ditching dollar
Move is the latest part of Moscow’s de-dollarization drive amid sanctions pressure, but analysts see accounting trick.
Global Research, June 03, 2021The Moscow Times
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Russia’s sovereign wealth fund will ditch its holdings in dollars from its$185 Billion Reserve Fund, dramatically increase its holdings of Chinese yuan and invest in gold for the first ever time, Russia’s Finance MinistrysaidThursday.
Finance Minister Anton Siluanovtold the St. Petersburg International Economic Forum (SPIEF) that Russia’s $186-billion national welfare fund (NWF) would completely divest its $41 billion worth of holdings in dollars within a month.
“Today we have about 35% of NWF investments in dollars,” Siluanov said. “We’ve decided to get out…
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