Russia says will cut holdings of US securities amid sanctions - RIA

By On August 12, 2018

Russia says will cut holdings of US securities amid sanctions - RIA

Russian ruble banknotesIlya Naymushin | Reuters Russian ruble banknotes

Russia will continue decreasing its holdings of U.S. securities in response to new U.S. sanctions on Moscow, Finance Minister Anton Siluanov said, RIA state news agency reported on Sunday.

Russia will increasingly use roubles and other currencies, including the euro, rather than the U.S. dollar in its settlements, Siluanov said, speaking on state TV.

The country's holdings of Treasury securities declined 84 percent between March and May, falling to $14.9 billion from $96.1 billion in just two months, according to a U.S. Treasury Department report released July 18. However, Moscow's holdings are eclipsed by China and Japan, both of which own more than $1 trillion in U.S. government debt on their books.

--CNBC's Thomas Franck contributed to this report.

Source: Google News Russia | Netizen 24 Russia

Next
« Prev Post
Previous
Next Post »