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Russia & China expanding yuan share in mutual trade, pushing out US dollar - Chinese Ambassador to Russia -- Puppet Masters -- Sott net
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Russian national wealth fund falls to $187 6 bln as of July 1
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USD excluded from Russia s national wealth fund, RMB share up to 30 4 pct - World News
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ST PETERSBURG, June 3 (Reuters) - Russia’s National Wealth Fund (NWF) will sell off all its U.S. dollar assets, increasing the share of its holdings in euros, Chinese yuan and gold, Finance Minister Anton Siluanov said on Thursday, with the changes expected within a month.
Russia has gradually reduced its dollar holdings since the imposition of Western sanctions following Moscow’s annexation of Crimea in 2014, and has sought to partially decouple from the Western financial system.
“Like the central bank, we have decided to reduce investments of the NWF in dollar assets,” Siluanov said at the St Petersburg International Economic Forum (SPIEF).