Russia and China are dumping their US Treasury debt holdings amid Washington's sanctions and tariff spree. In April, Moscow sold nearly a half of its holdings of US debts, reducing them from $96.1 billion to only $48.7 billion. For comparison's sake, Russia's investments in US bonds exceeded $150 billion in 2013. According to Elvira Nabiullina, the Bank of Russia governor, the financial institution takes into consideration all possible risks, including geopolitical ones, when it comes to the diversification of the country's gold and foreign exchange reserves. "We have increased the share of gold last year, we are diversifying the foreign exchange part [too]," Nabiullina noted, speaking at the Russian State Duma on June 19. For its part, Beijing, the largest foreign owner of Treasuries, cut its holdings by $5.8 billion to $1.18 trillion. However, Russia and China were not the only foreign countries losing appetite for US bonds, bi...
from GoldBroker.com https://www.goldbroker.com/news/russia-dumps-us-treasuries-for-gold-1341
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