Russia is continuing to diversify state reserves away from US debt, by liquidating US treasury holdings.
In 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion. With its holdings falling to $14.9 billion in May, the country is now below the $30 billion threshold for inclusion on the Treasury Department’s monthly report of major holders. On Tuesday, the Treasury released a list of 33 countries which includes the biggest holder China to the smallest Chile. Russia is no longer on the list.
Russia has been buying and storing gold since. Why is Russia dumping US Dollar? Are they trying to undermine the US economy with this power move, and is there a hidden agenda?
They are also supporting petro-yuan, where they buy petrol in Yuan instead of in dollars, further undermining US Dollar.
I wonder if these will worsen the trade sanctions, which whitehouse have been imposing on Russia, and lead to a even major trade war between the two parties.
article: https://www.rt.com/business/433566-russia-dumps-us-treasury-holdings/
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