Economics
Russia to Cut U.S. Securities Holdings More as Sanctions Loom
- Siluanov says Russia to continue reducing reliance on dollar
- Russian holdings of Treasuries dropped sharply in spring
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Russia will cut further its holdings of American securities and reduce reliance on the dollar in an effort to protect its economy from new sanctions from the U.S., according to First Deputy Prime Minister Anton Siluanov.
“We’ve cut investment in the American economy, in American securities, and will continue to reduce that,” Siluanov said in an interview with Rossiya 1 television channel late Sunday. “More and more, we’re conducting transactions in national currencies -- including the ruble, the euro, Chinese yuan and such.”