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Russia Dumps Massive Amount of U.S. Treasury Holdings—Becomes World’s Largest Holder of Gold
The Russian government has drastically reduced their holdings of United States Treasury bonds, with Russian ownership of U.S. bonds declining from $96.1 billion in March to $48.7 billion in April—and then further reducing their holdings to just $14.9 billion in May; an 11-year low. In 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion. Russia has been buying large amounts of gold during its gradual sell-off of U.S. Treasury bonds, and it recently overtook China as the world’s biggest holder of gold with $80.5 billion worth.
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