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Russia to sell off more US Treasuries in retaliation against sanctions
Link: https://www.rt.com/business/435817-russia-sell-us-treasuries-sanctions/
Moscow will continue selling off its holdings of US Treasury securities in response to the new penalties Washington is ready to introduce against Russia in the near future, according to Russia’s Finance Minister Anton Siluanov.
The minister added that the government will stick to the plan of moving away from the US dollar for international trade, as it recently proved to be a “risky” payment method. In 2010, Russia was among the top-10 holders of US debt at over $176 billion. Central Bank of Russia dumped 84 percent of its remaining holdings of US Treasury securities due to concerns about a wide range of risks, including financial, economic and geopolitical. The country’s holdings declined from $96.1 billion in March to just $14.9 billion in May.
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