This is a completely sensible decision, First Deputy Prime Minister of the Russian Federation noted
ST. PETERSBURG, June 3. /TASS/. The decision to withdraw the dollar from the structure of the National Wealth Fund (NWF) was caused by the threat of sanctions from the American leadership, First Deputy Prime Minister of the Russian Federation Andrei Belousov told reporters on Thursday at the St. Petersburg International Economic Forum. This is a completely sensible decision. This is due, among other things, to the threat of sanctions that we received and perceived from the American leadership, Belousov said.
When asked how this decision will affect the ruble, Belousov replied: Honestly? Not at all .
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3 Jun in 14:20
Russia will eliminate the dollar from its National Wellbeing Fund, shifting to euros, yuan and gold, Finance Minister Anton Siluanov said, as the Kremlin seeks to reduce exposure to U.S. assets amid threats of sanctions. We can make this change rather quickly, within a month, Siluanov told reporters at the St. Petersburg International Economic Forum.
The wealth fund currently holds 35% of its liquid assets in dollars, worth about $41.5 billion, with the same amount in euros and the rest spread across yuan, gold, yen and pounds.
After the change, the fund’s assets will be held 40% in euros, 30% in yuan, 20% in gold and 5% each in yen and pounds, Siluanov said.
Saint-Petersburg [Russia], June 3 (ANI): The Russian Direct Investment Fund (RDIF), Bahrain's Mumtalakat Holding Company (Mumtalakat, sovereign wealth fund of the Kingdom of Bahrain) and Binnopharm Group (a subsidiary of Sistema PJSFC) on Thursday signed an MoU to establish a new vaccine production facility in Bahrain to manufacture and distribute the Russian Sputnik V coronavirus vaccine across the Middle East and North Africa (MENA) region.