UPDATE 2-Russian National Wealth Fund to abandon all assets in U.S. dollars
(Adds detail, analyst comment) ST PETERSBURG, June 3 (Reuters) - Russia’s National Wealth Fund (NWF) will sell off all its U.S. dollar assets, increasing the share of its holdings in euros, Chinese yuan and gold, Finance Minister Anton Siluanov said on Thursday, with the changes expected within a month. Russia has gradually reduced its dollar holdings since the imposition of Western sanctions following Moscow’s annexation of Crimea in 2014, and has sought to partially decouple from the Western financial system. “Like the central bank, we have decided to reduce investments of the NWF in ...
Source: reuters.com