Russia is trying to reduce its dependence on the dollar by cutting US securities holdings and settling more trade payments in other currencies, Moscow’s chief economic policymaker said, as he sketched out the government’s response to intensified US sanctions.
Anton Siluanov, finance minister and deputy prime minister for the economy, said the US currency was “becoming a risky instrument in international settlements.”
“We have decreased to a minimum level and will further cut our investment in the US economy, in US securities,” he added, in the most direct confirmation so far of a Russian government sell-off of US Treasuries.
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