Russia intends to reduce its holdings of U.S. government debt, the Wall Street Journal reports, citing presidential economic adviser Arkady Dvorkovich.
“The share of our portfolio in U.S. instruments has gone down and probably will go down further,” Dvorkovich told Dow Jones in St. Petersburg yesterday, the newspaper reported on its website.
On whether or not U.S. debt remained a good investment today as it was ten years ago, Dvorkovich told the Journal, “On an absolute basis, yes. On a relative basis, compared to other investments, of course not.”
“When we take decisions and compare, we’re not thinking in absolute terms,” Dvorkovich said.
Russia has lowered its position in U.S. Treasury securities significantly since late last year, down from $176.3 billion in October of 2010 to $125.4 billion in April 2011, according to the Journal.
Russia’s financial reserves are the third biggest, after China and Japan’s.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply