JRL NEWSWATCH: “Russia Cuts Dollar Holdings From $119 Billion Wealth Fund Amid Sanctions” – Bloomberg

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“Russia said it will eliminate the dollar from its oil fund [the National Wellbeing Fund] to reduce vulnerability to Western sanctions …. The wealth fund currently holds 35% of its liquid assets in dollars, … about $41.5 billion, with the same amount in euros and the rest spread across yuan, gold, yen and pounds. Anton Siluanov file photoAfter 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, [Finance Minister Anton] Siluanov said […]”

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