Russia to further reduce US securities holdings

Source:Reuters Published: 2018/8/12 22:33:40

Russia will further decrease its holdings of US securities in response to new sanctions against Moscow but has no plans to shut down US companies in Russia, Finance Minister Anton Siluanov said on state TV on Sunday, RIA news agency reported.

On Friday, Prime Minister Dmitry Medvedev said Russia would regard any US move to curb the activities of its banks as a "declaration of economic war" and would take retaliatory action.

Washington said on Wednesday it would impose fresh sanctions by the end of August after it determined that Moscow had used a nerve agent against a former Russian agent and his daughter in Britain, sending Russia's rouble currency to a two-year low.

Speaking on a weekly TV talk show, Siluanov said the new US sanctions, some of which could restrict purchases of Russian government bonds, were "unpleasant but not fatal."

"We have lowered to the minimum level and will further decrease our investment in the US economy, in the US securities," Siluanov said.

Russia has ditched its holdings of US Treasuries in the past few months.

It will also have more settlement in roubles and other currencies, such as the euro, than in dollars, Siluanov said.



Posted in: CROSS-BORDERS

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