Russia dumps US debt and buys gold instead

The Russian Federation has sharply reduced its holdings of US Treasury bonds, with Russia recently at its lowest level in 11 years, RT and Wolf Street reported.

The share of US bonds held by Russia rose from $ 96.1 billion in March to $ 48.7 billion in April and stands at only $ 14.9 billion. dollars, according to the latest available data.

The US Treasury on Tuesday released a list of the top 33 investors in US debt. Russia ranked in the top ten in 2010 with $ 176.3 billion in property, but it now ranks below Chile in terms of US Treasury positions.

The Russian liquidation began in 2011 and has intensified as the United States has increased the sanctions against the country.

Elvira Nabiullina, head of the Central Bank of Russia (CBR), said the reduction is due to an assessment of financial, economic and geopolitical risks, RT reported.

The Russian Federation buys large quantities of gold while it continues to sell US Treasuries, recently surpassing China as the world's largest holder with a value of 80.5 billion dollars, according to the CBR.

China holds $ 1183 billion of the debt of the United States, the largest number of foreign countries.

Turkey also reduced its holdings of US debt by nearly half, from $ 62 billion in 2017 to $ 32.6 billion in May. Germany's position amounts to 78.3 billion dollars.

The US currency is under increasing pressure in 2018 as US debt rises.