JUST IN – Russia to exit from all Dollar assets in its Wealth Fund & to invest in Euros, Pound, Gold, Yuan instead – Russian Finance Minister Siluanov
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The Russian Ministry of Finance will introduce changes to the structure of the National Wealth Fund within a month, as the share of the US dollar will decrease to zero and the share of yuan will grow to 30 percent.
“Just as the Central Bank, we made a decision to reduce the National Wealth Fund investment in dollar assets … We made a decision to abandon the dollar assets completely and to increase the share of euro and gold instead. The share of dollar will amount to zero, euro – 40 percent, yuan – 30 percent, gold – 20 percent, pound and yen – 5 percent each,” Siluanov told reporters at the St. Petersburg International Economic Forum (SPIEF).”
According to the finance minister, this will happen “quite quickly, within a month.”
And so it begins..