Russia Keeps Investment Trust in US Treasuries

Author: us-russia
Comments: 0
Russia Keeps Investment Trust in US Treasuries
Published 13-10-2013, 17:49
MOSCOW, October 12 (RIA Novosti) – The Russian government will not revise its policy of investing almost half of the country’s foreign exchange reserves in US Treasury securities despite growing fears of a looming US debt default, Russian Finance Minister Anton Siluanov said.

"I don't see the need for changing our reserve investment strategy at present," Siluanov told reporters Friday after a meeting of the G20 finance ministers and Central Bank chiefs in Washington.

"These [US Treasuries] are reliable securities today, and we don't plan significant changes in this policy," he said, adding that the partial shutdown of the US government, which entered 11th day on Friday, is a short term event while Russia’s investments are long-term.

Siluanov expressed hope that the White House and the US Congress would find a solution to the current standoff over government debt-ceiling increase by the October 17 deadline.

"We invest a major part of our reserves, about 45 percent, in US securities, that is why we would certainly want the Congress and the US administration collaborate to resolve this crisis as soon as possible,” he said.

According to official statistics, foreign exchange reserves in Russia stood at some $522.6 billion as of September 2013. Foreign exchange reserves are foreign assets held or controlled by Russia's Central Bank.

 

RIA Novosti

Comments: 0
Experts' Panel
Any advice to Trump?
All those who have contributed to the Trump - Pence "Make America...
Any advice to Trump?
Top
popular in the journal
RUSSIAN FEDERATION SITREP 3...

RUSSIAN FEDERATION SITREP 3...

BALANCE. The first successful test of the Avangard hypersonic vehicle is announced. Super fast (Mach 27 they say) and highly manoeuvrable, development began when ...
Hell, Yes! Finally, Trump Is...

Hell, Yes! Finally, Trump Is...

Finally there's a glimpse of "America First" in Trump's Foreign Policy. Syria withdrawal is a good thing -- for the US
From Kerch Strait to Meeting With...

From Kerch Strait to Meeting With...

Russian President Vladimir Putin held his 14th annual end-of-the-year press conference on 20 December, having touched upon a wide array of issues, including relations ...
Donald Trump orders full...

Donald Trump orders full...

To readers who are estranged from the comfortable complacency of the political center and who were initially skeptical of the first media reports yesterday that Trump ...
Do Russiagate Promoters Prefer...

Do Russiagate Promoters Prefer...

  The year 2018 in the history of the new Cold War.