Russia will completely abandon the dollar in the structure of the NWF within a month
Euro, yuan, pounds and yen will remain in the structure of the National Wealth Fund
SAINT PETERSBURG, June 3. / TASS /. Within a month Russia will completely abandon the American dollar in the structure of the National Wealth Fund (NWF) and reduce the share of the British pound. The share of the euro and the yuan will grow in the NWF, gold will appear, and the share of the Japanese yen will not change, Finance Minister Anton Siluanov told reporters on Thursday on the sidelines of the St. Petersburg International Economic Forum.
"We, like the Central Bank, have made a decision to reduce the NWF's investments in dollar assets. Today, in terms of structure, we have about 35% of NWF investments in dollars. We made a decision to get out of dollar assets completely, replacing investments in dollars. an increase in euros, an increase in gold, "Siluanov said. According to him, the transition to the new structure of the NWF will take place within a month. “It’s fast enough, within a month, to come to this share,” Siluanov said.
"In dollars (to be invested - approx. TASS) - 0%, in euros 40%, in yuan 30%, in gold 20%, in pounds and yen at 5%," - said Siluanov about the new structure of the NWF.
"Our operator (in terms of gold purchases - TASS note) is the Central Bank. It operates with its gold and foreign exchange reserves, and for the NWF it determines the structure of its assets and the NWF's share in these assets," the minister added.