Economy Finance & investing French Highlights

Russia Continues Selling Off Billions of Dollars in US Debt

According to US Treasury Department data, foreign investors, including China, Japan, Russia, and many others, cut their reserves of American debt in November 2018 by $105 billion from a year earlier, to $6.2 trillion.

The freshly released data from the US Treasury Department indicates that Russia reduced its holdings of American debt by $1.815 billion last November to $12.814 billion from October. Some $3.75 billion were invested into long-term obligations, while $9.1 billion poured into short-term ones.

The three biggest holders of US sovereign debt are China with $1.138 trillion, Japan with $1.036 trillion and Brazil with $311 billion. The data also shows that China, as the largest holder of US debt, cut its holdings to $1.12 trillion, reaching the lowest level since November 2017.

Last year, the US Treasury announced that Russia had left the list of the biggest shareholders of US sovereign debt, having slashed it by 84 percent or $81 billion worth of US treasury noted between March and May 2018.

The timing of the move overlapped with the imposition of a new round of sanctions against United Co. Rusal, a Russian aluminium producer, with Russia’s Central Bank explaining that the decision was part of a plan to diversify holdings.

 

Source: sputniknews

 

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