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Russia Dumps Massive Amount of US Treasury Holdings — Becomes World’s Largest Holder of Gold

Russia’s holdings of United States Treasury bonds is currently at its lowest point in 11 years as the country opts to invest in gold instead.

By Jay Syrmopoulos | 22 July 2018

THE FREE THOUGHT PROJECT — The Russian government has drastically reduced their holdings of United States Treasury bonds, with Russian ownership of U.S. bonds declining from $96.1 billion in March to $48.7 billion in April—and then further reducing their holdings to just $14.9 billion in May; an 11-year low.

A gradual Russian sell-off of U.S. sovereign debt began in 2011 and has intensified over the years as Washington has continued to impose sanctions against Russia. To put the massive sell-off into perspective, in 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion.

The Treasury released a list of 33 countries on Tuesday, which included the biggest holder, China, which held $1.2 trillion of US debt in May. Russia was not on the list, as there is a $30 billion threshold for inclusion on the Treasury Department’s monthly report of major sovereign debt holders. […]

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