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Russia will continue to limit the share of assets denominated in currencies from "unfriendly" states in its National Wealth Fund (NWF), the Russian Finance Ministry said Friday in a statement.
According to the statement, the share of the Chinese yuan in the NWF will be doubled from 30 percent to 60 percent, and the share of non-cash gold will increase to 40 percent, as part of the NWF's newly approved regulatory asset structure.
At the same time, Russia will fully remove the dollar assets from its wealth fund, and reduce balances in the British pound and Japanese yen to zero.
These changes will better adapt the currency composition of the NWF to the challenges facing Russia in the current macroeconomic and geopolitical climate, the ministry said.
(Cover photo via CFP)
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466