ST. PETERSBURG (TASS): Russia plans to fully abandon the US dollar in the structure of the National Wealth Fund (NWF) and reduce the share of the British pound within a month, Finance Minister Anton Siluanov said on the sidelines of the St. Petersburg International Economic Forum on Thursday, adding that the share of gold, euro and yuan will rise, whereas the share of Japan’s yen will remain unchanged in the NWF.
“We, same as the Central Bank, have decided to reduce the funds of the NWF invested in dollar assets. Today’s structure has around 35% of the NWF’s funds invested in dollars. We have decided to fully withdraw from dollar assets, replacing investments in dollars by an increase in the euro, in gold,” he said, adding that the shift to a new structure of the NWF is expected within a month.
“[Investments] in dollars will equal 0%, in euro – 40%, in yuan – 30%, in gold – 20%, in pound and yuen – 5% each. We have replaced dollars by an increase by 5% in euro, gold and yuan,” the minister explained.
