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1/14/19

Russia-Economy: Russia ditches dollar, opts for euro and yuan

A report by the Bank of Russia published late on Wednesday (9 January) reveals that the country dumped $101 billion in US holdings from its reserves, shifting into euros and yuan last spring amid a new round of US sanctions.

According to Bloomberg who broke the news, the report reveals a dramatic acceleration in a policy Russia has been pursuing for several years of reducing exposure to assets that could be affected by US sanctions.

Read more: Russia ditches dollar, opts for euro and yuan – EURACTIV.com

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