The Russian Ministry of Finance has approved the regulatory entity structure of the National Welfare Fund (NWF). This was stated in the press service departments.
“A new regulatory structure for the National Welfare Fund’s permitted foreign exchange and gold holdings has been approved,” the report says.
As stated by the Ministry of Finance, the possibility of investing NWF funds in US dollar assets is now completely eliminated.
“Maximum shares are capped as follows: Chinese yuan – 60%, non-cash gold – 40%,” the press service said.
Prior to that, the shares of yuan and gold were 30% and 20%, respectively. Currently, balances on NWF accounts in Sterling and Japanese Yen with the Central Bank of Russia have been reset.
Former Finance Minister of the Russian Federation Anton Siluanov declarationThat from 2023, the Russian Wealth Fund can begin to be replenished with Chinese yuan.
Source: Gazeta
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