The Russian Ministry of Finance has approved a new regulatory structure for the Russian National Welfare Fund. Accordingly, NWF funds are prohibited from investing in US dollar assets. It, Messages on the ministry’s website
We continue to constantly reduce the share of currencies of “unfriendly” states in the structure of the assets of the National Welfare Fund. The maximum shares allowed to be invested from the fund assets have been approved. The share of the Chinese yuan will be 60%, and the share of non-cash gold will be 40%. Previously, the shares of the yuan and gold were 30 percent and 20 percent lower, respectively.
Former Finance Minister of the Russian Federation Anton Siluanov declarationFrom 2023, the NWF can begin to be replenished with Chinese yuan. According to the minister, the Chinese yuan is viewed as a friendly currency and has more reserve currency characteristics than any other.
Later, the newspaper “Vedomosti” reportedThat the Ministry of Finance plans to increase the maximum share of the yuan in the currency structure of the National Wealth Fund to 80%, and non-cash gold – up to 40%.
Source: Gazeta
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