The Bank of Russia does not hold US treasury bonds. Several Russian news agencies reported this, citing the regulator.
“We do not buy these papers. “Only the U.S. Treasury can comment on the volume of investments made by various countries in these securities.” reported In the press service of the National Bank of RIA Novosti.
U.S. Treasury in early November 17 published From these data, it is understood that the volume of Russia’s investments in US government bonds increased from $31 million in August to $73 million in September. The statistics take into account both public and private investments.
Artem Tuzov, head of the corporate finance department of the investment company IVA Partners, in a conversation with RBC suggestedthese could be “direct accounts with American brokers,” he said.
“Oddly enough, citizens and companies of the Russian Federation continue to do business there quite comfortably. If you look at the data on Russian investments in UST (US government bonds) announced by the US Treasury, you can see that they have almost completely decreased since 2022. Various “technical” purchases may be made for securities exchange with foreigners. And perhaps these will increase further, as foreign exchange payments for such transactions are now limited. With the volumes discussed, private investors could not buy anything. This is clearly a large capital. However, purchasing UST for investment purposes makes sense at the current Fed rate. Tuzov said that people with more than one passport can invest thinking that the sanctions will not affect them.
People in Russia like the dollar a little less
“Vedomosti” to writeHe said that the Central Bank of the Russian Federation, against the background of the next anti-Russian sanctions, began selling American government bonds in April 2018.
“Volumes that month dropped by almost half, from $96 billion to $48.7 billion, and in May to $14.9 billion. By February 2020, this figure had fallen to $12.58 billion,” the publication recalls.
“We will not make a sudden move, we will not give up the dollar in any way. “We are implementing this and will implement it to the extent that the US financial authorities do not interfere with the use of the dollar in settlements,” he said. aforementioned Russian President Vladimir Putin in 2018.
Putin says Russia no longer has the goal of de-dollarizing the national and global economy.
“By pursuing short-term, opportunistic political goals (the question is whether these are the right goals for US interests) they undermine their own power, including in the global financial sphere. Because using the dollar as an instrument of armed struggle, one cannot say otherwise, raises doubts about the reliability of American money both as a means of settlement in world trade and as an instrument of accumulation, a means of trade. reserves” stated Vladimir Putin will visit St. Petersburg in the summer of 2023. Petersburg International Economic Forum.
Private investors are forced to wait for compensation for damage caused to Ukraine
Regardless, Russian assets worth more than $330 billion are blocked in the West. data US Treasury Department. This is approximately half of the country’s gold and foreign exchange reserves. accepted Minister of Finance Anton Siluanov.
G7 foreign ministers meet in Tokyo on November 8 stated About the intention to freeze Russian assets until Russia pays for the damage caused to Ukraine.
“In accordance with our legal systems, we confirm that Russian sovereign assets within our jurisdictions will remain blocked until Russia compensates for the damage caused to Ukraine,” the statement said.
Russia has “moral and legal grounds” to block G7 assets in Russia. stated in response, State Duma Speaker Vyacheslav Volodin wrote on his Telegram channel.
Assets worth 1.5 trillion rubles of more than 3.5 million Russian citizens are inaccessible.