U.S. Treasury Data Show Russia’s Holdings in U.S. Government Bonds Declined in December 2022
Official figures from the United States Department of the Treasury indicate a noticeable shrinkage in Russian investments in U.S. government bonds during December 2022. The total reached 629 million dollars, a drop of more than threefold from the prior month. This decline follows a period of elevated activity in the spring and autumn of the previous year, reflecting shifting risk assessments and sanctions-related adjustments in portfolio allocations.
In the months leading up to December, Russia held approximately 2.092 billion dollars in U.S. government securities in November, about 2.034 billion dollars in October, and roughly 2.015 billion dollars in September. Since March, the level of Russian exposure to U.S. Treasuries has hovered just above the two-billion-dollar mark, signaling a sustained but fluctuating presence in the market amid ongoing sanctions and geopolitical tensions.
Earlier data show that February 2022 saw Russian holdings in U.S. government bonds totaling 3.753 billion dollars, underscoring a significant change over the subsequent months as sanctions intensified and global financial flows adjusted.
Breakdowns within December reveal long-term Russian investments in U.S. bonds totaling 104 million dollars, an increase from 80 million in November. Short-term holdings stood at 525 million dollars for December, compared with 2.012 billion dollars in November, highlighting a shift toward shorter-dated instruments amid market volatility and policy developments.
In related policy developments, discussions tied to price caps on oil products derived from Russia were described by a former U.S. Treasury official as a key milestone in coordinated sanctions efforts. The framework involves the G7 nations, Australia, and the European Union, and is positioned as a strategic tool to influence Russia’s revenue while aiming to minimize unintended global economic impacts.
Market observers note that the observed changes in Russia’s holdings align with broader shifts in risk appetite among central banks and institutional investors across North America, Europe, and allied economies. Analysts in Canada and the United States emphasize close monitoring of sovereign debt portfolios as sanctions landscapes evolve and as global energy markets respond to policy signals from major blocs.