Russia China dumping US treasuries
BEIJING- Moscow and Beijing have cut their holdings in US Treasury securities. Russia sold $5.3 billion in January and has sunk to 16th place of the largest holders of American debt.
It is the lowest level for the country since February last year.
*“We absolutely do not hold American securities exclusively. The main thing is that these securities should be liquid. So should be the state that issued them,”*said Russian Finance Minister Anton Siluanov in an interview with NTV this week.
Russia also invests in the securities of European countries.
*“We are ready to invest in the securities issued by other sovereign states, the main thing is that they should be low-risk and accordingly bring income,”* Siluanov said.
China also sold nearly $17 billion in American bonds in January. Although Beijing is still the largest holder of US Treasuries, the total amount of Treasuries in its reserves has dropped to a minimum since July last year.
One of the largest investors in US government bonds remains the Cayman Islands. The small tax-friendly country has invested almost $242 billion in the American debt, on par with a holder as large as the United Kingdom.
The third-largest buyer of American debt is Ireland, investing $327.5 billion in US debt securities. Ireland is also considered a tax haven for American companies, and was involved in the Apple Inc. tax scandal.