With the prospect of new US sanctions still looming on the horizon, Russia continues to cut its reserves of US government bonds.
According to updated figures provided by the US Treasury Department, in February, Russia’s hard currency reserves currently held in US Treasuries went down by $3.1 billion and now stand at $93.8 billion, the lowest level since March of last year.
Russia still remains the world’s 16th largest holder of US government bonds. China holds the top spot with almost $1.8 trillion, trailed by Japan which has shed some of its US Treasuries.
Analysts believe that Beijing can use its vast holdings of US Treasuries as a bargaining chip in its trade dispute with Washington.
To date, the governments of the world’s leading economies have amassed about seven trillion dollars’ worth of US government bonds.