Russia to remove Dollar assets from $176bn wealth fund ahead of Geneva summit

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Kremlin had issued a statement later this week saying that the Russian National Wealth Fund having had assets worth of $176 billion as of August, 2020, would ditch out entire assets held in American currency in a move what analysts had branded as a political poker chip ahead of a Presidential US-Russia meet scheduled to take place late this month.

Nonetheless, Kremlin has been getting rid of assets held in US Dollar since Western countries had inclined sanctions on Russia following its annexation of Crimea back in the 2014s, while Moscow was reportedly seeking to parting ways from Western financial organizations after Western nations had decided to shrug it off the then-Group of eight, currently stands as the G7 or Group of Seven.

Russia to dump entire assets held in US Dollar from NWF

On top of that, following reveal of the move later this week, speaking at the St. Petersburg International Economic Forum, Russ Finance…

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