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Russian Federation to reduce its dependence on U.S. dollars: from USD into euros, yuan and gold

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"Less than two weeks before Vladimir Putin holds his first summit meeting with President Joe Biden, Russia has announced plans to reduce its dependence on U.S. dollars, saying it will shift a third of the liquid assets in its sovereign wealth fund from USD into euros, yuan and gold to reduce vulnerability to Western sanctions."


"“Geopolitics does play a role,” Russian Finance Minister Anton Siluanov told state TV at the St. Petersburg International Economic Forum. “We’re trying to protect our investments.”"


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