Jan 3, 2023
Russia’s making some big moves heading into the new year with its relationship with China. We know that the two are getting closer and closer in strengthening the tie/relationship between them. But Russia’s sovereign wealth fund just made a move to strengthen this even more. Their finance ministry just doubled the amount of one and goal that it can hold in the National Wealth Fund.
Prior to this move, the maximum amount of the Chinese currency that Russia could hold in this fund was 30% of the fund’s worth. Now that is doubled to 60%. This follows a long line of increasing the amount that Russia reserves holds in one over the last decade.
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