- Aug 20, 2018 -
In recent days, Russia's first deputy prime minister and finance minister, sergei siluanov, said that the us dollar was becoming a high-risk international settlement instrument and that Russia would further reduce its holdings of us dollar assets. Russia's holdings of U.S. treasuries plunged from $96.1 billion to $14.9 billion between march and may, according to data released by the U.S. Treasury Department. Mr Siluanov also made forecasts for Russia's economy, predicting gross domestic product growth of between 1.8 per cent and 2 per cent this year. Data from the federal statistics agency showed that Russia's GDP grew 1.8 percent year-on-year in the second quarter, accelerating from 1.3 percent in the first quarter.