Russia desires to scale back the US greenback share in its Nationwide Wealth Fund, because it appears to put money into the Chinese language yuan and different foreign currency echange, Deputy Finance Minister Vladimir Kolychev has introduced. ...

The actual driver behind the rise of gold costs is the world’s central banks’ shopping for spree, says Peter Schiff of Euro Pacific Capital. ...

Whereas the US is sanctioning nations and inflicting them to shift away from the greenback, Russia and China proceed boosting commerce and their gold reserves, says Dmitry Orlov of well-liked Membership Orlov weblog. ...

The US greenback’s standing because the world’s main reserve foreign money, which it held for many years, might come below risk, in keeping with Anne Korin from the Institute for the Evaluation of International Safety. ...

Russia’s largest oil firm Rosneft has already accomplished the change away from the US greenback in an effort to attenuate its publicity to US sanctions. ...

Additional turning away from the buck, Russia is eyeing the yuan and the euro as currencies for Eurobonds subsequent 12 months, Russian Finance Minister Anton Siluanov has mentioned on the sidelines of an IMF and World Financial institution assembly. ...

Russia is planning to desert the US greenback in favor of euro and rubles for forex settlements in international power transactions to be able to reduce reliance on the American forex. ...

The Russian Direct Funding Fund (RDIF) has introduced plans to implement new tasks and ink agreements with Saudi corporations throughout President Vladimir Putin’s go to to Saudi Arabia subsequent week. ...

Moscow and Ankara inked an settlement on utilizing Russian rubles and Turkish lira in mutual funds and settlements, the Russian Finance Ministry introduced on Tuesday. ...

Russia’s largest oil firm Rosneft has set the euro because the default forex for all new exports of crude oil and refined merchandise. ...