Excerpt from CNN Wire article, Russia plans to sell more US debt in response to sanctions
CNN’s Emma Burrows and Judith Vonberg contributed to this report.
The Russian government might not be done selling off US debt.
Finance Minister Anton Siluanov told Russian state television network Russia One on Sunday that Russia will continue decreasing holdings of Treasuries in response to sanctions.
Between March and May, Russia’s holdings plummeted by $81 billion, representing 84% of its total US debt holdings.
The most recent round of American sanctions on Russia came in response to the poisoning of former Russian spy Sergei Skripal and his daughter in the UK earlier this year.
…[R]isk is that China or another country weans itself off US debt by slowing its purchases and waiting for existing Treasuries to mature.
“Gradualism could have a long-term impact on the United States. But that would be a patient policy that would not reveal itself easily,” said David Kotok, chairman of Cumberland Advisors.
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