Russia
will likely continue lowering its U.S. debt holdings as Washington struggles to
contain a budget deficit and bolster a tepid economic recovery, a top aide to
President Dmitry Medvedev said Saturday.
"The
share of our portfolio in U.S. instruments has gone down and probably will go
down further," Arkady Dvorkovich, chief economic aide to the president said.
Russian
holdings of U.S. Treasury securities fell to $125.4 billion in April 2011 from
$176.3 billion in October 2010, Treasury Department data showed.
Russia's
financial reserves -- which stood at $528 billion as of June 10 -- are the
world's third largest, after China and Japan's. As of May, according to Russia's
central bank, 47% of reserves were in dollars and 41% in euros, compared with
45.2% in dollars
and 43.1% in euros on Jan. 1. WSJ
ARA/KA/DB
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