Russia will reduce the share of US dollar in its national welfare Fund and considering investing in foreign currencies, including Chinese yuan, said Wednesday the Deputy Finance Minister of Russia Vladimir Kolychev.
According to him, next year will enter into force changes in the structure of the national welfare Fund, which is part of sovereign reserves of Russia.
"I can confidently say that the share of US dollar is less", - said Kolychev reporters. "Discusses the different currencies ... including the yuan".
Russia intensified the process of de-dollarization to reduce its dependence on the U.S. dollar, when Western countries began to impose sanctions against Moscow in 2014.
Kolychev said the move was partly designed to protect the Russian reserves from external risks, but did not give any indication of how drastically reduced the dollar's share in the national wealth Fund.
"the Geopolitical risks are a key factor in determining the structure of the national welfare Fund", - he said.
Kolychev added that the Ministry of Finance is trying to bring the structure of the national welfare Fund to the structure of currency reserves of the Central Bank, where the share of the Euro accounts for more than a dollar.
According to the Ministry of Finance, at the end of September, the national welfare Fund had a 45.5 billion U.S. Dollars, 39,17 billion Euros and a 7.67 billion Pounds.
