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Russia to convert around $40 bln from National Wealth Fund, says Accounts Chamber head

In this respect conversion into other currencies is a technical operation that does not reduce the quality of our assets and reserves, Alexei Kudrin noted

Head of the Russian Accounts Chamber Alexei Kudrin Mikhail Tereshchenko/TASS

Head of the Russian Accounts Chamber Alexei Kudrin

© Mikhail Tereshchenko/TASS

ST. PETERSBURG, June 9. /TASS/. Russia will have to convert around $40 bln from the National Wealth Fund (NWF) as part of withdrawal from dollar assets, Head of the Accounts Chamber Alexei Kudrin said in an interview with TASS, adding that it is a small sum easy to abandon.

"In this case $40 bln nominated in the currency is a small sum of money, which is easy to abandon and replace with other assets," he said. "In this respect conversion into other currencies is a technical operation that does not reduce the quality of our assets and reserves," Kudrin added.

The Head of the Accounts Chamber considers abandoning the dollar a forced measure for Russia.

"The dollar is a major currency in terms of assets on the global market. It is a pity but there are sanctions-related risks and the threat of difficulties with transactions involving those assets for Russia if any systemic calculation patterns are restricted. In this respect that is a forced measure," he said.

Russia plans to fully abandon the US greenback in the structure of the National Wealth Fund (NWF), Finance Minister Anton Siluanov revealed on the sidelines of the St. Petersburg International Economic Forum.

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Marjorie Taylor Greene suggested that the Biden administration is "trying to start a nuclear war and use it as the reason to stop the transfer of power to Donald Trump"

Russia’s top diplomat slams NATO for discussions of preemptive strikes on Russia

"These claims were made by some admiral. Absolutely reckless. They have a lot of high-ranking military officials who have never even seen real battle," Sergey Lavrov stated

FACTBOX: Impact of UAV attack on Krasnodar Region

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Decision-making centers in Kiev could be targeted in Oreshnik strikes — Putin

The Russian leader also mentioned military facilities and defense industry enterprises as possible targets

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West should consider Russia’s signal on weapons, no point in discussing details — MFA

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Kiev can only produce 'dirty bomb,' Russia to give appropriate response — Putin

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Former MI6 chief says Europe at war with Russia

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Vyacheslav Negoda noted that a power shortage will remain in the region for a long time

Zelensky shook up by Russia’s response to permission to attack it — Lavrov

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Russia files terrorism charges against Ukrainian militants, reports enemy losses in Kursk

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Senators support Putin's decision to launch Oreshnik missile — speaker

Valentina Matviyenko noted that the Federation Council is willing to further support actions aimed at protecting Russia

Russia developing echeloned system for air and missile defense — expert

Alexander Stepanov pointed out that "this also applies to intermediate-range high-precision systems such as the Tomahawk and other weapons that NATO countries may provide to Ukraine"

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Erik Prince noted that it was necessary to end the Ukrainian conflict as soon as possible

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Ab Gitelink noted that Europe "needs a right-wing conservative businessman in the White House in order to put an end to the war on European territory"

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