The freshly released data from the US Treasury Department indicates that Russia reduced its holdings of American debt by $1.815 billion last November to $12.814 billion from October. Some $3.75 billion were invested into long-term obligations, while $9.1 billion poured into short-term ones.
The three biggest holders of US sovereign debt are China with $1.138 trillion, Japan with $1.036 trillion and Brazil with $311 billion. The data also shows that China, as the largest holder of US debt, cut its holdings to $1.12 trillion, reaching the lowest level since November 2017.
The timing of the move overlapped with the imposition of a new round of sanctions against United Co. Rusal, a Russian aluminium producer, with Russia’s Central Bank explaining that the decision was part of a plan to diversify holdings.