China has sold more than $74 billion in US Treasuries in the last year, according to new numbers from the Treasury Department.
China has decreased its Treasuries holdings from $849 billion to $775 billion between the beginning of Q2 2023 and Q2 2024, reaching its lowest holdings since 2009.
Other countries let go of small amounts of Treasuries holdings over the last quarter, with India selling $1.4 billion, Brazil unloading $1.2 billion, and Saudi Arabia shedding $0.3 billion.
The new data come as Russia’s Foreign Minister Sergei Lavrov says Russia and China have almost completely stopped using the dollar in their mutual trade.
According to Lavrov, more than 90% of settlements between the countries are now carried out in their own national currencies, with their economic cooperation accelerating “despite persistent attempts by Western countries to prevent this,” as per Bloomberg.
Lavrov said last year that CIS…
