BRICS member Russia has dumped $4.5 billion in U.S. bonds over the last two years. After the U.S. pressed sanctions on Russia in February 2022 for invading Ukraine, the Central Bank offloaded $30 million worth of bonds. The dump in 2022 was just a start and the country has been steadily offloading U.S. debt in the market.
Also Read: 10 U.S. Sectors To Be Affected if ASEAN Ditches the Dollar
The latest data shows that BRICS member Russia dumped a total of $4.5 billion in U.S. bonds in two years. The sell-off stands in line with the BRICS agenda of de-dollarization and cutting ties with the U.S. economy. The move adds pressure on the U.S. dollar if developing countries begin distancing themselves from the American economy.
Read here to know how many sectors in the U.S. will be impacted if BRICS ditches bonds and the dollar for trade. The development could lead to hyperinflation in the U.S. making the prices of daily essentials…
