Economics
Putin Hedges Trump Bet by Dumping Treasuries to Safeguard Assets
- Russia learned from Iran’s experience, ex-central banker says
- Sell-off started the same month new sanctions were imposed
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Russian officials are hoping Vladimir Putin’s rapport with Donald Trump will lead to rapprochement with the U.S. But they’re not taking any chances.
A U.S. Treasury report this week appears to show Russia liquidating dollar assets at a record pace, selling four-fifths of its cache of U.S. government debt, $81 billion worth, over a two-month period. It started in April, when the U.S. imposed the most onerous sanctions yet on allies of Putin.