Russia Dumps Massive Amount of U.S. Treasury Holdings—Becomes World’s Largest Holder of Gold

"The Russian government has drastically reduced their holdings of United States Treasury bonds, with Russian ownership of U.S. bonds declining from $96.1 billion in March to $48.7 billion in April—and then further reducing their holdings to just $14.9 billion in May; an 11-year low. A gradual Russian sell-off of U.S. sovereign debt began in 2011 and has intensified over the years as Washington has continued to impose sanctions against Russia. To put the massive sell-off into perspective, in 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion."