Russia Will Remove Dollar From Its Wealth Fund

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  • Bloomberg Markets and Finance published this video item, entitled “Russia Will Remove Dollar From Its Wealth Fund” – below is their description.

    Jun.03 — Russia said it will shift to euros, yuan, and gold as it eliminates the dollar from its $119 billion wealth fund. Marvin Barth, FX and emerging market strategy head at Barclays, discusses the move on “Bloomberg Surveillance.”

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    In This Story: Russia

    Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.

    Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.

    The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.

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