Russia and China give up US bonds
12:36 - 01/02/2019
Information / Baghdad ..
China and Russia have cut their holdings of US government debt, while Saudi Arabia has left the list of top 10 US bondholders, data released by the US Treasury Department on Thursday showed.
China's holdings of US Treasuries reached $ 1.21 trillion in November, down from $ 1.138 trillion in October.
Still, China remains the largest holder of US Treasury bills and bonds outside the United States, followed by Japan at $ 1,036.6 billion.
Besides China, Russia cut its investment in the bonds last November by $ 1.8 billion to $ 12.8 billion.
This comes as part of a plan to move away from the dollar under Washington's sanctions policy against Moscow, which in April and May reduced its holdings of these bonds from $ 96 billion to $ 15 billion.
Treasuries are a means of raising funds from countries and institutions, repayable by the US government at maturity, which varies by bond. US bonds are attractive for low risk of default, which explains their low interest rates. Interest rates