Siluanov: it is more expedient to keep reserves in gold, yuan and currencies of friendly countries

In the current situation, it is advisable to create reserves in gold, Chinese yuan and currencies of other friendly countries, said Russian Finance Minister Anton Siluanov in an interview with Russia 24 TV channel for a film dedicated to the 220th anniversary of the country’s Ministry of Finance.

“Certainly, the role of the yuan in reserves will also grow. Therefore, in the current conditions, I think that if you create reserves and keep money in gold and foreign exchange reserves, then first of all, of course, this is gold, this is the yuan, but also a number of other currencies of friendly countries, ”said Siluanov (quote according to TASS).

According to the minister, reserves are usually formed in the currencies of those countries with which there is active trade, and now the Ministry of Finance is recording an increase in trade volumes with China.

Earlier, Deputy Minister of Finance of Russia Alexei Moiseev in an interview RBC declaredthat the yuan, dirham and other currencies are seen as alternatives to the “toxic” dollar and euro.

During his speech at the plenary session at the Eastern Economic Forum (WEF) September 7, President Vladimir Putin notedthat the Russian Federation is trying to get away from settlements in an unfriendly currency, in connection with which Russia and China will use the ruble and yuan in equal proportions when paying for gas – on the adoption of such a decision a day earlier reported oil and gas companies of the countriesGazpromand CNPC.

In early September, Bloomberg reported about the plans of the Central Bank to buy $70 billion this year in yuan and other “friendly” currencies to slow down the growth of the ruble. Same day in the regulator declaredthat the use of currencies of countries friendly to Russia for settlements and storage of assets is much safer, since the likelihood of their joining Western sanctions is low.