Russia’s finance minister says Western sanctions have frozen Russia’s 40 640 billion foreign exchange reserves to 300 300 billion.
The West has also pressured China to reduce trade with Russia and limit Russia’s Ivan (China’s currency) reserves, Anton Silvanov told Russia’s RIA Novosti news agency on Sunday.
He did not say how much of Russia’s currency is in Chinese currency (Ivan), but Russian central bank figures show that Russia is opposed to Russia’s attempt to seize the Ukrainian island of Crimea and annex it to its territory. Since the start of the Western sanctions, Russia has been paying close attention to increasing China’s reserves, which now account for 13 percent of the country’s total currency reserves.
About 20 percent of Russia’s currency reserves are gold.
Russia’s finance minister has said that Russia’s trade cooperation with China will not only decrease, but also increase.
This is despite the fact that, according to China’s customs data, Russia’s share in China’s foreign trade is 5 percent, while Europe’s and America’s share is 32 percent.
The Russian ruble has fallen 42 percent in the last three weeks due to Western pressure.
Meanwhile, dozens of Russian billionaires have flown to Israel on their private jets.
