Russia and De-Dollarization

Russia and De-Dollarization and Rebalancing Reserves

Russia has spent over a year of de-dollarizing and rebalancing its reserves

Russia’s Gold Reserves vs. U.S. Treasury holdings.

Russia boosted gold reserves 16% in 2014 while lowering their U.S. Treasury Holdings by nearly 30% as part of its de-dollarization strategy.

Russia added 18.7 tons of gold to its reserves in December 2014 bringing its gold reserve total to 1,207 tons (worth approximately $50 billion) and lowered its U.S. Treasury holdings to $108 billion from $140 billion a year ago.

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Russian De-Dollarization Illustrated

Russia’s de-dollarization that began before western sanctions were imposed, has accelerated. In December, Russia announced the addition of 18.7 tons of gold to its reserves bringing its total as of year end 2014 to 1,207 tons up from 1,035 tons as of year end 2013.

Russia has lowered their U.S. Treasury bond holdings from $139.9 billion as of November 2013 to $108.1 billion.

Chart showing Russian U.S. Treasury and gold reserve holdings as ov November 2013

In November 2013, Russia held nearly $140 billion in U.S. Treasury bonds and $43 billion worth of gold* (about 1,036 tons).

Chart showing Russian U.S. Treasury and gold reserve holdings as ov November 2013

In December 2014, Russia held $108.1 billion in U.S. Treasury bonds and $50.2 billion worth of gold* (about 1,207 tons).

Update May 20, 2015

russian gold vs US Treasury holdings chart

In March 2015, Russia held $69.9 billion in U.S. Treasury bonds and about $47.8 billion worth of gold in April** (about 1,247 tons).

*based on average gold price of $1300 an ounce.
**based on average gold price of $1200 an ounce

Gold In Russian Roubles

chart showing gold measured in Russian Roubles

Gold as measured in Russia Roubles is near an all time high (as of January 23).

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Further Reading:

Russia adds 600,000 ounces of gold to its reserves in December

Top foreign holders of US Treasuries

Gold Reserves By Country – Top 20

Gold Repatriation Requests (updated regularly)

Gold Supply and Demand

The Importance of Gold

Save our Swiss Gold

Russia adds 600,000 ounces of gold to its reserves in November

Russia adds 600,000 ounces of gold to its reserves in October 2014

Russia adds 1.2 Million Ounces to its Reserves in September

Russia Adds 300,000 Ounces of Gold to its Reserves in August

Russia adds 300,000 Ounces of Gold to its Reserves in July

Russia adds 500,000 Ounces of Gold to its Reserves in June

Russia Continues to Boost its Gold Reserves in May

The Smaulgld Gold Buying Guide

The West Sells Paper Gold While the East Buys Physical Gold

Gold Continues to Move From West to East

Top Foreign Holders of U.S. Treasuries

Russia, Ukraine and the Dollar

Are Russia and China Moving Against the Dollar

Gold and Silver Price Manipulation – Suspected

Gold and Silver Price Manipulation – Actual

China Hoards its Gold Production and Ramps up its Imports

Royal Canadian Mint


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