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Russia to remove euro, only keeps yuan and gold in National Wealth Fund
Russia's finance ministry said will reset the share of euro in its National Wealth Fund (NWF) starting from this year, leaving only gold, Chinese yuan and rubles, Russian media reported on Thursday.
It not only means the drastic change to Russia's sovereign reserve structure as a strategic power, but also directly promotes the internationalization of yuan to a higher level, analysts claimed, noting that such move will also result in further de-dollarization.
"If the question is whether the euro will be reset, then it will definitely be reset this year," Vladimir Kolychev, Russia's deputy finance minister, was quoted as saying.
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