Rich Russians Buy Up U.S. Treasuries That Kremlin Doesn’t Like
- Citibank says its wealthy clients have been buying U.S. debt
- Russian central bank sold more than $100 billion of Treasuries
Photographer: Andrey Rudakov/Bloomberg
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Russian President Vladimir Putin’s moves to ditch dollar assets in the face of deepening tensions with the U.S. don’t seem to be making much of an impression on the nation’s rich.
While the Russian central bank has cut its Treasury holdings to a 12-year low since 2018, Citigroup Inc.’s wealthy clients in Moscow have been shifting money into U.S. debt.