US sanctions policy against Russia undermines dollar’s reserve currency position – Goldman Sachs

US sanctions policy against Russia undermines dollar’s reserve currency position – Goldman Sachs

Washington’s aggressive policy against Moscow could be a sufficient reason behind the recent fall of the dollar’s share of global central-bank reserves, according to economist at US multinational investment bank Goldman Sachs.  Russia’s Central Bank has sold some $85 billion of its $150 billion holding of the US assets from April through June after the US Treasury Department announced new sanctions on Russian businessmen, companies and government officials, says Goldman’s strategist Zach Pandl said, as quoted by Bloomberg.