Support The Moscow Times!

Medvedev Expands Investment Options for National Prosperity Fund

The list of foreign currencies in which the multibillion National Welfare Fund can invest its assets has been expanded.

Prime Minister Dmitry Medvedev has signed a decree, authorizing the fund's managers to buy financial assets and government bonds denominated in Australian and Canadian dollars, Swiss francs and Japanese yens, in addition to the traditional reserve currencies — the U.S. dollar, the Euro and the British Pound, reported Wednesday.

The decree also gives license to invest the fund's money into Russian securities related to domestic commercial infrastructure projects, a list of which will be compiled by the Cabinet.

As of Nov. 1, the National Welfare Fund held 2.85 trillion rubles ($88.5 billion), Interfax reported.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more