In October, Russian investors reduced investments in American government bonds to $31 million from $73 million in the previous month, the press service of the US Treasury reports. The department cited statistics according to which the Russian portfolio in mid-autumn amounted to $28 million in long-term securities and $3 million in short-term ones.
However, in September the indicators were very different. According to the ministry, in the first month of the season, the portfolio amounted to $61 million in long-term securities and $12 million in short-term ones.
Earlier, foreign analysts reported that Western banks’ investments in Russia had fallen to levels last seen before the collapse of the Soviet Union. Sanctions are restricting business and the West is losing ground to Chinese lenders, who are benefiting from a surge in the share of yuan-denominated trade. At the same time, Chinese organizations act “as an anchor of stability and a mediator in foreign trade.”
Raiffeisen Bank International AG analysts estimate that banks from Europe and the United States will have less than $60 billion in Russia this year, compared with about $40 billion in the late 1980s and $10 billion at the beginning of this decade.
It was previously reported that there were fewer unprofitable banks in Russia, but they worsened their financial results. Based on the results of three quarters of 2023, their losses increased by 10%, to almost 34 billion rubles. In 2023, the Central Bank did not revoke a single license.