Investors from Russia and Saudi Arabia have cut their combined holdings of US securities by more than $50 billion between mid 2014 and 2015, reports the Financial Times. Over the period, Saudi Arabia reduced its holdings by $26 billion, according to an annual US Treasury survey published earlier this week. The Treasury recently unveiled the scale of Saudi buying of US government debt that had dropped by $3 billion to about $116 billion from February to March.
Russian investment in US holdings has more than halved since the 2008 financial crisis to roughly $73 billion by the end of last June. After crude prices plunged in January to $28 per barrel from $110 in June 2014, the governments of both countries had to search for alternative funding sources to balance their budgets. READ MORE