OREANDA-NEWS US foreign exchange reserves are toxic, and the role of the dollar in everyday financial transactions is declining, Russian Deputy Foreign Minister Alexander Pankin told reporters.

"In 2022, about $400 billion was withdrawn from the US treasury, including by China, Japan, Brazil, Switzerland, Hong Kong, Singapore, Korea, Norway, Norway, Israel, Indonesia," Pankin said. He noted that this is not a group of countries that are friends of Russia. "Some of them took steps that we regard as hostile," the diplomat said. Pankin also said that gold purchases "really increased."

"Turkey has tripled its gold reserves. The Bank of Israel reduces the reserves of the dollar and euro - China, Singapore, Malaysia, Hong Kong, Chile," said the Deputy Foreign Minister of the Russian Federation.

"This trend only demonstrates that the US dollar, being strong, becomes toxic for everyday operations," he stressed.
According to him, this is probably not a mass trend, but, as Pankin believes, "it can become a mass trend."