Russia to convert around $40 bln from National Wealth Fund, says Accounts Chamber head

Russia will have to convert around $40 bln from the National Wealth Fund (NWF) as part of withdrawal from dollar assets, Head of the Accounts Chamber Alexei Kudrin said in an interview with TASS, adding that it is a small sum easy to abandon. “In this case $40 bln nominated in the currency is a small sum of money, which is easy to abandon and replace with other assets,” he said. “In this respect conversion into other currencies is a technical operation that does not reduce the quality of our assets and reserves,” Kudrin added. The Head of the Accounts…