Russia's Finance Ministry is ready to invest petrodollars in the U.S. crisis

Investment Finansy26-02-2008 Russia's Finance Ministry is ready to invest petrodollars in U.S. crisis Ministry of Finance allowed to invest the Reserve Fund and National Wealth Fund (which will now accumulate windfall from oil exports) in the U.S. mortgage-state companies. It looks very risky due to the world credit crisis, which started just with the collapse of the U.S. mortgage market. According to the approved list of the Ministry of Finance, 15% of the reserve fund and the national welfare, or more than $ 20 billion in 2008 can be invested in bonds of 15 American and European development institutions approved list of the Ministry of Finance. The list of issuers of securities of Fannie Mae and Freddie Mac, formally the U.S. private mortgage agencies, which buy from the banks portfolios of mortgages and release them under the mortgage-backed securities. Recall, from February 1 this year, the Stabilization Fund of Russia ceased to exist. It means moved to the Reserve Fund ($ 125.4 billion) and the National Welfare Fund ($ 32 billion). The problem the Ministry of Finance - as they keep a lot of money from devaluation, but the maximum guarantee their safety. Thus, the policy of placing Stabilization Fund was so conservative, that many observers have urged the government more actively manage the excess profits of oil.