US and partners will nit exchange Russia’s IMF SDR reserves


A US official said on Friday that the US was committed to taking all measures to prevent Russia from benefitting from its holdings of IMF Special Drawing Rights (SDR) reserves and that the US and its partners would not exchange Russia’s SDR reserves, reported Reuters. Even if Russia  were to exchange its SDRs for currencies, the official continues, those would be “effectively immobilized” due to sanctions on the Russian central bank.