RELATED UPDATE (April 28): The Biden Administration has requested $33 billion more for Ukraine.
Israel decided now is a good time to cut US Dollar holdings to make room for the Chinese yuan, Japanese yen, as well as the Canadian and Australian dollars.
CHANGES TO ISRAEL’S $206 BILLION RESERVES
- US Dollar: 66.5% to 61%
- Euro: $30.8% to 20%
- Pound: $2.7% to 5%
NEW ADDITIONS
- Yen: 5%
- Canadian Dollar: 3.5%
- Australian Dollar: 3.5%
- Yuan: 2%
Israel has not joined the sanctions effort against Russia, most likely because Russia allows the Israeli Air Force to target Iranian convoys crossing Syria to deliver weapons and ammunition to Hezbollah in the south of Lebanon.
“It is so important for us that Russia turns a blind eye to what we have been doing in Syria, acting against the transfer of weapons, the entrenchment of the Iranians.”
Orna Mizrahi, former Israel deputy national security adviser
Also, Israel might need to save cash for investing in new spy technology, now that the world is catching on to the Israeli-government linked NSO Group’s Pegasus spyware. Plus their chief blackmailer was hung from a doorknob.
Graphic sources:
Aid to Ukraine since Russian invasion
