Brian McDonald
@BrianMcDonaldIE
Irish. Long time Russia-based journalist. Interested in facts and objectivity. Not interested in ideology or wishful thinking.
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This is disinformation (or at best grossly misleading framing). Russia did not “sell 71% of its sovereign gold reserves.” The 71% figure refers only to gold held in the National Wealth Fund, which was drawn down to cover budget deficits and avoid borrowing.
Moscow’s actual sovereign gold stockpile is held by the Central Bank (over 2,300 tons). And thanks to rising gold prices, the value of Russia’s reserves has increased massively since 2022.
By over $216 billion, according to Bloomberg.
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