Russia Sells 62 Tonnes of Gold as Budget Deficit Soars - Oj - Odessa Journal
Russia Sells 62 Tonnes of Gold as Budget Deficit Soars - Oj - Odessa Journal
Source: Odessa Journal
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DW NOTE
Russia sold 62 tonnes of gold in a single quarter — roughly $11 billion at current prices — while running a budget deficit large enough to require liquidating strategic reserves. The central bank's gold hoard has been the backstop for sanctions evasion and import financing since 2022. When you're selling that much metal while crude trades above $100, the deficit isn't a line item problem, it's a solvency warning.