- Joined
- Mar 6, 2018
- Messages
- 61,436
- Reaction score
- 486,012
Senators seek to freeze Russian gold reserves
Today, Russia holds $130 billion in gold reserves in the country and is able to exploit a loophole in the existing sanctions targeting its central bank by allowing government officials and oligarchs to launder money through gold, according to the senators.
Due to this loophole, the Russian Federation is now buying gold to offset the devaluation of the ruble and then selling that gold on international markets in exchange for high-value currency, the senators said.
Today, Russia holds $130 billion in gold reserves in the country and is able to exploit a loophole in the existing sanctions targeting its central bank by allowing government officials and oligarchs to launder money through gold, according to the senators.
Due to this loophole, the Russian Federation is now buying gold to offset the devaluation of the ruble and then selling that gold on international markets in exchange for high-value currency, the senators said.