Russian Finance Ministry Accelerates De-Dollarization with Massive Gold Buy Russia is significantly increasing its gold purchases, leveraging a surge in oil and gas revenue to diversify its financial reserves and reduce dependence on the US dollar. The Russian Finance Ministry plans to allocate 172.9 billion rubles ($1.9 billion) for foreign currency and gold purchases over the next month, representing a sevenfold increase in daily purchases. This move is part of Russia’s ongoing strategy to strengthen the link between the ruble and gold, creating a new gold standard and insulating its economy from US dollar transactions. As the world’s second-largest gold producer, Russia is well-positioned to accumulate the precious metal, with this latest announcement indicating a more aggressive approach to gold acquisition in the coming months. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Yellen Says She Regrets Saying Inflation Was ‘Transitory’ READ MORE Gold Expected to Shine Amid Uncertainty: World Gold Council at BMO Conference READ MORE Flat Treasury Yields Reflect Investor Caution Amid Varied Economic Reports READ MORE Argentina's Inflation Eases in Milei's Debut Month Amid Economic Overhaul READ MORE Bank of Japan Eyes Policy Shift: Ending Negative Rates READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment