Russia Boosts its Gold Reserves Further

Russia Boosts its Gold Reserves

Russia continues to add to its gold reserves in its efforts to de-dollarize.

Buy Gold Online

JM Bullion

Russia Boosts its Gold Reserves

Russia adds another 300,000 oz. (9.3 tonnes) of gold to its reserves in the last month.

Live Gold Price

Russia has been increasing its gold reserves at a rapid pace in recent years. It’s no secret Russia (and China) is on a mission to reduce and perhaps eliminate its reliance on the U.S. dollar. Russia’s move to do so has been accelerated by the situation in Ukraine. The United States has imposed financial sanctions against Russia to retaliate against what they see as Russian aggression in Ukraine.

Russia has responded with three initiatives designed to avoid the impact of the U.S. sanctions by reducing its reliance on the U.S. dollar:

-reducing its U.S. Treasury reserve holdings;

-conducting more non dollar trade. To that effect Russia is working on a non dollar oil deal with Iran and has signed a long term gas deal with China; and

-adding to its gold reserves.

The chart below shows the progress Russia is making in increasing their gold reserves:

Russia adds to its gold reserves while decreasing its U.S. Treasury reserves

Russia continues to add to its gold reserves

Get Free Updates From

Subscribe to and get the free In Case You Missed Itweekly email as well as updates and analysis on gold, silver, real estate and the economy.

Also get the free report “Twelve Key Differences Between Gold and Silver” when you subscribe.

Buy Gold And Silver Coins

Further Reading:

Russian Gold Reserves (monthly archive)

The Smaulgld Gold Buying Guide

Gold Reserves By Country – Top 20

Top Foreign Holders of U.S. Treasuries

Are Russia and China Moving Against the Dollar

Gold and Silver Price Manipulation – Suspected

China Hoardes its Gold Production and Ramps up its Imports

Russia and China move to de-dollarize; switch to Yuan

Russia and China join forces to de-deollarize

Russia signs oil deal with Vietnam

Royal Canadian Mint

Please visit the Smaulgld Store for a larger selection of recommended Kindles, books, music, movies and other items.

Or you can support by making purchases from our affiliates or by making all your Amazon purchases through the search widget below:

Buy American Gold Buffalo Coins

*DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.

The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.

The information contained herein does not constitute legal, tax or investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.

Post Navigation