Russia has overtaken China in gold reserves, despite cheap oil
Kyiv, February 09 (PolitNavigator, Vladimir Raichenko) – Russia, despite the fall in oil prices and the devaluation of the ruble, continues to increase its gold reserves.
The influential German business newspaper Die Welt writes about this, which is quoted by the Kiev magazine “Correspondent”.
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“Anyone who wants to understand how Russians act in times of crisis should only look at the data on gold purchases,” the German publication points out. – The Kremlin continues to increase its gold reserves. According to the IMF, the Russian central bank's gold reserves increased by another 19 tons to a total of 1.206 tons. Despite the ruble crisis, falling oil prices and dwindling foreign exchange reserves, Moscow is purposefully buying gold and today has the most significant reserves by far collapse of the Soviet Union. Last year, this country even overtook China in terms of the amount of precious metal.”
Russia has surpassed China in gold reserves despite cheap oil.