Russia Sells 71% of Sovereign Gold Reserves to Fund Ukraine War

The National Wealth Fund of Russia reports a major reduction in gold holdings aimed at financing the country’s ongoing military operations in Ukraine.

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Terms & Concepts
  • National Wealth Fund (Russia): A state-owned investment fund used to support Russia’s budget and economic stability, often financed by oil and gas revenues.
  • Sovereign gold reserves: A nation’s official gold holdings held by its central bank or government for financial stability and monetary policy support.
  • Ukraine war effort: Refers to Russia’s ongoing military operations and financial expenditures related to the conflict in Ukraine.