Why Russia Is Desperately Selling Off Its Gold - Paul Warburg

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1. Russia's Central Bank Starts Selling Physical Gold From Reserves

Putin has destroyed the Russian military and the Russian economy

Russia’s Central Bank Starts Selling Physical Gold From Reserves

https://www.newsbeep.com/uk/274102/

Russia’s Central Bank has for the first time begun selling physical gold from its reserves as part of Finance…

— (@uk-nb.bsky.social) 2025-11-20T19:12:08+00:00

https://www.themoscowtimes.com/2025/11/20/russias-central-bank-starts-selling-physical-gold-from-reserves-a91192

Russia’s Central Bank has for the first time begun selling physical gold from its reserves as part of Finance Ministry operations to fund the state budget, the Bank said on Wednesday.

The move mirrors previous transactions involving gold from the National Wealth Fund (NWF), which until now were largely virtual. In those operations, the government sold gold to the Central Bank, keeping bullion in the country’s reserves.

Russia’s gold holdings exceed 2,300 tons, the fifth-largest reserves in the world.

“With domestic gold market liquidity having increased in recent years, the Bank of Russia now conducts equivalent operations on the domestic market not only through yuan transactions but also partially through gold,” a Central Bank spokesperson told Interfax.

The Bank did not disclose the timing or size of the sales.

The NWF held 405.7 tons of gold before the full-scale invasion of Ukraine.

The Finance Ministry has since sold 57%, or 232.6 tons, to cover budget shortfalls, leaving 173.1 tons as of Nov. 1.