G7 to crack down on Russia’s ability to sell its gold

Financial Times/James Politi and Sam Fleming/3-24-2022

photo of stacks of gold at Bank of England gold room“G7 leaders have agreed to crack down on Russia’s ability to sell its gold reserves to support its currency as they launch a new effort to hinder any attempts by Moscow to evade financial sanctions imposed by the west.”

USAGOLD note: Not sure what impact this G-7 effort will have on market thinking, if it has any at all. Russia has not indicated a willingness, at this juncture, to put its gold on the market.

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