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I was reading that the USA and western allies were placing hard sanctions on key sectors of the Russian economy yesterday. Maybe the USA wants to supply Europe with energy. Even with the sanctions it looks like Russia has significantly increased its gold holdings.
http://www.zerohedge.com/news/2014-0...nnes-gold-june
http://www.zerohedge.com/news/2014-0...nnes-gold-june
Russia, Kazakhstan, Kyrgyzstan and Tajikistan Buy Gold - Bye Bye Petrodollar
Russia continues to aggressively accumulate gold reserves. Its gold holdings increased again in June as the crisis in the Ukraine and relations with the West deteriorated.
The Russian central bank officially increased its gold holdings by 16.8 tonnes to 1,094.8 tonnes in June, the IMF's International Financial Statistics report showed. In ounce terms, Russia increased its gold holdings by some 500,000 ounces, to 35.197 million ounces in June from 34.656 million ounces in May.
Russia continues to aggressively accumulate gold reserves. Its gold holdings increased again in June as the crisis in the Ukraine and relations with the West deteriorated.
The Russian central bank officially increased its gold holdings by 16.8 tonnes to 1,094.8 tonnes in June, the IMF's International Financial Statistics report showed. In ounce terms, Russia increased its gold holdings by some 500,000 ounces, to 35.197 million ounces in June from 34.656 million ounces in May.