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Russia Stockpiles Gold To Cushion Adverse Effects Of U.S. Sanctions

Unic Press UK: The Russian Federation is stockpiling gold in the face of the scathing effects of the United States sanctions, the Bloomberg reports.

According to the report compiled by the Bloomberg, the Central Bank of Russia added more gold reserves last month July when compared to the record of earlier months’ this year.

The Russian central bank added 26.1 tons of gold in July 2018, reaching 2,170 tons valued at $77.4 billion [£59.9 billion] at the end of the month. This record of gold transactions in July 2018 is the largest purchase in a month since the transaction of November 2017.


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