Russia's central bank adds 1 mln oz of gold since start of Ukraine war - data
March 23 (Reuters) -Russia's central bank has increased its holdings of gold by one million troy ounces since the start of the war in Ukraine, data published by the central bank on Wednesday showed.
Western sanctions, imposed shortly after Moscow invaded Ukraine, froze about half of Russia's gold and forex reserves and hit the country's main banks which used to be the main buyers of Russian miners' gold, prompting producers to search for new export routes to Asia.
In October, the local association of Russian gold miners called for the government to support the industry with more active purchases, though the central bank rebuffed the calls, saying it saw no need to raise its gold holdings within its reserves.
This week the bank said its gold holdings stood at 74.9 million troy ounces as of March 1, 2023, worth some $135.56 billion - up from 73.9 million ounces on Feb. 1, 2022, when it last disclosed such data.
Russia's central bank and other government departments stopped publishing swathes of data after the West hit Moscow with a package of unprecedented sanctions over the invasion of Ukraine.
In dollar-terms, the bank's gold holdings were up 2.5% over the 13-month period, according to the bank's calculations. Gold accounted for 23.6% of the bank's $574.2 billion total reserves.
Western countries froze about $300 billion - almost half of Russia's reserves at the time - that were held in their jurisdictions at the start of the conflict in a move which few in Moscow predicted the West would make.
Locked out of the dollar and euro, Russia has shifted towards the Chinese yuan as a reserve currency over the last year.
Reporting by Jake Cordell and Polina Devitt, Editing by William Maclean
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。