For 1st time in 25 years Russia sells gold reserves
Business
For the first time in a quarter-century, Russia has dipped into its gold stash, selling 14 metric tons between January and February 2026.
This move drops its reserves to a four-year low and is all about covering the rising costs of the ongoing Ukraine conflict.
Russia's budget deficit hits 2.6% GDP
With military spending up and oil and gas money down (thanks to sanctions and low prices), Russia's budget deficit hit 2.6% of GDP last year.
Selling some of its massive gold reserves (especially with prices soaring past $5,000 an ounce) is part of a bigger plan to keep up with wartime expenses while still trying to buffer against global financial pressures.