Bank of Russia bans gold purchases

Elvira Nabiullina
Bank of Russia governor Elvira Nabiullina

Russia’s central bank banned banks from selling gold and issued a statement that may hint at tensions with a decree issued by president Vladimir Putin.

The Bank of Russia issued a short statement today (March 15) saying it had immediately suspended all purchases of gold from credit institutions. It said it was doing so “in order to create conditions to meet the demand of the population”. The statement said “the demand from the population for the purchase of physical gold bullion has increased

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