95
submitted 1 week ago* (last edited 1 week ago) by MrMakabar@slrpnk.net to c/ukraine@sopuli.xyz

To be clear it is not hold in $, but in RMB, gold and rubel. Before the war in held $174billion, so a massive decrease.

you are viewing a single comment's thread
view the rest of the comments
[-] partial_accumen@lemmy.world 3 points 1 week ago

Gold is very near its all-time high. It just set a new all-time high about a week ago

But for russia to sell to someone else that requires trade with a heavily sanctioned country. That's a quick way to get on the "naughty list" and have sanctions applied to yourself too.

[-] NateNate60@lemmy.world 1 points 1 week ago

Gold is nothing if not something that can be easily and efficiently smuggled. The gold can be simply re-cast into generic gold bars or minted into back-dated Russian bullion coins. Just one passenger car can smuggle millions of dollars of gold across the border while attracting little scrutiny. From then, it can simply be easily sold to bullion dealers. Then the cash can be ferried back across the border or deposited in accounts at Kremlin-friendly banks.

If you have a network of agents doing this, you could probably offload thousands of ounces worth millions of dollars a month.

There's also the simple option of sending it all to a shady Chinese commodities exchange.

this post was submitted on 05 Sep 2024
95 points (99.0% liked)

Ukraine

8045 readers
495 users here now

News and discussion related to Ukraine

*Sympathy for enemy combatants in any form is prohibited.

*No content depicting extreme violence or gore.


Donate to support Ukraine's Defense

Donate to support Humanitarian Aid


founded 2 years ago
MODERATORS