Forwarded from GJ `°÷°` 🇵🇸🕊 (t ``~__/>)
All That Glitters Is Not Necessarily Russian Gold — Strategic Culture – https://www.strategic-culture.org/news/2022/03/17/all-that-glitters-is-not-necessarily-russian-gold/
#Sanctions and #sovereignty – https://rentry.co/sanctions-and-sovereignty
As of February 1, three weeks before the start of #OperationZ, the #Russia n Central Bank held $630.2 billion in reserves. Almost half –
$311.2 billion – were placed in foreign securities, and a quarter – $151.9 billion – on deposits with foreign commercial and #CentralBank s. Not exactly a brilliant strategy.As for the physical #gold, #$ 132.2 billion – 21% of total reserves – remains in vaults in Moscow (two-thirds) and St. Petersburg (one-third).
The key problem is that more than 75% of Russian Central Bank reserves are in foreign currency. Half of these are #securities, like government bonds: they never leave the nation that issued them. Roughly 25% of the reserves are linked to foreign banks, mostly private, as well as the #BIS and the #IMF.
#Sanctions and #sovereignty – https://rentry.co/sanctions-and-sovereignty