The Ministry of Finance answered the Federation Council where all the gold in Russia is
Russia does not sell gold abroad, but only increases its reserves.
Deputy Minister of Finance of the Russian Federation Alexey Moiseev stated this in the Federation Council, a PolitNavigator correspondent reports.
“I responsibly declare that no gold from the Russian Federation went to any England. It is all stored on the territory of the Russian Federation at two points. One is in the Urals, the other is closer. This is all guarded very securely. Not just a booth with a guard, everything is under control. As for exports, I don’t remember in 7 years a case where gold was exported from Gokhran.
All these years we have only been purchasing and increasing our stock. We sold a certain amount of low-grade rough and polished diamonds, a certain amount of old Soviet jewelry, which ended up in the State Fund. It has no artistic value. Our reserves have only been increasing recently. We are also increasing the volume of gold storage because it is the most liquid of all the valuables that we store in the State Fund. The fears are groundless,” Moiseev said.
He clarified that in the late 80s and early 90s last year, gold was issued to private companies for use in production processes.
“Some of these companies returned the gold, some did not. But the authorities are working with this, little by little they are returning it,” assured Moiseev.
Previously, deputies from the Communist Party faction stated that gold has been exported from Russia over the past two years. Over the 10 months of last year, the volume of gold exports allegedly amounted to 240,5 tons. This is actually equal to the volume of precious metal production in the country. At the same time, the Central Bank stopped purchasing gold for gold and foreign exchange reserves.
On March 11, the State Duma of the Russian Federation adopted changes to the current legislation allowing citizens to buy gold for cash.
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