Russia's loss of gold and currency reserves: a miscalculation by the Central Bank, a cunning plan or the final battle with the USA
Russia is due today to make payments on two issues of its sovereign Eurobonds worth $117 million. This will be the first payment on Russia's external debt after the February 28 freeze of part of its gold and foreign exchange reserves (GFR) placed in Western banks. The Ministry of Finance has already issued a payment order in dollars; in order to carry it out, this amount must be withdrawn from frozen reserves. If the order...