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Unfortunately for Russia, if it does need to significantly dip into it's gold reserves it is likely to crash that market. I think China will get to negotiate a
by stubish 5y ago
Unfortunately for Russia, if it does need to significantly dip into it's gold reserves it is likely to crash that market. I think China will get to negotiate a sweet discount to convert it to Yuan, if for no other reason than China seems to be the only place the gold can be laundered at the moment. I think I heard about $US 180bn worth?
- selcuka 5y agoI believe it could be the other way around, i.e. other countries paying in gold for Russia's natural gas to bypass sanctions. Iran has been able to sell petrol using the same method despite of the embargo.